5948 OLIVER AVE S MINNEAPOLIS MN 55419

PID: 2102824320098

Property Overview

Parcel ID2102824320098

Lot Size6,329 sq ft (0.145 ac)

Lot Dimensions (est.)126 ft wide × 50 ft deep

Year Built1950

Property ClassRESIDENTIAL

OwnerM MARTINEZ & LUIS R MARTINEZ

Assessed Value$461,300

Land Value$179,000

Building Value$282,300

Annual Tax$7,428

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2017 · $2K total declared value · Most recent: Feb 2024 (res)

ResFeb 2024Closed

CenterPoint Energy Resource Corp

AdditionAug 2023Closed

$2K

Luis Martinez

ExistresMar 2022Closed

Ray N Welter Heating Co

ResMar 2022Closed

Master Plumbing Services LLC

ResJan 2017Closed

Hearth and Home Technologies LLC

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Armatage · Minneapolis

Median reported rent2,052/mo

Renter-occupied15.4%

Median home value$393K

Vacancy rate2.0%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 120.01

Market Snapshot

Zip code 55419

Median sale price$494K-4.7% YoY

Median price / sqft$270/sqft

Median days to close29 days

Active listings30

Source: Redfin Data Center (Invalid Date) · Zip 55419

Zoning

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width40 ft

Buildable depth87 ft

Area~3,462 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Likely Infeasible

Back-of-envelope estimate based on small multifamily (2–4 units, wood frame) benchmarks for 3,462 sqft buildable area.

Est. units

Yield on cost

3.6%

Spread

-1.9%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5952 OLIVER AVE S MINNEAPOLIS MN 55419	LARAN E BRANDT	RESIDENTIAL	$483,100	50 ft
5944 OLIVER AVE S MINNEAPOLIS MN 55419	J C BEWLEY/KRISTEN M BEWLEY	RESIDENTIAL	$648,200	51 ft
5956 OLIVER AVE S MINNEAPOLIS MN 55419	JAMES O HOIUM	RESIDENTIAL	$320,000	100 ft
5940 OLIVER AVE S MINNEAPOLIS MN 55419	A J BERGERUD & B E RATTLE	RESIDENTIAL	$400,000	104 ft
5949 PENN AVE S MINNEAPOLIS MN 55419	JEFFREY M FORSS	RESIDENTIAL	$273,000	140 ft
5945 PENN AVE S MINNEAPOLIS MN 55419	COMMUNITY HOUSING RESOURCES	RESIDENTIAL	$0	149 ft
5953 PENN AVE S MINNEAPOLIS MN 55419	BBS FAMILY LLC	RESIDENTIAL-TWO UNIT	$475,800	150 ft
5960 OLIVER AVE S MINNEAPOLIS MN 55419	M L REGULUS REV TRUST	RESIDENTIAL	$364,000	150 ft
5936 OLIVER AVE S MINNEAPOLIS MN 55419	SARA ORMSETH	RESIDENTIAL	$395,400	157 ft
5941 PENN AVE S MINNEAPOLIS MN 55419	EDWARD A NORDLING	RESIDENTIAL	$316,000	175 ft

Property History

Most Recent Sale

Date201505

Price$315,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,428