5640 1ST AVE S MINNEAPOLIS MN 55419

PID: 2202824130022

Property Overview

Parcel ID2202824130022

Lot Size5,640 sq ft (0.129 ac)

Lot Dimensions (est.)126 ft wide × 45 ft deep

Year Built1930

Property ClassRESIDENTIAL

OwnerG P LUDVIK & K M LUDVIK

Assessed Value$363,400

Land Value$150,000

Building Value$213,400

Annual Tax$5,411

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent1,486/mo

Renter-occupied21.5%

Median home value$519K

Vacancy rate7.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1115

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 width35 ft

Buildable depth85 ft

Area~2,990 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 2,990 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
5636 1ST AVE S MINNEAPOLIS MN 55419	JULIE G & JACKSON G MILLIKAN	RESIDENTIAL	$401,900	45 ft
5644 1ST AVE S MINNEAPOLIS MN 55419	O M CYMERMAN/K C-CYMERMAN	RESIDENTIAL	$510,700	45 ft
5648 1ST AVE S MINNEAPOLIS MN 55419	E A LARSON & N D GRUMAN	RESIDENTIAL	$384,300	85 ft
5632 1ST AVE S MINNEAPOLIS MN 55419	R H MELINA & T M RODRIQUEZ	RESIDENTIAL	$345,200	89 ft
5628 1ST AVE S MINNEAPOLIS MN 55419	S K WILLIAMS & M C VOSS	RESIDENTIAL	$381,200	134 ft
5643 NICOLLET AVE MINNEAPOLIS MN 55419	A W LAYNE TR & A E LAYNE TR	RESIDENTIAL-TWO UNIT	$368,700	140 ft
5660 1ST AVE S MINNEAPOLIS MN 55419	S P BRINDUSE & T L COLE	RESIDENTIAL	$451,500	141 ft
5647 NICOLLET AVE MINNEAPOLIS MN 55419	STEVEN P BRINDUSE/TERRY COLE	RESIDENTIAL-TWO UNIT	$375,700	147 ft
5639 NICOLLET AVE MINNEAPOLIS MN 55419	JAMES ALLISON/ROBYN ALLISON	RESIDENTIAL	$347,500	147 ft
5635 NICOLLET AVE MINNEAPOLIS MN 55419	D K AGUILAR & P J PROBST	RESIDENTIAL	$299,700	165 ft

Property History

Most Recent Sale

Date199202

Price$95,500

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$5,411