5559 2ND AVE S MINNEAPOLIS MN 55419

PID: 2202824130038

Property Overview

Parcel ID2202824130038

Lot Size6,174 sq ft (0.142 ac)

Lot Dimensions (est.)127 ft wide × 48 ft deep

Year Built1927

Property ClassRESIDENTIAL

OwnerGI JUNG LEE & SO JIN KIM

Assessed Value$304,700

Land Value$103,000

Building Value$201,700

Annual Tax$4,432

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

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

7 permits on record since 2024 · $54K total declared value · Most recent: Mar 2026 (remodel)

RemodelMar 2026Closed

$13K

R&D Remodel LLC

ResMar 2026Closed

Suburban Plumbing

ExistresJan 2026Closed

$1K

Norse Home solutions

ResDec 2025Closed

Suburban Plumbing

RemodelNov 2025Closed

$40K

R&D Remodel LLC

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

Neighborhood Profile

Diamond Lake · Minneapolis

Median reported rent1,284/mo

Renter-occupied43.4%

Median home value$373K

Vacancy rate7.4%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 120.03

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

UN1Urban Neighborhood 1

Urban Neighborhood 1 — low-density residential

Typical Uses

·Single-family homes
·Duplexes
·Accessory dwelling units

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width38 ft

Buildable depth89 ft

Area~3,362 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 sfr / adu benchmarks for 3,362 sqft buildable area.

Est. units

Yield on cost

2.2%

Spread

-3.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5601 2ND AVE S MINNEAPOLIS MN 55419	CAROL WALDOCH	RESIDENTIAL	$321,700	50 ft
5555 2ND AVE S MINNEAPOLIS MN 55419	JAMES CAHOY	RESIDENTIAL	$282,300	51 ft
5605 2ND AVE S MINNEAPOLIS MN 55419	ALEXANDER L HATCHER	RESIDENTIAL	$273,300	102 ft
5551 2ND AVE S MINNEAPOLIS MN 55419	JACQUELINE HARTMAN	RESIDENTIAL	$295,700	104 ft
5609 2ND AVE S MINNEAPOLIS MN 55419	CAMERON WUTZKE	RESIDENTIAL	$371,000	152 ft
5545 2ND AVE S MINNEAPOLIS MN 55419	MJB PROPS DIAMOND LAKE LLC	RESIDENTIAL	$254,000	156 ft
5600 CLINTON AVE MINNEAPOLIS MN 55419	JEROME K KRUEGER	RESIDENTIAL-TWO UNIT	$719,000	158 ft
5552 CLINTON AVE MINNEAPOLIS MN 55419	JEROME K KRUEGER	VACANT LAND-RESIDENTIAL	$12,000	170 ft
5606 CLINTON AVE MINNEAPOLIS MN 55419	D J PRICCO & A S PRICCO	RESIDENTIAL	$813,400	175 ft
5550 CLINTON AVE MINNEAPOLIS MN 55419	J M PEDERSEN & C M PEDERSEN	RESIDENTIAL	$1,288,000	184 ft

Property History

Most Recent Sale

Date202509

Price$309,500

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$4,432