429 PENN AVE S MINNEAPOLIS MN 55405

PID: 2802924230062

Property Overview

Parcel ID2802924230062

Lot Size5,493 sq ft (0.126 ac)

Lot Dimensions (est.)100 ft wide × 55 ft deep

Year Built1931

Property ClassRESIDENTIAL

OwnerB R KWAN & C T HALLER IV

Assessed Value$459,800

Land Value$146,000

Building Value$313,800

Annual Tax$7,014

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

5 permits on record since 2020 · $29K total declared value · Most recent: Oct 2024 (res)

ResOct 2024Closed

CenterPoint Energy Resource Corp

AdditionJun 2024Closed

$4K

Landscape Love LLC

MiscMay 2024Closed

$25K

True North Roofing LLC

ResApr 2021Closed

Warners Stellian Co Inc

ExistresMay 2020Closed

UPTOWN PLUMBING HEATING AND COOLING

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

Neighborhood Profile

Bryn - Mawr · Minneapolis

Median reported rent1,697/mo

Renter-occupied14.8%

Median home value$467K

Vacancy rate0.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1051

Market Snapshot

Zip code 55405

Median sale price$530K+73.8% YoY

Median price / sqft$270/sqft

Median days to close45 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55405

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 width45 ft

Buildable depth60 ft

Area~2,693 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 2,693 sqft buildable area.

Est. units

Yield on cost

3.3%

Spread

-2.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
433 PENN AVE S MINNEAPOLIS MN 55405	JOHN STEPHEN MAURELLI	RESIDENTIAL	$622,200	53 ft
425 PENN AVE S MINNEAPOLIS MN 55405	WAYNE F HARMON	RESIDENTIAL	$444,000	55 ft
421 PENN AVE S MINNEAPOLIS MN 55405	DAVID BUSH & MONIQUE BUSH	RESIDENTIAL	$444,300	112 ft
444 OLIVER AVE S MINNEAPOLIS MN 55405	ALEXANDER CHOV/ALISON RICH	RESIDENTIAL	$697,800	112 ft
437 PENN AVE S MINNEAPOLIS MN 55405	J K HAMNING & M L HAMNING	RESIDENTIAL	$471,200	114 ft
436 OLIVER AVE S MINNEAPOLIS MN 55405	RYAN A WORLEY & J A WORLEY	RESIDENTIAL	$790,000	144 ft
448 OLIVER AVE S MINNEAPOLIS MN 55405	MELANIE GOODWYNE	RESIDENTIAL	$914,000	158 ft
432 PENN AVE S MINNEAPOLIS MN 55405	M S FROST & DEBRA L FROST	RESIDENTIAL	$440,800	174 ft
428 PENN AVE S MINNEAPOLIS MN 55405	STEVEN ALAN JOHNSON	RESIDENTIAL	$342,000	177 ft
417 PENN AVE S MINNEAPOLIS MN 55405	SHAWN T THORUD	RESIDENTIAL	$445,700	180 ft

Property History

Most Recent Sale

Date201401

Price$323,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$7,014