448 PENN AVE S MINNEAPOLIS MN 55405

PID: 2902924140178

Property Overview

Parcel ID2902924140178

Lot Size7,127 sq ft (0.164 ac)

Lot Dimensions (est.)129 ft wide × 55 ft deep

Year Built1938

Property ClassAPARTMENT

OwnerWILLIAM BARON & LORI BARON

Assessed Value$492,000

Land Value$103,900

Building Value$388,100

Annual Tax$9,493

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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

Permit History

2 permits on record since 2024 · $17K total declared value · Most recent: Nov 2024 (res)

ResNov 2024Closed

CenterPoint Energy Resource Corp

RemodelOct 2024Closed

$17K

ASHCO EXTERIORS INC

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width116 ft

Buildable depth15 ft

Area~4,007 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 4,007 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
444 PENN AVE S MINNEAPOLIS MN 55405	TERRI STARK REVOCABLE TRUST	RESIDENTIAL	$433,100	51 ft
440 PENN AVE S MINNEAPOLIS MN 55405	KAREN JOHNSON	RESIDENTIAL	$420,100	92 ft
436 PENN AVE S MINNEAPOLIS MN 55405	SHANE O'LEARY	RESIDENTIAL	$480,300	134 ft
2144 MOUNT VIEW AVE MINNEAPOLIS MN 55405	ROSEMARY L BARENZ	RESIDENTIAL	$382,000	165 ft
432 PENN AVE S MINNEAPOLIS MN 55405	M S FROST & DEBRA L FROST	RESIDENTIAL	$440,800	176 ft
601 QUEEN AVE S MINNEAPOLIS MN 55405	R LANGHORST & C ROGERS	RESIDENTIAL	$443,700	177 ft
2214 MOUNT VIEW AVE MINNEAPOLIS MN 55405	KENT E PETERSON	RESIDENTIAL	$455,000	183 ft
437 PENN AVE S MINNEAPOLIS MN 55405	J K HAMNING & M L HAMNING	RESIDENTIAL	$471,200	199 ft
2218 MOUNT VIEW AVE MINNEAPOLIS MN 55405	WALTER LEE & BONITA LEE	RESIDENTIAL	$564,500	216 ft
433 PENN AVE S MINNEAPOLIS MN 55405	JOHN STEPHEN MAURELLI	RESIDENTIAL	$622,200	218 ft

Property History

Most Recent Sale

Date200601

Price$365,000

TypeCONTRACT FOR DEED

Current Tax Year

Year2026

Tax Due$9,493