1944 PENN AVE S MINNEAPOLIS MN 55405

PID: 2902924440045

Property Overview

Parcel ID2902924440045

Lot Size9,365 sq ft (0.215 ac)

Lot Dimensions (est.)174 ft wide × 54 ft deep

Year Built1922

Property ClassRESIDENTIAL-TWO UNIT

OwnerW P MEASE & M W THORPE-MEASE

Assessed Value$1,009,100

Land Value$399,000

Building Value$610,100

Annual Tax$17,342

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

4 permits on record since 2017 · $15K total declared value · Most recent: Nov 2025 (existres)

ExistresNov 2025Inspection

ST PAUL PLUMBING AND HEATING CO INC

MiscNov 2023Closed

$14K

SID FEATHERSTONE CONSTRUCTION LLC

MiscMar 2020Closed

$1K

THE K CORPORATION INC

ResJun 2017Closed

Urban Pine Plumbing and Mechanical Inc

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

Neighborhood Profile

Minneapolis

Median reported rent1,749/mo

Renter-occupied47.2%

Median home value$827K

Vacancy rate7.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1065

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 depth130 ft

Area~5,683 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 5,683 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1940 PENN AVE S MINNEAPOLIS MN 55405	C GORMAN & P KYVELOS	RESIDENTIAL-TWO UNIT	$1,623,600	57 ft
1952 PENN AVE S MINNEAPOLIS MN 55405	A FERREYRA & K CORNELISON	RESIDENTIAL	$1,254,000	69 ft
1932 PENN AVE S MINNEAPOLIS MN 55405	BETH FOX & LAWRENCE FOX	RESIDENTIAL	$1,463,000	137 ft
1958 PENN AVE S MINNEAPOLIS MN 55405	LAURA FEGLEY	RESIDENTIAL	$817,000	139 ft
1977 QUEEN AVE S MINNEAPOLIS MN 55405	B E LUCAS & E A LUCAS	RESIDENTIAL	$844,000	145 ft
1973 QUEEN AVE S MINNEAPOLIS MN 55405	D J MILLER & M J MONTGOMERY	RESIDENTIAL	$1,002,200	147 ft
1969 QUEEN AVE S MINNEAPOLIS MN 55405	1969 QUEEN LLC	RESIDENTIAL	$943,000	174 ft
1962 PENN AVE S MINNEAPOLIS MN 55405	DEBORAH J THOMSON	TRIPLEX	$603,900	193 ft
1961 QUEEN AVE S MINNEAPOLIS MN 55405	A JATOI & P L NGUYEN TRUST	RESIDENTIAL	$1,029,000	204 ft
1985 QUEEN AVE S MINNEAPOLIS MN 55405	J C DIRACLES & D A WELDELE	RESIDENTIAL	$1,449,000	205 ft

Property History

Most Recent Sale

Date199607

Price$325,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$17,342