2006 PENN AVE S MINNEAPOLIS MN 55405

PID: 3202924110002

Property Overview

Parcel ID3202924110002

Lot Size7,397 sq ft (0.170 ac)

Lot Dimensions (est.)131 ft wide × 57 ft deep

Year Built1909

Property ClassRESIDENTIAL-TWO UNIT

OwnerG P MAYER & M M MAYER

Assessed Value$1,072,200

Land Value$345,000

Building Value$727,200

Annual Tax$20,284

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

6 permits on record since 2017 · $93K total declared value · Most recent: Nov 2023 (misc)

MiscNov 2023Closed

$18K

ELYSIAN CONSTRUCTION INC

RemodelSep 2019Closed

$75K

SMITH DESIGN AND BUILD INC

ExistresAug 2019Closed

Vector Services LLC

ResAug 2019Closed

Piperight Plumbing Inc

ResDec 2017Closed

CENTERPOINT ENERGY

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

Neighborhood Profile

Kenwood · 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 width50 ft

Buildable depth83 ft

Area~4,152 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 4,152 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
2012 PENN AVE S MINNEAPOLIS MN 55405	DORON A TAVLIN	RESIDENTIAL	$735,000	58 ft
2000 PENN AVE S MINNEAPOLIS MN 55405	JENNIFER STEINBERG	TRIPLEX	$1,040,400	62 ft
2020 PENN AVE S MINNEAPOLIS MN 55405	E & P PLUIMER	RESIDENTIAL	$958,000	111 ft
2005 QUEEN AVE S MINNEAPOLIS MN 55405	MEI-LING SMITH/MATTHEW SMITH	RESIDENTIAL	$976,400	137 ft
1968 PENN AVE S MINNEAPOLIS MN 55405	J D CHRISNEY & C L CHRISNEY	RESIDENTIAL-TWO UNIT	$717,500	138 ft
2003 QUEEN AVE S MINNEAPOLIS MN 55405	ALISON LERMAN/JUSTIN LERMAN	RESIDENTIAL	$1,027,000	140 ft
2024 PENN AVE S MINNEAPOLIS MN 55405	E A JOHNSON & J E FEDJE	RESIDENTIAL	$1,146,000	160 ft
2009 QUEEN AVE S MINNEAPOLIS MN 55405	R M JEFFCOAT & C E JEFFCOAT	RESIDENTIAL	$1,044,300	168 ft
1962 PENN AVE S MINNEAPOLIS MN 55405	DEBORAH J THOMSON	TRIPLEX	$603,900	194 ft
2015 QUEEN AVE S MINNEAPOLIS MN 55405	R MORRISON & D MORRISON	RESIDENTIAL	$769,800	208 ft

Property History

Most Recent Sale

Date202311

Price$1,235,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$20,284