2112 PENN AVE S MINNEAPOLIS MN 55405

PID: 3202924110109

Property Overview

Parcel ID3202924110109

Lot Size6,975 sq ft (0.160 ac)

Lot Dimensions (est.)150 ft wide × 46 ft deep

Year Built1915

Property ClassTRIPLEX

OwnerRICHARD MAURICE ANDERSON

Assessed Value$741,000

Land Value$376,000

Building Value$365,000

Annual Tax$6,801

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

3 permits on record since 2017 · $9K total declared value · Most recent: May 2024 (misc)

MiscMay 2024Closed

$9K

Pudas Construction

ResDec 2017Closed

CENTERPOINT ENERGY

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$540K+10.8% YoY

Median price / sqft$268/sqft

Median days to close21 days

Active listings52

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 width37 ft

Buildable depth108 ft

Area~4,014 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 4,014 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
2108 PENN AVE S MINNEAPOLIS MN 55405	MARLENE D FELDMAN	RESIDENTIAL-TWO UNIT	$785,100	46 ft
2116 PENN AVE S MINNEAPOLIS MN 55405	JOHN E BURKE/HEIDI E ERDICH	RESIDENTIAL	$729,700	47 ft
2104 PENN AVE S MINNEAPOLIS MN 55405	WILLIAM R TOZER & ANN TOZER	RESIDENTIAL	$592,000	93 ft
2122 PENN AVE S MINNEAPOLIS MN 55405	JONATHAN P CARLSON	RESIDENTIAL	$689,800	107 ft
2215 21ST ST W MINNEAPOLIS MN 55405	E A CHINQUIST/S L CHINQUIST	RESIDENTIAL-TWO UNIT	$851,600	136 ft
2205 21ST ST W MINNEAPOLIS MN 55405	Y G POLYDOROU & N A HOPE	RESIDENTIAL	$762,400	139 ft
2124 PENN AVE S MINNEAPOLIS MN 55405	HEATHER M MICKMAN	RESIDENTIAL	$971,900	153 ft
2217 21ST ST W MINNEAPOLIS MN 55405	JOANNA BOURAIN	RESIDENTIAL-TWO UNIT	$650,000	162 ft
2128 PENN AVE S MINNEAPOLIS MN 55405	BRADEN MURRAY	RESIDENTIAL	$958,300	186 ft
2227 21ST ST W MINNEAPOLIS MN 55405	J A PHELAN & K A GEHRIG	RESIDENTIAL	$2,310,000	192 ft

Property History

Current Tax Year

Year2026

Tax Due$6,801