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Single Family ResidenceResidential
$205,913$226 / ft²
TopHap EstimateOur estimate of what this home would sell for today, based on nearby sales, the home's size and features, and local price trends. It is a starting point, not an appraisal.· confidence 91How well the pricing models agreed with each other on this home. Higher means the estimate rests on stronger, more consistent data.· as of Aug 30, 2026
Last sold for $250,000 on Dec 2, 2021

7040 1ST AVE S

RICHFIELD, MN 55423
3
Beds
2.5
Baths
912 ft²
Living AreaTotal finished area of the structures, from county records. Some counties include shared space like hallways or a building gym, so it may not match a listing.
0.16 ac
Lot SizeThe size of the land the home sits on, from county records.
1971
Year BuiltThe year the home was originally built, according to county records.
4
RoomsThe total room count in county records. Counties differ on which rooms they count, so compare it loosely.

Valuation

$206K
$187K low$224K high
Last SaleThe most recent sale price and date from the recorded deed. Transfers between family members or companies may not reflect market value.$250,000 · Dec 2, 2021

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$5,116 (2025)
Assessed ValueThe value the county assigns to this home to calculate property tax. It is often lower than what the home would sell for.$342,000 (2025)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$106,400
Assessed ImprovementsThe share of the county's assessed value that comes from the buildings and other structures on the land.$235,600
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$337,100
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$342,000

Property Facts

Property TypeThe broad category the county puts this property in, such as residential or commercial.Single Family Residence
StyleThe architectural style of the home, such as ranch or colonial.Split Foyer
CountyHENNEPIN
Effective Year BuiltAn adjusted build year that accounts for condition and major remodels. A big renovation can make a home count as newer than it is.1985
Lot (acres)The size of the land the home sits on, from county records.0.16
ConstructionThe main material the home's frame and walls are built from.Frame (Unspecified)
RoofThe main material covering the roof, such as asphalt shingle or tile.Asphalt
HeatingThe type of heating system in the home.Floor/Wall Furnace
CoolingThe type of cooling or air conditioning in the home.Package
GarageWhether the property has a garage, and details like whether it is attached to the home.Garage, Attached
PoolWhether the property has a pool, and what kind, such as in-ground.No
ViewThe type of view from the property, or another feature of the site that affects value.Lake

Transaction History(2)

Sales and refinances filed with the county for this home. Not every transfer is a normal sale, so check the type before comparing prices.

Assigned SchoolsThe public schools this address is zoned for. Boundaries change, so confirm with the district before you count on it.

H
Richfield High SchoolC+
High · Grades 9–12 · 0.3 mi
E
Centennial ElementaryD-
Elementary · Grades KG–5 · 1.3 mi
M
Richfield Middle SchoolC
Middle · Grades 6–8 · 1.5 mi

District: Richfield Public School District

Neighborhood · ZIP 55423These are comparison scores, not percentages. 100 equals the national average, so 150 means about 50% above average.

CrimeLocal crime compared with the rest of the country, where 100 is average. It reflects things like population density, income, and how crime gets reported.97
Air pollutionOverall air pollution compared with the rest of the country, where 100 is average. Lower is cleaner.88
EarthquakeEarthquake risk and likely building damage compared with the rest of the country, where 100 is average. Scores can run far above 100.13

Index scale: 100 = US average (tick). Lower is better.

Homes occupiedThe share of homes here that someone lives in. The rest sit empty, including vacation and for-sale homes.94%
Bachelor's or higherThe share of adults 25 and older whose highest degree is a bachelor's degree.33%
Poverty rateThe share of people whose household income falls below the federal poverty line, which varies by family size.7.0%
UnemploymentThe share of men 16 and older who are out of work and actively looking. Only men are counted in this figure.0.9%
PopulationHow many people live in this area.37,002
DensityPeople per square mile. Higher numbers mean a more crowded, urban area.5,214 / mi²
Median incomeThe middle household income here — half of households earn more, half earn less.$83,817
Average incomeThe average household income. It runs higher than the median when a few high earners pull it up.$106,101
Average tempThe average temperature here across a full year.45°F
Annual precipHow much rain and melted snow falls here in a typical year.30 in
SunshineThe share of daylight hours that get direct sun in a typical year, counting cloud cover.58%

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Data by ATTOM. Valuations are automated estimates, not appraisals. Photos from Google Street View and may not depict the current property state.

How this home compares

7040 1st Ave S measured against every home in its neighborhood, its ZIP code and its county, using county assessor records refreshed nightly. A home can stand out in one of those areas and look ordinary in another, because each one holds a different mix of homes.

  • Worth less than 83% of homes in Hennepin County
  • Smaller than 92% of homes in Southeast Richfield
  • Has a smaller lot than 89% of homes in Southeast Richfield
  • Newer than 98% of homes in Southeast Richfield

What homes are worth in Minneapolis 55423

Each bar is how many homes fall in that price range. The marker is this home.

This home
$100K$426K

This home is worth more than 22% of homes in Minneapolis 55423.

How it measures up in Minneapolis 55423

The dot is this home. The mark in the middle is the typical home in Minneapolis 55423.

Estimated value$205,913
CheaperTypical $252,594Pricier

Pricier than 22% of homes nearby

Price per ft²$226
CheaperTypical $222Pricier

Pricier than 53% of homes nearby

Living area912 ft²
SmallerTypical 1,115 ft²Bigger

Bigger than 15% of homes nearby

Lot size0.16 ac
SmallerTypical 0.22 acBigger

Bigger than 21% of homes nearby

Year built1971
OlderTypical 1953Newer

Newer than 85% of homes nearby

How 7040 1st Ave S ranks against every home in each area.
MeasureThis homeSoutheast RichfieldMinneapolis 55423Hennepin County
Estimated valuepricier than$205,91319% of homes22% of homes17% of homes
Price per ft²pricier than$22653% of homes53% of homes44% of homes
Living areabigger than912 ft²8% of homes15% of homes10% of homes
Lot sizebigger than0.16 ac11% of homes21% of homes32% of homes
Year builtnewer than197198% of homes85% of homes52% of homes

About 7040 1st Ave S

How much is 7040 1st Ave S, Richfield, MN worth?

The TopHap Estimate for 7040 1st Ave S, Richfield, MN is $205,913 as of Aug 30, 2026. The likely range is $187,445 to $224,381. The estimate is modelled from recorded sales, assessments and the property's own characteristics — it is not an appraisal.

When did 7040 1st Ave S, Richfield, MN last sell?

7040 1st Ave S, Richfield, MN last sold on Dec 2, 2021 for $250,000, according to the county's recorded deed.

How big is 7040 1st Ave S, Richfield, MN?

7040 1st Ave S, Richfield, MN has 3 bedrooms, 2.5 bathrooms, 912 square feet of living space and a 0.16-acre lot.

When was 7040 1st Ave S, Richfield, MN built?

7040 1st Ave S, Richfield, MN was built in 1971, making it 55 years old. It is a split foyer home.

What schools serve 7040 1st Ave S, Richfield, MN?

7040 1st Ave S, Richfield, MN is assigned to Richfield High School (high), rated C+; Centennial Elementary (elementary), rated D-; Richfield Middle School (middle), rated C. All sit in Richfield Public School District. Attendance boundaries change — confirm with the district before relying on an assignment.

How does 7040 1st Ave S, Richfield, MN compare to other homes in Minneapolis 55423?

Among the 11,453 homes in Minneapolis 55423, it is worth more than 22% of them ($205,913 against a typical $252,594), its price per square foot is higher than 53% of them ($226 against a typical $222), it is bigger than 15% of them (912 ft² against a typical 1,115 ft²), its lot is bigger than 21% of them (0.16 ac against a typical 0.22 ac) and it is newer than 85% of them (1971 against a typical 1953). Measured against all of Hennepin County, it is worth more than 17% of homes there. These shares are recounted nightly from the full county assessor record for each area, not from active listings.

What are the property taxes on 7040 1st Ave S, Richfield, MN?

The 2025 property tax bill for 7040 1st Ave S, Richfield, MN was $5,116. The county assessed it at $342,000.

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