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Single Family ResidenceResidential
$216,259$237 / 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 83How well the pricing models agreed with each other on this home. Higher means the estimate rests on stronger, more consistent data.· as of Jul 14, 2026
Last sold for $3,000 on Feb 21, 2023

7240 1ST AVE S

RICHFIELD, MN 55423
5
Beds
1.8
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.
0.13 ac
Lot SizeThe size of the land the home sits on, from county records.
1972
Year BuiltThe year the home was originally built, according to county records.
1
StoriesHow many floors the home has above ground.
5
RoomsThe total room count in county records. Counties differ on which rooms they count, so compare it loosely.

Valuation

$216K
$179K low$254K high
Last SaleThe most recent sale price and date from the recorded deed. Transfers between family members or companies may not reflect market value.$3,000 · Feb 21, 2023
Est. Owner EquityRoughly how much of the home's value the owner would keep after paying off known loans. It is our estimate minus the loans still owed.$0
Est. Lendable EquityThe part of the owner's equity a lender would typically let them borrow against — about 80% of their equity.$0
Loan-to-ValueHow much is still owed on the home compared to what it is worth. 80% means loans equal 80% of our estimate, so it shifts when the estimate does.123%
1st MortgageA loan still believed to be open on this home, in the order lenders get repaid. The first position is paid back before the second.$268,000
FAIRWAY INDEPENDENT MORTGAGE CORP · recorded Jun 28, 2021

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$5,365 (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.$364,700 (2025)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$100,800
Assessed ImprovementsThe share of the county's assessed value that comes from the buildings and other structures on the land.$263,900
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$348,400
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$364,700

Climate Risk

Projected Flood DepthHow deep a serious flood is expected to get here at some point in the next 30 years. Shown in inches.44 in
30-Year Flood ChanceThe chance of at least one serious flood here in the next 30 years, not in any single year.30%
FEMA Flood ZoneFEMA's flood zone for this address. Zones starting with A or V are high risk, and lenders usually require flood insurance there.minimal

Scores 0–100; higher = greater projected risk.

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.Ranch
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.2000
Lot (acres)The size of the land the home sits on, from county records.0.13
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, Detached
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(5)

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 · 0.4 mi
E
Centennial ElementaryD-
Elementary · Grades KG–5 · 1.3 mi
M
Richfield Middle SchoolC
Middle · Grades 6–8 · 1.4 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%

Ownership

OccupancyWhether the owner appears to live here or somewhere else. It is inferred from the mailing address on record.Absentee owner
Company ownedWhether the owner is a company or trust rather than a person.Yes

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

7240 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 75% of homes in Hennepin County
  • Costs more per square foot than 80% of homes in Southeast Richfield
  • Smaller than 92% of homes in Southeast Richfield
  • Among the smallest lots 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
$109K$439K

This home is worth more than 38% 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$216,259
CheaperTypical $233,834Pricier

Pricier than 38% of homes nearby

Price per ft²$237
CheaperTypical $206Pricier

Pricier than 72% of homes nearby

Living area912 ft²
SmallerTypical 1,116 ft²Bigger

Bigger than 16% of homes nearby

Lot size0.13 ac
SmallerTypical 0.22 acBigger

Bigger than 3% of homes nearby

Year built1972
OlderTypical 1953Newer

Newer than 86% of homes nearby

How 7240 1st Ave S ranks against every home in each area.
MeasureThis homeSoutheast RichfieldMinneapolis 55423Hennepin County
Estimated valuepricier than$216,25948% of homes38% of homes25% of homes
Price per ft²pricier than$23780% of homes72% of homes58% of homes
Living areabigger than912 ft²8% of homes16% of homes10% of homes
Lot sizebigger than0.13 acalmost no homes3% of homes23% of homes
Year builtnewer than197298% of homes86% of homes52% of homes

About 7240 1st Ave S

How much is 7240 1st Ave S, Richfield, MN worth?

The TopHap Estimate for 7240 1st Ave S, Richfield, MN is $216,259 as of Jul 14, 2026. The likely range is $178,523 to $253,995. The estimate is modelled from recorded sales, assessments and the property's own characteristics — it is not an appraisal.

When did 7240 1st Ave S, Richfield, MN last sell?

7240 1st Ave S, Richfield, MN last sold on Feb 21, 2023 for $3,000, according to the county's recorded deed. TopHap holds 3 recorded sales for this parcel.

How big is 7240 1st Ave S, Richfield, MN?

7240 1st Ave S, Richfield, MN has 5 bedrooms, 1.8 bathrooms, 912 square feet of living space and a 0.13-acre lot.

When was 7240 1st Ave S, Richfield, MN built?

7240 1st Ave S, Richfield, MN was built in 1972, making it 54 years old. It is a ranch home. The building has 1 story.

What schools serve 7240 1st Ave S, Richfield, MN?

7240 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 7240 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 38% of them ($216,259 against a typical $233,834), its price per square foot is higher than 72% of them ($237 against a typical $206), it is bigger than 16% of them (912 ft² against a typical 1,116 ft²), its lot is bigger than 3% of them (0.13 ac against a typical 0.22 ac) and it is newer than 86% of them (1972 against a typical 1953). Measured against all of Hennepin County, it is worth more than 25% 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 7240 1st Ave S, Richfield, MN?

The 2025 property tax bill for 7240 1st Ave S, Richfield, MN was $5,365. The county assessed it at $364,700.

Closest homes

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Assigned schools

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