Maximize the profit potential of

7044 1st Ave S,Richfield, MN 55423

3

beds

2

baths

1,601

sqft

Built

1956
7,405

sqft Lot

1

story

1

car garage

A/C

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7044 1st Ave S
Home value
Details
Homeowner tools
Reno ROI
Permits
Neighborhood
Comps
Sales nearby
Schools
Maintenance

Details for 7044 1st Ave S, Richfield, MN 55423

Located in the Unplatted 34 028 24 neighborhood, this property was built in 1956, and had 9 construction permits in the past 6 years, 2002, 2008, 2015, 2016, 2017 and 2018.

General details

Table iconBuilt in:1956
Table iconBedrooms:3
Table iconBathrooms:2
Table iconSchool district:Richfield Public School District
Table iconCounty:Hennepin

Price and tax history

Table iconLand value:$93,000
Table iconProperty tax:$3,127.6
Table iconProperty tax year:2021
Table iconSale date:11/20/2017
Table iconSale price:$192,500

Interior details

Table iconBasement:Yes
Table iconStories/floors:1
Table iconWaterfront:No
Table iconTotal rooms:7

7044 1st Ave S information

Table iconType:Ranch\Rambler
Table iconUse:Single Family Residence
Table iconLot size:7,405 sqft
Table iconBuilding size:1,601 sqft

Exterior of the house

Table iconGarage:1 car, Attached garage
Table iconRoof:Asphalt
Table iconExternal walls:Wood
Table iconPool:No

House fixtures

Table iconHeating:Forced Air
Table iconFire place:Yes
Table iconAir Conditioning:Central
Table iconHeater replacement:-

This beautiful 1 story residential property has 1,601 sq ft of living space. It has a 1-car garage space. In total, the home has 7 rooms.

This house has a cozy fireplace for your family on chilly evenings, and A/C to keep your home cool and comfortable.

The nearest school district is Richfield Public School District and the distance to the nearest school is 0.4 miles.

This property was last sold for $192,500 on 11/20/2017 and its property tax value is $3,127.6 from 2021

Homeowner Tools

Solutions that adapt to each specific house to provide the best insights to improve home value
Remodel cost estimator
Remodel cost estimator

7044 1st Ave S could benefit from a Bedroom addition, try the cost estimator to determine the cost.

Estimate a remodel
Homeowner dashboard
Homeowner dashboard

Optimize home equity and keep it in shape with recommendations for seasonal tasks in 55423.

Unlock now
Refinance & loans
Refinance & loans

Try the quick, easy, no-obligation home financing tool that allows you to review your financing options

Learn more
Contractor Solutions
Contractor Solutions

Find the best contractors around Richfield, MN for your renovation project

Learn more

Growing Home Equity

Determining Home Equity can be difficult if you don’t have all your facts straight. Depending on where you live, certain projects can give more value to your home than others, and some projects can even reduce your home value!
For 7044 1st Ave S you should think about remodeling your Bedroom, it can provide an ROI around 2%

ROI stands for Return on Investment, which is how investors, through a mathematical formula, determine the percent earned. A good ROI for a standard property in Richfield, MN is about 9% of the total value of the property.

Renovation Return on Investment

Remodel:
Bedroom Addition
$52,748
Kitchen Renovation
$22,155
Master Bathroom Renovation
$10,826
Full Bathroom Renovation
$5,654
Cost to renovate
$91,383
Increase in home value 
$93,211

Forecasted value over the next 5 years

How do we calculate how much property value will change over 5 years?

For zip code 55423, we combine macroeconomic trends together with regional economic activity, plus we evaluate overall home price trends and the pace of construction in the area. We then apply data unique to Kukun in statistical forecasting models to arrive at the estimate of 23.3% growth in 5 years, with a statistical range between 8.41% and 38.28%
For zip code 55423, the graph shows a projected growth of 23.3% over the next five years, with a statistically significant range of growth between 8.41% and 38.28%.

The Kukun Home Dashboard shows how the Property Condition Score impacts both the home value and the forecasted home value.
5-year growth forecast
23.4
polygon%

5 YEAR GROWTH

NOW

-0.05%

GROWTH

1 YEARS

+2.49%

GROWTH

2 YEARS

3 YEARS

4 YEARS

5 YEARS

Construction permit history

A building permit is a binding document between the city and you, as a homeowner. Whenever you want to do big renovation project to your home, a project permit is required
2018
1 Permit

Residential Permit

#RI128961

Permit date:

10/29/2018

Status:

Approved

Type:

No data

Description:

Electrical, service: replace main panel with new update grounding 6 altered circuits for redevice

Contractor:

No Data
2017
2 Permits

Residential Permit

#RI124688

Permit date:

12/21/2017

Status:

APPROVED

Type:

null

Know Your Neighborhood

Neighborhood overview around 7044 1st Ave S

Each Neighborhood is rated with factors like Air Quality, Transit, or Crime. Here the rating is from Green (Good to go) to Red (Facing challenges)

Walk

Car-Dependent

Most errands require a car

Transit

Some transit

A few nearby public transportation options

Crime

US average

Non violent offenses

Air Quality

Healthy

Air pollution poses little or no risk

Natural Hazards

Few high-risk hazards

High risk of Tornados

Home values

See prices of homes nearby the subject home, with color coding for those that are in the same price range, those that are above, and those that are below
All
Above
Similar
Below
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Most recent activity

Comparable sales

Comparable homes are properties that have recently sold in the same neighborhood or in the area that is close to the subject home, which have a value that can be used as a benchmark. No two homes are exactly alike, so key differences are highlighted for comparison purposes
-0.07%

Less expensive than similar sales

+113.4 Score

Property condition score is higher than average

Avg beds

Similar sales have the same number of beds

+195.8 sqft

This property has a bigger building size than average

+7 years

Newer than similar properties

Recent sales nearby

Address Price Sale date Bed /Bath Home sqft Year built Lot sqft
1 7112 1st Ave S, Richfield, MN 55423 $399,000 08/03/2022 4 / 2.0 2,110 1995 6,098
2 7038 Stevens Ave, Richfield, MN 55423 $350,000 06/15/2022 3 / 1.0 1,645 1950 10,105
3 7132 1st Ave S, Richfield, MN 55423 $453,000 06/30/2022 3 / 3.0 2,096 1992 6,098
4 7021 Stevens Ave, Richfield, MN 55423 $427,000 06/30/2023 4 / 1.0 1,051 1950 10,019
5 7133 Nicollet Ave, Richfield, MN 55423 $260,000 10/24/2022 3 / 1.0 1,575 1951 6,098
6 7141 Stevens Ave, Richfield, MN 55423 $300,000 11/30/2022 2 / 2.0 1,015 1950 6,403
7 7145 Stevens Ave, Richfield, MN 55423 $449,000 08/02/2022 5 / 3.0 2,549 1950 6,098

Address

Price

Sale date

Bed /Bath

Home sqft

Year built

Lot sqft

0/7

7112 1st Ave S, Richfield, MN 55423

$399,000

08/03/2022

4 / 2.0

2,110

1995

6,098

7038 Stevens Ave, Richfield, MN 55423

$350,000

06/15/2022

3 / 1.0

1,645

1950

10,105

7132 1st Ave S, Richfield, MN 55423

$453,000

06/30/2022

3 / 3.0

2,096

1992

6,098

7021 Stevens Ave, Richfield, MN 55423

$427,000

06/30/2023

4 / 1.0

1,051

1950

10,019

7133 Nicollet Ave, Richfield, MN 55423

$260,000

10/24/2022

3 / 1.0

1,575

1951

6,098

7141 Stevens Ave, Richfield, MN 55423

$300,000

11/30/2022

2 / 2.0

1,015

1950

6,403

7145 Stevens Ave, Richfield, MN 55423

$449,000

08/02/2022

5 / 3.0

2,549

1950

6,098

Based on the values extracted from recently sold nearby homes, these properties built around the year 1963, on average consist of 3 bedrooms and 2 bathrooms. They typically offer a lot size of approximately 7,274 sqft with a building size of around 1,720 sqft, fetching a median sale price of $399,000.

Neighborhood schools

1
Flex Academy()

Distance: 0.8 miles   |  Private

2
Richfield Dual Language School(Elementary)

Rating 4/10  |  Distance: 0.8 miles   |  Private

3
Central Education Center(Elementary)

Distance: 0.8 miles   |  Private

4
Partnership Academy Inc(Elementary)

Rating 2/10  |  Distance: 0.8 miles   |  Private

5
Richfield Stem School(Elementary)

Rating 4/10  |  Distance: 0.9 miles   |  Private

6
Augsburg Park Montessori School(Elementary)

Distance: 1.2 miles   |  Private

7
Seven Hills Prep Academy Upper(Middle)

Rating 5/10  |  Distance: 1.2 miles   |  Private

8
Richfield Senior High(High)

Rating 4/10  |  Distance: 0.4 miles   |  Private

9
Alc Richfield HsIs(High)

Distance: 0.4 miles   |  Private

10
Alc Richfield Success At 15(High)

Distance: 0.4 miles   |  Private

Get the schools map and many more with an iHomeReport for $39.95Get an iHomeReport

As a trusted source of school data, we provide information and ratings from the U.S. Department of Education. Prospective buyers and renters can utilize this data as an initial resource in evaluating their preferred schools. To determine school enrollment eligibility, we advise you to conduct your own inquiries and reach out to schools or school districts directly for precise data. Kukun cannot guarantee the accuracy of this information.

Maintenance tasks

Seasonally adjusted

September

Change HVAC air filters
Helps keep the air in your home clean by trapping dust and other airborne particles, reducing allergens and providing cleaner air to breathe. Helps your HVAC system run more efficiently and helps extend the life of the system.

September

Clean front porch and back deck
Helps to maintain the overall aesthetic of your home, helps to prevent damage to the deck or porch itself, and helps to prevent the growth of mold and mildew, which can be a health hazard.

September

Drain sprinkler system to protect from freezing
Necessary to protect sprinklers from freezing because water expands as it freezes, which can cause pipes and other components of the sprinkler system to burst.

September

Put away hoses and drain exterior faucets to protect from freezing
If a hose or faucet is left connected to a water supply and temperatures drop below freezing, water inside the hose or faucet can freeze and expand, potentially bursting the hose or faucet and causing damage to the exterior.

Why?

Helps keep the air in your home clean by trapping dust and other airborne particles, reducing allergens and providing cleaner air to breathe. Helps your HVAC system run more efficiently and helps extend the life of the system.

See how

Are you the owner? get a free customized annual maintenance schedule with reminders when you claim your home.

FAQ for 7044 1st Ave S, Richfield, MN 55423

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