Active with contingency

Price cut: $25K (5/6)

$425,000

7531 Banning Way, Inver Grove Heights, MN 55077

5beds

2,464sqft

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Single Family

Built in 1988

0.64 Acres Lot

$424,200 Zestimate^®

$172/sqft

$-- HOA

What's special

This home offers a warm, functional layout with a spacious kitchen featuring painted cabinetry, stainless steel appliances, generous counter space, and a charming custom bay window bench near the breakfast nook. The peninsula counter keeps the kitchen connected to the dining area, making everyday meals and entertaining easy. Spacious bedrooms provide comfortable retreats, while the recently finished lower level adds flexible living space, including a custom reading spot perfect for quiet moments or a cozy retreat. The walkout leads to a tiered backyard that opens to mature trees and peaceful open space with no homes directly behind, creating a private setting that feels calm and inviting.

57 days

1,589

97

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 3
Full bathrooms: 2
3/4 bathrooms: 1

Bedroom

Level: Main
Area: 165 Square Feet
Dimensions: 15x11

Bedroom 2

Level: Main
Area: 90 Square Feet
Dimensions: 10x9

Bedroom 3

Level: Main
Area: 130 Square Feet
Dimensions: 13x10

Bedroom 4

Level: Lower
Area: 195 Square Feet
Dimensions: 15x13

Bedroom 5

Level: Lower
Area: 165 Square Feet
Dimensions: 15x11

Dining room

Level: Main
Area: 100 Square Feet
Dimensions: 10x10

Family room

Level: Lower
Area: 558 Square Feet
Dimensions: 31x18

Kitchen

Level: Main
Area: 99 Square Feet
Dimensions: 11x9

Laundry

Level: Lower
Area: 238 Square Feet
Dimensions: 17x14

Living room

Level: Main
Area: 288 Square Feet
Dimensions: 18x16

Heating

Forced Air

Cooling

Central Air

Appliances

Included: Dishwasher, Disposal, Dryer, Exhaust Fan, Gas Water Heater, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer, Water Softener Owned
Laundry: Lower Level

Features

Basement: Daylight,Drain Tiled,Finished,Full,Walk-Out Access
Has fireplace: No

Interior area

Total structure area: 2,704
Total interior livable area: 2,464 sqft
Finished area above ground: 1,352
Finished area below ground: 1,112

Property

Parking

Total spaces: 2
Parking features: Attached, Asphalt, Garage Door Opener, Insulated Garage
Attached garage spaces: 2
Has uncovered spaces: Yes

Accessibility

Accessibility features: None

Features

Levels: Multi/Split
Patio & porch: Deck
Fencing: None

Lot

Size: 0.64 Acres
Features: Tree Coverage - Medium

Details

Additional structures: Storage Shed
Foundation area: 1352
Parcel number: 203640004080
Zoning description: Residential-Single Family

Construction

Type & style

Home type: SingleFamily
Property subtype: Single Family

Materials

Concrete
Roof: Age 8 Years or Less,Asphalt

Condition

New construction: No
Year built: 1988

Utilities & green energy

Electric: Circuit Breakers
Gas: Natural Gas
Sewer: City Sewer/Connected
Water: City Water/Connected

Community & HOA

Community

Subdivision: Inver Grove Estates

HOA

Has HOA: No

Location

Region: Inver Grove Heights

Financial & listing details

Price per square foot: $172/sqft
Tax assessed value: $351,900
Annual tax amount: $3,912
Date on market: 4/30/2026

Estimated market value

$424,200

$403,000 - $445,000

$3,530/mo

Price history

Date	Event	Price
5/6/2026	Price change	$425,000-5.6%$172/sqft
Source: NorthstarMLS as distributed by MLS GRID #6804841 Report a problem
5/2/2026	Listed for sale	$450,000+59%$183/sqft
Source: NorthstarMLS as distributed by MLS GRID #6804841 Report a problem
8/31/2018	Sold	$283,000+1.1%$115/sqft
Source: NorthstarMLS as distributed by MLS GRID #4968932 Report a problem
6/18/2018	Listed for sale	$279,900-10.7%$114/sqft
Source: RE/MAX ADVANTAGE PLUS #4968932 Report a problem
6/14/2017	Sold	$313,500+14%$127/sqft
Source: Public Record Report a problem
8/20/2007	Sold	$274,900$112/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$3,830 -2.1%	$351,900 -7.7%
2023	$3,912 +2%	$381,200 +1.1%
2022	$3,836 +8.1%	$377,000 +15.9%
2021	$3,548 +7.6%	$325,300 +12.4%
2020	$3,298 +4.8%	$289,324 +1%
2019	$3,148	$286,400 -0.8%
2018	$3,148 -7.8%	$288,700 +8.1%
2017	$3,415 +6.5%	$267,000 +9.5%
2016	$3,205 +8.6%	$243,900 +9.8%
2015	$2,953 +3.3%	$222,071 +9.1%
2014	$2,859 +2.1%	$203,541 +7.3%
2013	$2,801 +9.9%	$189,698
2012	$2,549 -6.4%	--
2011	$2,724 +3.3%	--
2010	$2,636 -3.6%	--
2009	$2,734 -0.6%	--
2008	$2,751 +4.3%	--
2007	$2,639 +4.4%	--
2006	$2,528 +19.1%	--
2004	$2,123 +2.8%	--
2003	$2,066 +19.7%	--
2002	$1,726 -19.9%	--
2001	$2,155	--

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