Fred returns from his extended trip to St. Louis and Lamont, Donna, Aunt Esther, Bubba, Rollo and Grady have planned a surprise party for his return. Fred no more than steps in the door and Aunt Esther and him are at each other's throats. However, the real problem comes when Fred does some eavesdropping on Lamont and Grady.

Fred's friends Julio and Ah Chew are getting on Fred's nerves and Lamont takes on the challenge of trying to change Fred's bigotry towards minorities. When Lamont fails, he decides to move out and in with Julio, something that unnerves Fred who doesn't seem to get use to the arrangement.

The tax season has come and after an accountant goes through the books he finds that Fred and Lamont will end up owing the government. The accountant explains the situation and Lamont decides to go out and gets a job at a clothing store, so more money is coming into the household. Fred fears this may be the end of Sanford & Son Salvage.

A Japanese land development company wants to buy out the neighborhood with plans to build a brewery in the area. Fred, holding out gets bitten by greed. Fred's greed is disguised as a "heartwarming" sentimentality and he's using it to squeeze as much money as he can get out of the developer.

Fred has a romantic night planned with Donna but Aunt Esther drops in at the last moment with some news, her neice, Elizabeth is in town and she wants Fred to have her stay with him. Fred is against the idea at first but when he takes one look at her he agrees, she is the spitting image of his late-wife, Elizabeth. However, there is another problem, Elizabeth is planning to move into an apartment in town and she will have two roommates, one female and the other male.

Lamont's politically involved girlfriend stresses involvement in the community's problems. This leads Lamont to phone into a radio talk show to express his views. Positive reaction leads to Lamont deciding to run for state assembly. But Fred soon finds out that this means that Lamont may move to Sacramento and leave the junk business.

The cast appears on Wheel and Deal, hosted by Harry Monty.

Fred's friend, Yerby is the manager of a champion boxer, Junior Joe Louis. Fred goes in and buys half ownership. Fred then begins training the boxer for an upcoming fight but soon runs into trouble. For Junior is pulled from the fight because of to Fred's stubbornness.

Fred cleans the house from top to bottom and Lamont is stunned. Then he learns the reason: Fred's baby sister, Frances is visiting to announce her engagement. Fred is excited, but he soon finds her fiance, Rodney is white.

Fred and Lamont have been busy planting a small garden in their yard when suddenly a professor stumbles in and suggests that they may be sitting on some oil. Later, Fred plants his scarecrow in the garden and actually strikes some oil. This leads to Fred and Lamont to ponder the fact that they may soon be millionaires.

Fred becomes smitten with a woman, Miss Wallace who comes to the Sanford residence looking for a place to stay at the Sanford Arms. Meanwhile, a thief has been spotted in the neighborhood and to get the reward money, Fred lets the cops set up a stakeout in his home. However, Fred is in for a shock since the thief has been in disguise as Miss Wallace.