Active

$1,350,000

481 Peavey Ln, Wayzata, MN 55391

2beds

3,166sqft

Est.:

Single Family Residence

Built in 1981

2.59 Acres Lot

$1,298,800 Zestimate^®

$426/sqft

$-- HOA

What's special

Smart layoutExtra deepMain level primary bedroomHigh ceilingsAll-brick walkout ramblerGenerous room sizesMature trees

Private 2.5 Acre Setting in Wayzata: Remodel or Rebuild Opportunity Tucked at the end of a quiet cul-de-sac, this 2.5-acre property offers a rare combination of privacy, space, and potential minutes from downtown Wayzata. The existing all-brick walkout rambler has been well maintained by the current owner and offers a smart layout with main level primary bedroom, and generous room sizes throughout. The lower level is a walkout with high ceilings, ready to be finished to suit your needs. The oversized 3-car garage is extra deep, heated, and fully equipped with water, drains, and a built-in air compressor system. The lot is wide and deep, with mature trees and a stream running through the back of the property. Whether you’re considering a remodel, an expansion, or a full rebuild, the site offers flexibility and long-term upside. Blueprints are available.

132 days

816

18

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

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

Bathroom

Description: 3/4 Primary,Private Primary,Main Floor Full Bath,Rough In

Dining room

Description: Breakfast Area,Separate/Formal Dining Room

Heating

Forced Air

Cooling

Central Air

Appliances

Included: Cooktop, Dishwasher, Disposal, Dryer, Freezer, Gas Water Heater, Water Filtration System, Water Osmosis System, Refrigerator, Wall Oven, Washer, Water Softener Owned

Features

Basement: Block,Unfinished,Walk-Out Access
Number of fireplaces: 1
Fireplace features: Gas

Interior area

Total structure area: 3,166
Total interior livable area: 3,166 sqft
Finished area above ground: 1,583
Finished area below ground: 0

Video & virtual tour

View virtual tour

Property

Parking

Total spaces: 3
Parking features: Attached, Driveway - Other Surface, Electric, Floor Drain, Garage, Garage Door Opener, Heated Garage, Insulated Garage, Storage
Attached garage spaces: 3
Has uncovered spaces: Yes
Details: Garage Dimensions (31.5 x 30.5), Garage Door Height (7), Garage Door Width (12)

Accessibility

Accessibility features: None

Features

Levels: One
Stories: 1
Patio & porch: Composite Decking, Deck, Patio
Pool features: None

Lot

Size: 2.59 Acres
Dimensions: Appro x imately 400 x 280, but unique shape. See Map
Features: Irregular Lot, Many Trees

Details

Foundation area: 1583
Parcel number: 0111723310010
Zoning description: Residential-Single Family

Construction

Type & style

Home type: SingleFamily
Property subtype: Single Family Residence

Materials

Brick/Stone, Block, Brick, Frame
Roof: Age Over 8 Years,Asphalt

Condition

Age of Property: 44
New construction: No
Year built: 1981

Utilities & green energy

Electric: 200+ Amp Service, Power Company: Xcel Energy
Gas: Natural Gas
Sewer: City Sewer/Connected
Water: City Water/Connected

Community & HOA

Community

Subdivision: Ferndale Woods

HOA

Has HOA: No

Location

Region: Wayzata

Financial & listing details

Price per square foot: $426/sqft
Tax assessed value: $1,050,600
Annual tax amount: $11,101
Date on market: 8/1/2025
Cumulative days on market: 101 days

Estimated market value

$1,298,800

$1.23M - $1.36M

$3,295/mo

Price history

Date	Event	Price
9/2/2025	Price change	$1,350,000-10%$426/sqft
Source: NorthstarMLS as distributed by MLS GRID #6752865 Report a problem
8/1/2025	Listed for sale	$1,500,000+426.3%$474/sqft
Source: NorthstarMLS as distributed by MLS GRID #6752865 Report a problem
2/9/1998	Sold	$285,000$90/sqft
Source: Public Record Report a problem
12/2/1997	Sold	$285,000$90/sqft
Source: Agent Provided Report a problem