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.
Active
$1,500,000
481 Peavey Ln, Wayzata, MN 55391
2beds
3,166sqft
Est.:
Single Family Residence
Built in 1981
2.59 Acres Lot
$1,444,300 Zestimate®
$474/sqft
$-- HOA
What's special
Smart layoutExtra deepMain level primary bedroomHigh ceilingsAll-brick walkout ramblerGenerous room sizesMature trees
- 1 day
- on Zillow |
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Zillow last checked: 7 hours ago
Listing updated: August 01, 2025 at 08:41am
Listed by:
Fritz 952-215-8951,
Hale Properties, Inc
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6752865

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Open house
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
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: $474/sqft
- Tax assessed value: $952,600
- Annual tax amount: $11,101
- Date on market: 8/1/2025
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