Located on the highly sought-after "Island" of Lake Minnetonka, this rare lakefront property offers 80 feet of south-facing shoreline on picturesque Phelps Bay. The home is not quite move-in ready and presents a prime opportunity for investors, builders, or homeowners looking to bring their vision to life. Whether you're planning to renovate and resell, remodel and enjoy, or tear down and build new, this property offers endless potential. With the right updates and design, this lakeshore retreat can truly shine. It could serve as a summer getaway, long-term rental, or luxury dream home. The seller is including a full survey, site specifications, architectural renderings, and a proposed layout for a future build. A rare lakeside shed at the water’s edge is also included, providing convenience and added value. This is a blank canvas on one of Lake Minnetonka’s most desirable shorelines—offering flexibility, upside, and the chance to create something truly special.
Active
Price cut: $25K (8/4)
$825,000
4877 Island View Dr, Mound, MN 55364
2beds
905sqft
Est.:
Single Family Residence
Built in 1930
7,840.8 Square Feet Lot
$816,100 Zestimate®
$912/sqft
$-- HOA
What's special
Rare lakefront propertySouth-facing shoreline
- 40 days
- on Zillow |
- 2,907 |
- 75 |
Zillow last checked: 7 hours ago
Listing updated: August 04, 2025 at 04:56am
Listed by:
Corey J Wright 763-807-5537,
eXp Realty
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6757286

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Rooms
- Room types: Living Room, Bedroom 1, Kitchen, Bedroom 2, Deck
Bedroom 1
- Level: Main
Bedroom 2
- Level: Lower
Deck
- Level: Main
Kitchen
- Level: Main
Living room
- Level: Main
Heating
- Boiler
Cooling
- Window Unit(s)
Features
- Basement: Finished,Full,Walk-Out Access
- Has fireplace: No
Interior area
- Total structure area: 905
- Total interior livable area: 905 sqft
- Finished area above ground: 608
- Finished area below ground: 297
Property
Parking
- Total spaces: 2
- Parking features: Detached
- Garage spaces: 2
Accessibility
- Accessibility features: None
Features
- Levels: One
- Stories: 1
- Patio & porch: Deck
- Waterfront features: Lake Front, Waterfront Num(27013300), Lake Acres(14205), Lake Depth(113)
- Body of water: Minnetonka
Lot
- Size: 7,840.8 Square Feet
- Dimensions: 79 x 100
Details
- Foundation area: 608
- Parcel number: 2511724110041
- Zoning description: Residential-Single Family
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Wood Siding
- Roof: Asphalt
Condition
- Age of Property: 95
- New construction: No
- Year built: 1930
Utilities & green energy
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Devon
HOA
- Has HOA: No
Location
- Region: Mound
Financial & listing details
- Price per square foot: $912/sqft
- Tax assessed value: $993,100
- Annual tax amount: $11,985
- Date on market: 7/18/2025
- Loading
- Loading