#6728291, Listing office: Coldwell Banker Realty
$1,500,000 List price
481 Peavey Ln Wayzata, MN 55391
2 beds
1 full
1,583 sqft
$948 / sqft
House
Property details
About 481 Peavey Ln
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.
Highlights
Home typeSingle Family Residence
HeatingForced Air
StatusActive
CoolingCentral Air
Size1,583 sqft
BasementYes
Year built1981
ParkingAttached Garage, Driveway - Other Surface, Electric, Floor Drain, Finished Garage, Garage Door Opener, Heated Garage, Insulated Garage, Storage
MLS #6752865
Attached garage3 spaces
FireplaceGas
Virtual tour
Summary
- Full Bathrooms: 1
- Appliances: Cooktop, Dishwasher, Disposal, Dryer, Freezer, Gas Water Heater, Water Filtration System, Water Osmosis System, Refrigerator, Oven, Washer, Water Softener
- Basement: Yes
- Fireplace: Gas
- Total Bedroom Count: 2
- Garage Space: 3 spaces
- Attached Garage: Yes
- Parking: Attached Garage, Driveway - Other Surface, Electric, Floor Drain, Finished Garage, Garage Door Opener, Heated Garage, Insulated Garage, Storage
- Heating: Forced Air
- Cooling: Central Air
- List Price: $1,500,000
- Price/SqFt: $947
- HOA Amount: $0
- Annual Tax Amount: $9,808
- Tax Year: 2023
- Lot: Irregular Lot, Many Trees
- Directions: Lake St W, South on Peavey Rd, West on Peavey Lane to home at end of cul-de-sac. Up paver driveway.
- Year Built: 1981
- Living Area: 1,583 SqFt
- MLS Number: 6752865
- MLS Name: NORTHSTAR
- Office Name: Hale Properties, Inc
Copyright © 2025 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.
By searching, you agree to the EULA Terms Agreement.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some or all of the property listings above may have been submitted to the Regional Multiple Listing Service (RMLS) by the listing broker for distribution to cooperating brokers through Broker reciprocity. Attribution of the listing broker may be found on the detail page for all properties. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited. No part of this search utility may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise. Home sale information is not an appraisal, competitive or comparative market analysis, CMA or home valuation.
DMCA Notice
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 8/1/2025, 4:52:32 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $883,400 | $9,808 |
| 2022 | $730,000 | $8,150 |
| 2021 | $662,000 | $8,226 |
| 2020 | $592,000 | $7,215 |
| 2019 | $577,000 | $7,269 |
| 2018 | $522,000 | $6,485 |
| 2017 | $499,000 | $6,253 |
History based on county public records data.
Nearby schools
7
Gleason Lake Elementary School
Public District KG-5
1.9 mi
•310 County Road 101 N
6
Oakwood Elementary School
Public District KG-5
2.6 mi
•17340 County Road 6
10
Groveland Elementary
Public District KG-5
2.7 mi
•17310 Minnetonka Blvd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $113,362. The most common annual income of people living in Wayzata, MN is $200k+. The majority of families are single, no kids. Residents of this area typically have post secondary degree education.
How much money do the neighbors make?
24%
<35k
21%
35k-100k
16%
100k-200k
39%
200k+
What level of education do the neighbors have?
No High School
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
43%
Single, No Kids
4%
Single, with Kids
35%
Married, No Kids
18%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
10%
<11 yrs old
11%
12-17 yrs old
11%
18-34 yrs old
41%
35-64 yrs old
27%
65+ yrs old
What do the neighbors do for fun?
Skiing/snowboarding
PGA/LPGA
Figure Skating
Where do the neighbors shop?
BJs Wholesale Club
Stein Mart
GameStop
Where do the neighbors go to eat?
Panera
Cracker Barrel
Bob Evans
What do the neighbors drive?
Infiniti
Lexus
Lincoln
What do the neighbors listen to?
Adult Hits
Oldies
News/Talk/Information
All data provided by Home Junction and Claritas
Similar homes for sale
#6718491, Listing office: Coldwell Banker Realty
#6726279, Listing office: Coldwell Banker Realty
10 hours on Rocket
#6765368, Listing office: Coldwell Banker Realty
#6705034, Listing office: Coldwell Banker Realty
#6751060, Listing office: MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
#6697199, Listing office: Compass
#6648235, Listing office: Compass
#6655819, Listing office: Keller Williams Premier Realty Lake Minnetonka
#6653326, Listing office: Compass
Frequently asked questions
About 481 Peavey Ln
The listing price of 481 Peavey Ln property is $1,500,000.
The property 481 Peavey Ln is a house located in Wayzata, Minnesota, 55391.
Active Listing: 481 Peavey Ln is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 481 Peavey Ln are: Gleason Lake Elementary School (GreatSchools Rating 7/10), Oakwood Elementary School (GreatSchools Rating 6/10), Groveland Elementary (GreatSchools Rating 10/10), West Middle School (GreatSchools Rating 8/10), Central Middle School (GreatSchools Rating 7/10), Orono Middle School (GreatSchools Rating 7/10), Orono High School (GreatSchools Rating 9/10), Minnetonka High School (GreatSchools Rating 10/10), Tier Two (GreatSchools Rating 1/10).
According to the records, the last property tax for 2023 is $9,808 (source: MLS/based on county public records data).
The property at 481 Peavey Ln has 2 bedrooms and 2 bathrooms.
The property 481 Peavey Ln is 1,583 SqFt (source: MLS/tax record).
The year of construction for 481 Peavey Ln is 1981.
This home is located at 481 Peavey Ln in Wayzata, MN and zip code 55391. This 1,583 square foot home was built in 1981. Features: 2 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since August 1, 2025 and is currently priced at $1,500,000.
Wayzata, MN housing market in July 2025 saw over 3 listings sold above listed price, more than 3 sold at listed price and over 22 sold below. The number of listings in Wayzata, MN decreased by 1.9% between June and July 2025. In July 2025, listings were on the market for 39 days. During the same period, the median list price in this real estate market was $995,000.
From Rocket Homes Real Estate and based on county public records data.