481 Peavey Ln

1,583 Sq. Ft.
$695 / Sq. Ft.
1,583
Sq. Ft.
$695
per Sq. Ft.

Description

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...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.
  1. Listed by Hale Properties, Inc

Property Details for 481 Peavey Lane

Subdivision Name
Ferndale Woods
Zoning Jurisdiction
Residential-Single Family
LISTING UPDATED: 02/01/2026 10:56 AM

Property Details for 481 Peavey Lane

StatusActive
MLS #7014977
Days on Compass3
Taxes$11,101 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built1981
Lot Size2.59 AC / 112,820 SF
CountyHennepin County

Location

Listing Courtesy of Hale Properties, Inc
Add your commute

Building Information for 481 Peavey Lane

Stories-Year Built1981Building Size-Lot Size2.59 AC / 112,820 SF

Payment Calculator

$6,286 per month

30 year fixed, 6.15% Interest

Principal and Interest

$5,361

Property Taxes

$925

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 481 Peavey Lane

Summary
Location and General Information
  • City Name: Wayzata
  • County Or Parish: Hennepin
  • County: Hennepin-MN
  • Directions: Lake St W, South on Peavey Rd, West on Peavey Lane to home at end of cul-de-sac. Up paver driveway.
  • Latitude: 44.969814
  • Longitude: -93.537048
  • Map Coordinate: 104-A3
  • City and Location: Wayzata
  • City and Location Text: Wayzata(MN)
  • Postal Code: 55391
  • State Or Province: MN
  • Public Survey Township: 117
Taxes and HOA Information
  • Additional Parcels: No
  • Association Fee: $.00
  • Association Fee Frequency: N/A
  • Association: No
  • Parcel Number: 0111723310010
  • Tax Annual Amount: $11,101.00
  • Tax Legal Description: LOT 016 BLOCK 001 FERNDALE WOODS
  • Tax Other Annual Assessment Amount: $.00
  • Tax Year: 2025
  • Tax With Assessments: 11101
School Information
  • High School District: 1280 - Wayzata
  • School District Number: 1280
  • School District Phone: 7637455000
Property
Lot Information
  • Above Grade Fin SQFT: 1583.0
  • Below Grade Fin SQFT: 0.0
  • SQFT Total: 1583.0
  • Living Area Units: Square Feet
  • Lot Size Area: 2.59
  • Lot Size Dimensions: Approximately 400 x 280
  • Lot Size Units: Acres
  • Present Use: Yearly
  • Property Attached: No
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • SQFT Main Total: 1583
  • Above Grade SqFt Total: 1583
  • Below Grade SqFt Total: 1583
Utilities
  • Electric: 200+ Amp Service
  • Sewer: City Sewer/Connected
  • Water Source: City Water/Connected
Interior and Exterior Features
Exterior Features
  • Accessibility Features: None
  • Foundation Area: 1583.0
  • Fuel: Natural Gas
  • Road Frontage Type: City Street
  • Road Responsibility: Public Maintained Road
  • Roof: Age Over 8 Years, Asphalt
  • Patio Porch Type: Composite Decking,Deck
Interior Features
  • Appliances: Cooktop, Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Stainless Steel Appliances, Trash Compactor, Wall Oven, Washer, Water Softener Owned
  • Basement Type: Block, Unfinished, Walkout
  • Bath Desc: 3/4 Primary,Main Floor 3/4 Bath,Main Floor Full Bath,Rough In
  • Bathrooms Full: 1
  • Bathrooms Half: 0
  • Bathrooms One Quarter: 0
  • Bathrooms Three Quarter: 1
  • Bathrooms Total Count: 2
  • Bedrooms Total: 2
  • Fireplace Features: Family Room, Gas
  • Fireplaces Total: 1
  • FireplaceYN: Yes
  • Cooling: Central Air
  • Dining Room Description: Breakfast Area,Separate/Formal Dining Room
  • Garage Dimensions: 31.5 x 30.5
  • Garage Door Height: 7
  • Garage Door Width: 12
  • Garage Square Feet: 960
  • Heating: Forced Air
  • Levels: One
  • Basement YN: Yes

Property History for 481 Peavey Lane

DateEvent & SourcePriceAppreciation
Jan 30, 2026

Price Change

NorthStar #7014977

$1,100,000
Jan 30, 2026

Listed (Active)

NorthStar #7014977

Dec 26, 2025

Off Market

NorthStar #6752865

Dec 26, 2025

Off Market

NorthStar #6752865

Sep 2, 2025

Price Change

NorthStar #6752865

$1,350,000
Jul 31, 2025

Price Change

NorthStar #6752865

$1,500,000
Jul 31, 2025

Listed (Active)

NorthStar #6752865

DateEvent & SourcePrice
01/30/2026

Price Change

NorthStar #7014977

$1,100,000
01/30/2026

Listed (Active)

NorthStar #7014977

12/26/2025

Off Market

NorthStar #6752865

12/26/2025

Off Market

NorthStar #6752865

09/02/2025

Price Change

NorthStar #6752865

$1,350,000
07/31/2025

Price Change

NorthStar #6752865

$1,500,000
07/31/2025

Listed (Active)

NorthStar #6752865

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 481 Peavey Lane

Taxable ValueLand$609,800Additions$342,800Total$952,600
Tax Record2025$11,101 ($925 / month)
Home Facts
Beds2Baths3Total Finished SqFt1,602 SqFtAbove Grade Finished SqFt1,602 SqFtStories1Lot Size112,820 SqFtStyleSingle Family ResidenceYear Built1981Year Renovated1988CountyHENNEPINAPN01-117-23-31-0010Fireplace TypeHas Fireplace

Schools near 481 Peavey Lane

This home is within Wayzata Public School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
Gleason Lake Elementary School
PublicK to 5

Wayzata West Middle School
Public6 to 8

Wayzata High School
Public9 to 12

Central Middle Alternative (Cmap)
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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481 Peavey Lane is a single family home for sale in Wayzata, MN 55391. This property was listed for sale on January 30, 2026 by Hale Properties, Inc, it's currently listed at $1,100,000. This listing's school district is Wayzata Public School District. Nearby schools include Gleason Lake Elementary School, Wayzata West Middle School and Wayzata High School. 481 Peavey Lane is a 2-bed, 2-bath, 1,583 sqft single family home built in 1981.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Hale Properties, Inc

Based on information submitted to the MLS GRID as of 02/01/2026 10:56 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.