721 Rice Street EWayzata, MN 55391
$3.1 million
4 bedrooms · 4 bathrooms · 5,853 finished sq ft · 0.25 acre lot
About this home
Set within Wayzata's coveted Bluff neighborhood, this spectacular Keith Waters Parade Home offers timeless architecture, exceptional craftsmanship, and an unrivaled walkable lifestyle. Just moments from Lake Minnetonka, the Panoway Boardwalk, Lake Street, boutique shopping, and acclaimed restaurants, this is a rare opportunity to own one of Wayzata's most distinguished residences. Spanning 5,853 finished square feet, this custom-built home features four bedrooms, four bathrooms, and a three-car garage. A private elevator with wheelchair accessibility provides seamless access to all three levels, while expansive windows fill the home with natural light and showcase the peaceful and private tree-lined setting. Rich custom woodwork and quality finishes are showcased throughout, reflecting the home's timeless design. A dramatic vaulted entry welcomes you into thoughtfully designed living spaces, where a gourmet kitchen flows seamlessly into the informal dining area and light-filled family room with a classic wood-burning fireplace. A formal dining room, executive office with custom built-ins, four-season sunroom, mudroom, powder bath, and inviting front patio complete the main level. Upstairs, the luxurious primary suite offers a gas fireplace, spa-inspired bath, and walk-in closet with direct access to the laundry room. Two additional bedrooms feature walk-in closets, custom built-ins, and a Jack-and-Jill bath with private vanity areas. Designed for entertaining, the lower level features a fourth bedroom with a private en suite, granite wet bar, climate-controlled wine cellar with capacity for approximately 1,000 bottles, sauna, and a rare cold storage room beneath the insulated three-car garage with access from both the home and garage. Offering timeless design, exceptional craftsmanship, and one of Wayzata's most coveted locations, this remarkable residence presents a rare opportunity to experience luxury living at its finest.
Home facts
- Home type
- Single-family home
- Style
- Single Family Residence
- Year built
- 2002
- Bedrooms
- 4
- Bathrooms
- 4
- Finished sq ft
- 5,853
- Lot
- 0.25 acres
- Garage
- 3 stalls
- Basement
- Finished, Storage Space, Sump Pump, Daylight
- Heating
- Natural Gas, Forced Air
- Cooling
- Ceiling Fan(s), Central Air, Zoned
- Property taxes
- $28,479 a year
- Listed
- August 5, 2026
- MLS number
- 7068170
Listing courtesy of Lakes Sotheby's International Realty (Carey Willis Crowell). MLS #7068170.
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How it compares
721 Rice Street E, Wayzata, MN 55391 is a 4-bedroom single-family home built in 2002, listed for $3.1 million on August 5, 2026 by Lakes Sotheby's International Realty. That is in the upper quarter of the 22 single-family homes for sale in Wayzata right now (median $2.5725 million; $530 per square foot here against $509 for the group). That works out to $530 per finished square foot.
Source: Huerkamp Home Group, from the active listings in our communities on November 3, 2026 at 8:49 PM (Central). This is not an appraisal, competitive or comparative market analysis, CMA or home valuation.
The location
- Wayzata community guideSchools, commutes, parks, home values and local stories.
- Wayzata housing market, September 2026Homes sold for a median $1,137,000 over 12 months (+3.4%), 99 days on market. Source: Minneapolis Area REALTORS®.
What would the monthly payment be?
— estimated per month
- Principal and interest
- —
- Property taxes
- —
Estimate only, not a loan offer: a 30-year fixed loan at the Freddie Mac weekly average (7.24% on October 29, 2026), the property taxes in the listing. Homeowners insurance and any mortgage insurance aren't included. Your rate depends on your credit and loan.
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