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721 Rice Street EWayzata, MN 55391

$3.1 million

4 bedrooms · 4 bathrooms · 5,853 finished sq ft · 0.25 acre lot

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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

Broker ReciprocityListing courtesy of Lakes Sotheby's International Realty (Carey Willis Crowell). MLS #7068170.

© 2026 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.

Keller Williams Preferred Realty is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Keller Williams Preferred Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information Deemed Reliable But Not Guaranteed.

Broker ReciprocityThe 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 Keller Williams Preferred Realty are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers.

Keller Williams Preferred Realty participates in Regional MLS’s Broker Reciprocity℠ program, allowing us to display other brokers’ listings on our site. However, Keller Williams Preferred Realty displays only listings located in the Minnesota communities covered on this website. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available. Listing data last updated November 3, 2026 at 8:49 PM (Central). Use of listing data is subject to the license agreement. Open House information is subject to change without warning.

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.

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