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Property Description for 721 Rice Street E Wayzata MN 55391 - MLS# 7068170
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.
General Info
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General Property Information for 721 Rice Street E Wayzata MN 55391 - MLS# 7068170
Bedrooms and Bathrooms
Total Bedrooms:
4
3 BR on One Level:
Yes
Total Bathrooms:
4
Full Baths:
3
3/4 Baths:
0
1/2 Baths:
1
1/4 Baths:
0
Bath Description:
Double Sink, Bathroom Ensuite, Full Master, Full Basement, Full Jack & Jill, Private Master, Main Floor 1/2 Bath, Separate Tub & Shower, Upper Level Full Bath, Walk-In Shower Stall
Size and Home
Year Built:
2002
Type of Property:
Single Family Home
Style:
Single Family
Stories/Levels:
2 Stories
Total SqFt:
6,946
Total Fnsh'd SqFt:
5,853
Above Ground SqFt:
4,160
Finished Above Grade:
4,160
Below Ground SqFt:
2,786
Finished Below Grade:
1,693
Garage Stalls:
3
Garage SqFt:
806
Main Floor SqFt:
2,015
Approx Lot Dimensions:
66 x 166 x 66 x 165
Approx Number of Acres:
0.25
Property Features
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Property Features for 721 Rice Street E Wayzata MN 55391 - MLS# 7068170
Air Conditioning:
Central,Zoned
Amenities - Interior:
Ceiling Fan(s), French Doors, Hardwood Floors, Intercom System, Kitchen Center Island, Kitchen Window, Master Bedroom Walk-In Closet, Natural Woodwork, Patio, Paneled Doors, Sauna, Security System, In-Ground Sprinkler, Sun Room, Tile Floors, Vaulted Ceiling(s), Washer/Dryer Hookup, Wet Bar, Walk-In Closet, 2nd Floor Laundry
Appliances:
Air-To-Air Exchanger, Cooktop, Dishwasher, Disposal, Double Oven, Dryer, Electronic Air Filter, Exhaust Fan, Freezer, Humidifier, Water Filtration System, Microwave, Refrigerator, Stainless Steel Appliances, Tankless Water Heater, Trash Compactor, Washer, Water Softener Owned
Breakfast Bar, Eat In Kitchen, Separate/Formal Dining Room
Fireplace:
Yes
# Fire Places:
2
Fireplace Type:
Gas, Living Room, Primary Bedroom, Wood Burning
Fuel:
Natural Gas
Garage Type:
Attached Garage
Heat:
Forced Air, In-Floor Heating
Parking Features:
Shared Driveway, Floor Drain, Garage Door Opener, Insulated Garage
Roof:
Age 8 Years or Less, Asphalt
Waterfront:
No
Sewer:
City Sewer/Connected
Water:
City Water/Connected
Room Info
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Room Information for 721 Rice Street E Wayzata MN 55391 - MLS# 7068170
Room Name
Room Level
Room Dimensions
Family Room
Main
27x19
Dining Room
Main
15x14
Kitchen
Main
19x16
Office
Main
15x15
Sun Room
Main
14x11
Bedroom
Upper
21x21
Laundry
Upper
14x10
Bedroom 2
Upper
23x17
Bedroom 3
Upper
20x18
Bedroom 4
Lower
15x14
Family Room
Lower
34x31
Sauna
Lower
06x05
Informal Dining Room
Main
15x10
Bar/Wet Bar Room
Lower
10x08
Storage
Lower
37x22
Owner and Association Info
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Owner and Assocation Info for 721 Rice Street E Wayzata MN 55391 - MLS# 7068170
Ownership Information
Owner is Agent:
No
Rental License:
No
In Foreclosure:
No
Potential Short Sale:
No
Lender Owned:
No
Auction:
No
Association Information
Association Fee:
No
Association Fee Covers:
N/A
Tax Info
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Location, Tax and Other Information for 721 Rice Street E Wayzata MN 55391 - MLS# 7068170
Address Information
House Number:
721
Street:
Rice
Street Abbreviation:
Street
Street Dir Sfx:
E
Postal City:
Wayzata
County:
Hennepin
State/Province:
MN
ZipCode:
55391
Subdivision:
Wayzata Rev
Tax Information
Parcel Number:
Tax Classification:
Residential-Single Family
Tax Year:
2026
Tax Amount:
$28,479.00
Assessments:
No
Taxes w/Assessments:
$28,479.00
School Info
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School Information for 721 Rice Street E Wayzata MN 55391 - MLS# 7068170
School District:
284
Elementary School:
Middle School:
High School:
This listing has been entered by the following office: Fazendin REALTORS
The data relating to real estate for sale on this web site comes in part from the Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than MnRealtyCo, LLC are marked with the or the and detailed information about them includes the name of the listing brokers.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.
Copyright 2026 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.
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