Luxury Brownstone in the heart of Wayzata. Inside, the incredible finishes and materials set a tone of luxury that carries throughout every room. Custom woodwork, designer carpeting, and rich, full-slab onyx marble finishes define the interiors. The kitchen is a showpiece, featuring a dramatic backlit onyx worktop, while the powder room stuns with illuminated onyx walls. Every bathroom is fully clad in stone, with the upstairs bath offering underfloor heating for added comfort. A solid brass staircase railing with tailored runners and stair rods serves as a striking focal point on the open-concept main level. Backlit tray ceilings above the piano in the main lounge add architectural drama, complementing the multiple fireplaces and elegant design. Offering uninterrupted, year-round views of Lake Minnetonka from the rooftop, this home is a rare offering in both design and location. The expansive primary suite includes a gas fireplace, spa-style walk-through bath with soaking tub, and dual walk-in closets. A flexible lower level functions perfectly as a media room or guest suite, and a rooftop deck delivers sweeping lake views—ideal for entertaining or private relaxation. Additional features include a three-story elevator, radiant in-floor heating, and easy walkability to Wayzata’s acclaimed lakefront, dining, and shopping destinations.
Plymouth-Wayzata, located between Lake Minnetonka and Medicine Lake, is a lakeside and suburban Plymouth neighborhood with wooded shorelines and polished retail pockets. The neighborhood’s character concentrates around the Wayzata Boulevard–Lake Street corridor, where marina slips, sidewalk patios, and small storefronts set a lake-town cadence. Wayzata Bar & Grill, 6Smith, and the Wayzata Depot anchor local routines with dining, gathering, and a touch of rail history. Housing ranges from mid-century ramblers to newer builds on curving, tree-lined streets. Trails and parks stitch together water views and everyday errands. The pace feels outdoors-forward, with boats, bikes, and café tables sharing the same calendar.
Provided by Walk Score and Local Logic
Market insights
540 Rice St E · $2,650,000
DAYS ON MARKET
220 days
The average home goes pending in 26 days.
SALE-TO-LIST
99.9%
Most homes are selling 0% below list price.
LIST PRICE
$2,650,000
Median sale price in this area is $339,042. (87% lower than this home)
PRICE DROP
0 price drops
24% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Hardwood floors
Natural woodwork
Paneled doors
Security system
Wet bar
Kitchen center island
Kitchen window
Balcony
French doors
Primary bedroom walk-in closet
Walk-in closet
Accessible elevator installed
Bedrooms
3 bedrooms
Primary bedroom suite with private bath and walk-thru closet
Upper-level bedrooms
Lower-level bedroom
Bathrooms
Primary ensuite with separate tub and walk-in shower stall
Upper-level 3/4 bath
Basement 3/4 bath
Main floor half bath
Kitchen
Cooktop
Wall oven
Microwave
Dishwasher
Refrigerator
Kitchen island
Eat-in kitchen / informal dining options
Laundry & utility
Washer and dryer included
Laundry room with sink on upper level
Washer/dryer hookup
Flooring
Hardwood floors
Heating & cooling
Forced air heating
Fireplace(s) provide supplemental heat
Central air conditioning
Exterior features
Deck
Stone exterior accents
Partial fencing
Tree coverage (medium)
Public transit within ~6 blocks
Zero lot line
Home design
Attached residential property
Two levels
Balcony
Entry with French doors
Parking
Attached insulated and heated tuck-under garage
2 garage spaces
Security
Security system
Construction
Partial finished daylight/walkout basement
Basement is partial and partially finished
Utilities
City water connected
City sewer connected
Natural gas fuel
HOA & community
HOA managed by Ellian Management
Monthly association fee of $800 covering hazard insurance, lawn care, grounds maintenance, parking, snow removal and other services
Other
Accessible elevator installed
Electricity and solar
View estimated energy costs and solar savings for this home
Striking Landschute brownstone steps to all downtown Wayzata has to offer. Custom woodwork and onyx marble create an elegant residence for a discerning buyer. Open concept main level. Exquisite master suite features gas fireplace, walk-through bath with soaking tub, and double walk-in closets. Lower level flex space could be media room or guest suite. Rooftop deck with views of Lake Minnetonka. 3-story elevator. Heated and insulated 2-car garage. Walk to Wayzata's premier shopping and dining.
NORTHSTARMLS as Distributed by MLS Grid #4844207
Oct 16, 2018
Sold
$1,197,500
$333/sq ft
Aug 21, 2018
Pending
—
Jul 18, 2018
Listing Removed
—
Jul 17, 2018
Contingent
—
Jul 3, 2018
Price Changed
$1,295,000
$360/sq ft
Mar 12, 2018
Price Changed
$1,395,000
$387/sq ft
Sep 20, 2017
Price Changed
$1,500,000
$417/sq ft
Aug 15, 2017
Price Changed
$1,650,000
$458/sq ft
Aug 9, 2017
Price Changed
$1,745,000
$485/sq ft
Jul 17, 2017
Price Changed
$1,795,000
$498/sq ft
Jun 18, 2017
Listed
$1,995,000
$554/sq ft
Year
Property tax
Land + Additions
Assessment*
2026
$30,098 (+30.3%)
$1,563,000 + $807,400
$2,370,400
2025
$23,107 (−7.3%)
$1,104,000 + $787,700
$1,891,700
2024
$24,921 (+53.0%)
$1,168,000 + $948,500
$2,116,500
2023
$16,290 (+1.4%)
$490,000 + $884,000
$1,374,000
2022
$16,070 (+5.5%)
$490,000 + $721,000
$1,211,000
2021
$15,235 (−28.6%)
$467,000 + $690,000
$1,157,000
2020
$21,353 (+6.6%)
$440,000 + $1,093,000
$1,533,000
2019
$20,026 (−3.6%)
$400,000 + $1,038,000
$1,438,000
2018
$20,774 (+5.1%)
$400,000 + $1,064,000
$1,464,000
2017
$19,767 (+26.9%)
$335,000 + $1,053,000
$1,388,000
2015
$15,579
$290,000 + $761,000
$1,051,000
2014
$15,586 (−22.7%)
$270,000 + $762,000
$1,032,000
2013
$20,170 (+3.7%)
$300,000 + $1,025,000
$1,325,000
2012
$19,443
$300,000 + $1,025,000
$1,325,000
Public record
Beds
3
Baths
3.5
Stories
2
Lot width
35 ft.
Lot depth
58 ft.
Lot size
2,178 Sq. Ft.
Year renovated
2006
Finished Sq. Ft.
3,878
Unfinished Sq. Ft.
—
Total Sq. Ft.
3,878
Year built
2006
Style
Townhouse
County
Hennepin County
APN
06 117 22 24 0097
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 20, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 98° expected this year, 14 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Wayzata, MN • 55391
Average low and high temperatures (°F)
21
5
29
13
48
28
56
38
69
49
77
60
83
66
78
63
77
59
64
46
44
31
28
14
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
85/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.4 hrs
5.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 540 Rice St E
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $1,025,000 and $2,480,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $1.0M to $2.5M.