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$2,650,000 -$450,000 (-14.52%) Price Reduced

  • For Sale
  • Active
  • Townhouse
  • 3 Beds
  • 1 Full Bath
  • 3 Partial Baths
  • 3,601 Sq. Ft.
  • 2 Car Garage
  • Updated 22 hours ago
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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.

Full Property Details for 540 Rice St E

General

  • Price: $2,650,000
  • HOA FEE: $800/month
  • Taxes: $23,107 (2025)
  • Status: Active
  • Type: Townhouse
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6697633
  • Updated: 1/29/2026
  • Added to Site: 119 day(s) ago

Interior

  • Fireplace: Yes
  • Number of Fireplaces: 2
  • Fireplace(s): Gas, Living Room, Primary Bedroom
  • Appliances: Cooktop, Dishwasher, Dryer, Exhaust Fan, Microwave, Refrigerator, Wall Oven, Washer

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 1
  • 3/4 Bathrooms: 2
  • Half Bathrooms: 1

Bedrooms

  • Total Bedrooms: 3

Other Rooms

  • Eat-in kitchen: Yes
  • Dining Room: Eat-In Kitchen, Informal Dining Room, Kitchen/Dining Room, Living/Dining Room
  • Formal Dining Room: Eat In Kitchen, Informal Dining Room, Kitchen/Dining Room, Living/Dining Room
  • Laundry: Laundry Room, Sink, Upper Level, Laundry Room, Sink, Upper Level

Additional Information

  • Amenities: Balcony, Deck, French Doors, Hardwood Floors, Kitchen Center Island, Kitchen Window, Primary Bedroom Walk-In Closet, Natural Woodwork, Paneled Doors, Security System, Washer/Dryer Hookup, Wet Bar, Walk-In Closet

Exterior

  • Porch/Patio/Deck: Deck

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Spaces: 2
  • Parking Features: Attached Garage, Heated Garage, Insulated Garage, Tuckunder Garage

Location

  • County: Hennepin
  • Township: Wayzata
  • Subdivision: Rice Street Brownstones Add
  • Driving Directions: West on Wayzata Boulevard E to South on Minnetonka Avenue S. East on Rice Street E. Home is on the right.

School Information

  • School District: 1280 - Wayzata
  • High School District: Wayzata

Community

  • Association: Yes
  • Assoc. Name: Ellian Management
  • Assoc. Fees Include: Building Exterior, Hazard Insurance, Lawn Care, Other, Maintenance Grounds, Parking, Snow Removal

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air, Fireplace(s), In-Floor Heating
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)

Structural Information

  • Basement: Yes
  • Finished basement: Yes
  • Basement Desc.: Daylight/Lookout Windows, Partial, Partially Finished, Walk-Out
  • Foundation Size: 1408
  • Disability Access: Accessible Elevator Installed
  • Square Feet: 3,601
  • Above Ground: 2,933 Sq. Ft.
  • Below Ground: 668 Sq. Ft.
  • Year Built: 2006

Lot Features

  • Lot Size (Acres): 0.05
  • Lot Dimensions: 58 x 35
  • Frontage: City Street, Curbs, Paved Streets, Sidewalks
  • Zoning: Residential-Multi-Family
  • Lot Description: Public Transit (w/in 6 blks), Medium Tree Coverage, Zero Lot Line
  • Fencing (Description): Partial

Financial Considerations

  • Association Fee: $800
  • Assoc Fee Freq.: Monthly
  • Tax Amount: $23,107
  • Tax Year: 2025
  • Terms: Conventional, Cash

Disclosures and Reports

  • Legal Description: LOT 002 BLOCK 001 RICE STREET BROWNSTONES ADDN
  • Property ID: 611722240097
Buyer's Brokerage Compensation: 2.7%
Not binding unless confirmed by separate agreement among applicable parties.

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— 540 Rice St E —

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Schools serving 540 Rice St E

School District:Wayzata Public School District
NameGradesDistance
Gleason Lake Elementary School
310 County Road 101, Plymouth, MN 55447
K-50.9 mi
Wayzata West Middle School
149 Barry Avenue North, Wayzata, MN 55391
6-80.4 mi
Wayzata High School
4955 Peony Lane North, Plymouth, MN 55446
9-125.1 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 540 Rice St E Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/29/2026
Price Reduced
$2,650,000
-14.52%
MLS
10/03/2025
Listed
$3,100,000
66.01%
MLS
3/21/2023
Sold
$1,867,400
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 540 Rice St E

Year
Property Taxes
Change
Tax Assessment
Change
2025
$23,107
-7%
$1,891,700
-11%
2023
$24,921
53%
$2,116,500
54%
2023
$16,290
—
$1,374,000
13%
2023
$16,290
-24%
$1,211,000
-21%
2020
$21,353
7%
$1,533,000
7%
2019
$20,026
-4%
$1,438,000
-2%
2018
$20,774
5%
$1,464,000
5%
2017
$19,767
18%
$1,388,000
20%
2016
$16,742
7%
$1,153,000
10%
2015
$15,579
—
$1,051,000
2%
2014
$15,586
-23%
$1,032,000
-22%
2013
$20,170
—
$1,325,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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540 Rice Street E, Wayzata, MN 55391 (MLS# 6697633) is a Townhouse property with 3 bedrooms, 1 full bathroom and 3 partial bathrooms. 540 Rice Street E is currently listed for $2,650,000 and was received on October 03, 2025. This property is listed by Meredith Howell from our Wayzata Office.Want to learn more about 540 Rice Street E? Do you have questions about finding other Townhouse real estate for sale in Wayzata? You can browse all Wayzata real estate or contact a Coldwell Banker agent to request more information.

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