Score
0Wayzata, MN
1065 Edgewood Hills Rd
1.6M
4 beds
4 baths
5,633 sqft
4 bd • 4 ba • 5,633 sf
This analysis was generated on 2/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$1,599,900
Price/Sq.Ft
$284
Year Built
1970
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Large Square Footage: With 5,633 sqft, the home offers ample living space for families or those who value room to spread out.
• Desirable School District: The property is located near Orono schools, which have ratings of 7/10 and 8/10, making it attractive to families with school-aged children.
• Inclusion of Appliances: The property comes equipped with a range of appliances, including stainless steel options, a wine cooler, and ENERGY STAR qualified models, adding convenience and potential energy savings.
• Multiple Rooms: The listing mentions a variety of rooms, including bedrooms, a dining room, exercise room, family room, game room, great room, kitchen, office, and sunroom, providing flexibility for various lifestyles.
The Bad
• High Price Compared to Median Sold Price: Without specific data on comparable sales in Wayzata, it's challenging to definitively assess the property's value. However, at $1,599,900, the price is likely above the median sold price for the area, potentially limiting buyer appeal.
• Limited Information on Property Condition: The absence of a detailed property description makes it difficult to evaluate the home's condition and potential maintenance needs. A thorough inspection is essential.
• Climate Risks: While flood and fire risks are minimal (1/10), the property faces minor risks related to air quality (2/10) and heat (2/10), potentially impacting comfort and energy costs.
• Lack of Recent Sales Data: The most recent sale was in 2024. More up-to-date comparable sales data is needed to assess the current market value accurately.
The Ugly
• Significant Price Reduction: The property was initially listed at $3,999,900 and then reduced by 60% to $1,599,900. This drastic price cut may signal underlying issues with the property, such as overpricing, condition problems, or market challenges.
• High Estimated Insurance: The estimated annual insurance cost of $5,759.64 is substantial and could indicate potential risks associated with the property, such as age, location, or construction type.
• Older Construction: Built in 1970, the home may have outdated systems, materials, and building codes, potentially leading to costly repairs or renovations.
• Lack of Property Description: The absence of a detailed property description raises concerns about transparency and may hide potential issues that buyers should be aware of.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• Buyers Seeking a Large Home in a Well-Regarded School District: The home's 5,633 sqft and proximity to Orono schools (rated 7-8/10) make it suitable for those prioritizing space and education.
• Buyers Comfortable with a Home Built in the 1970s: Individuals who appreciate vintage architecture and are prepared for potential updates or renovations.
• Buyers Seeking a Home with Modern Amenities: The inclusion of stainless steel appliances, a wine cooler, and an air-to-air exchanger appeals to those who value contemporary features.
• Buyers Looking for a Home with Multiple Living Spaces: The presence of a family room, game room, great room, and sunroom caters to those who desire versatile areas for relaxation and entertainment.
Not For
• Buyers Seeking a Newly Constructed Home: The property was built in 1970, making it less appealing to those who prefer modern construction and updated building codes.
• Buyers on a Strict Budget: The price of $1,599,900 and estimated annual insurance of $5,759.64 may be prohibitive for buyers with limited financial resources.
• Buyers Seeking a Rental Property with High Cash Flow: Given the median rental rate for a 4-bedroom home ($2,880) and the high purchase price, achieving a strong cash flow may be challenging.
• Buyers Sensitive to Climate Risks: While flood and fire risks are minimal, the minor air quality and heat risks may deter those with respiratory issues or heat sensitivities.
Demographics
Area Median Income
$131,068
Property History
Price History
Ownership Timeline
$1,550,000Financed
Jul 23, 2024Gordon H Ritz Jr, Anne Larsen Simonson Revocable TrustCustom One Homes Llc
Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Nov 15, 2016Anne Lerson Simonson, Anne Larsen RitzAnne Larsen Simonson, Anne Larsen Simonson Revocable Trust
Warranty Deed
Non-Arm's Length Transactions
Property Taxes
$18,279
2024 Tax Assessment
16.8%from previous year
Assessed Value$1,698,500
Tax Rate1.08%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
7.0/10
GoodHigh
8.0/10
ExcellentFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,310
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$1,599,900
Price/sqft
$284
Layout
4 bd•4 ba
Days on market
21 daysat time of analysis
Stats in the Area
Based on 2 comparable properties nearby
Average Price
$2,548,500
37.2%
Your price is 37.2% below average
Median Price
$2,675,000
40.2%
Based on 2 recent sales
Price per Sq.Ft
$419
32.2%
Your price is 32.2% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 450 Peavey Lane, Wayzata, MN 55391 | $2,675,000 | 6,256 | 5 | 5 | $42850.5% | 2/21/2025 |
| 450 Old Long Lake Road, Orono, MN 55391 | $2,422,000 | 5,891 | 4 | 5 | $41144.8% | 11/6/2024 |
450 Peavey Lane, Wayzata, MN 55391
Price: $2,675,000
Sq.Ft: 6,256
Beds/Baths: 5/5
$/Sq.Ft:
$42850.5%
Sale Date: 2/21/2025
450 Old Long Lake Road, Orono, MN 55391
Price: $2,422,000
Sq.Ft: 5,891
Beds/Baths: 4/5
$/Sq.Ft:
$41144.8%
Sale Date: 11/6/2024
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