Seller's Agent in 2023
Daniel Hollerman
Compass
(952) 292-1200
18 in this area
100 Total Sales
3131 Lafayette Ridge Rd Wayzata, MN 55391
Estimated Value: $1,318,000 - $1,559,775
5
Beds
3.5
Baths
3,677
Sq Ft
$388/Sq Ft
Est. Value
Highlights
- Deeded Waterfront Access Rights
- Dock Facilities
- 3 Fireplaces
- Schumann Elementary School Rated A-
- Beach
- Great Room
About This Home
As of September 2023An exceptional opportunity in historic Minnetonka Beach including dedicated dockage on Lake Minnetonka's Lafayette Bay. This property offers endless recreational opportunities through The Lafayette Ridge Home Owners Association which features 32' covered boat slips, beach access, a waterfront gazebo, and a tennis court. Home highlights include: A functional main floor with all the right spaces for daily living and entertainment, three large upper-level bedrooms with a primary suite, and an adjacent flex room potentially used as a fourth bedroom, extra closet space, or office. Walk out lower level with wet bar, amusement area, second flex room, and guest bedroom. Located on a quiet cul de sac in an ideal lakeside location, near the Dakota Walking Trail, the Lafayette Country Club, and local restaurants and retail, featuring the award-winning Orono School District.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $12,717
Year Built
- Built in 1984
Lot Details
- 0.4 Acre Lot
- Chain Link Fence
HOA Fees
- $271 Monthly HOA Fees
Parking
- 2 Car Attached Garage
Home Design
- Flex
Interior Spaces
- 2-Story Property
- Wet Bar
- 3 Fireplaces
- Wood Burning Fireplace
- Entrance Foyer
- Great Room
- Family Room
- Living Room
Kitchen
- Double Oven
- Range
- Dishwasher
- Wine Cooler
- Stainless Steel Appliances
- The kitchen features windows
Bedrooms and Bathrooms
- 5 Bedrooms
Laundry
- Dryer
- Washer
Finished Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
- Basement Window Egress
Outdoor Features
- Deeded Waterfront Access Rights
- Dock Facilities
Utilities
- Forced Air Heating and Cooling System
- Water Filtration System
Listing and Financial Details
- Assessor Parcel Number 1611723330013
Community Details
Overview
- Association fees include beach access, dock, shared amenities
- Lafayette Ridge Homeowners Association, Phone Number (612) 961-2820
- Lafayette Ridge Subdivision
Recreation
- Beach
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 7, 2023
Closed on
Sep 29, 2023
Sold by
Sylvester Mark and Sylvester Jessica
Bought by
Drake Alexander
Seller's Agent
Daniel Hollerman
Compass
Buyer's Agent
Myra Jensen
BRIX Real Estate
List Price
$1,325,000
Sold Price
$1,188,000
Premium/Discount to List
-$137,000
-10.34%
Views
58
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$238,694
Avg. Annual Appreciation
9.59%
Original Mortgage
$726,200
Outstanding Balance
$711,839
Interest Rate
7.09%
Mortgage Type
New Conventional
Estimated Equity
$714,855
Purchase Details
Listed on
Aug 7, 2023
Closed on
Sep 22, 2023
Sold by
Sylvester Mark Edward and Sylvester Jessica Lee
Bought by
Drake Alexander H
Seller's Agent
Daniel Hollerman
Compass
Buyer's Agent
Myra Jensen
BRIX Real Estate
List Price
$1,325,000
Sold Price
$1,188,000
Premium/Discount to List
-$137,000
-10.34%
Views
58
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$726,200
Outstanding Balance
$711,839
Interest Rate
7.09%
Mortgage Type
New Conventional
Estimated Equity
$714,855
Purchase Details
Closed on
Jul 15, 2015
Sold by
Pacioni Kathryn Ehrmann
Bought by
Sylvester Mark Edward and Sylvester Jessica Lee
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$262,500
Interest Rate
4.02%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
Sep 15, 2000
Sold by
Baldry Kurt R and Baldry Vicki L
Bought by
Ehrmann Kathryn D
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Drake Alexander | $1,188,000 | -- | |
| Drake Alexander H | $1,188,000 | Executive Title Services | |
| Sylvester Mark Edward | $755,000 | Edina Realty Title Inc | |
| Ehrmann Kathryn D | $385,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Drake Alexander | $726,200 | |
| Closed | Drake Alexander H | $726,200 | |
| Previous Owner | Sylvester Mark Edward | $262,500 | |
| Previous Owner | Sylvester Mark Edward | $417,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/29/2023 09/29/23 | Sold | $1,188,000 | -8.3% | $323 / Sq Ft |
| 08/30/2023 08/30/23 | Pending | -- | -- | -- |
| 08/19/2023 08/19/23 | Price Changed | $1,295,000 | -2.3% | $352 / Sq Ft |
| 08/07/2023 08/07/23 | For Sale | $1,325,000 | -- | $360 / Sq Ft |
Source: NorthstarMLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $13,303 | $1,152,500 | $635,300 | $517,200 |
| 2023 | $13,688 | $1,226,600 | $710,900 | $515,700 |
| 2022 | $9,530 | $1,130,000 | $646,000 | $484,000 |
| 2021 | $9,610 | $779,000 | $368,000 | $411,000 |
| 2020 | $9,153 | $787,000 | $383,000 | $404,000 |
| 2019 | $8,853 | $716,000 | $348,000 | $368,000 |
| 2018 | $9,215 | $683,000 | $321,000 | $362,000 |
| 2017 | $9,414 | $698,000 | $357,000 | $341,000 |
| 2016 | $9,290 | $688,000 | $357,000 | $331,000 |
| 2015 | $8,933 | $667,000 | $340,000 | $327,000 |
| 2014 | -- | $524,000 | $205,000 | $319,000 |
Source: Public Records
Agents Affiliated with this Home
-
Daniel Hollerman
-
Myra Jensen
Buyer's Agent in 2023
Myra Jensen
BRIX Real Estate
(763) 227-0618
3 in this area
64 Total Sales
Map
Source: NorthstarMLS
MLS Number: 6413661
APN: 16-117-23-33-0013
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