4365 40th St SW Waverly, MN 55390
Estimated payment $4,899/month
About This Lot
Located just 1.5 miles north of Waverly, this property earns its name from the unique presence of Twelve Mile Creek, which meanders entirely through the land. Originating from Waverly and Little Waverly Lakes, the creek flows through a scenic wooded corridor before ultimately connecting to the North Fork Crow River approximately half a mile to the north. These wooded creek and river corridors serve as habitat corridors for wildlife, and it shows. Deer sign, turkey tracks, actual turkeys, and ducks were seen on the property. With this kind of natural setting, you can literally hunt right out your back door. Given the connection to both lakes and a river system, it's entirely possible that fish species occasionally travel through the creek as well. On either side of the wooded creek corridor lies productive tillable ground, about 26 total acres with a solid CPI rating of 79.6. The eastern field, just over 6 acres, is a great candidate for a larger food plot setup. The tillable land is currently rented for the 2025 crop season, and the tenant will be allowed to harvest the crops. After that, the new owner has full flexibilitykeep it in production, convert it to pasture for horses, or design and convert it into more habitat. The farm site includes an older farmhouse with roughly 2,000 finished square feet, featuring three bedrooms and one bath, along with additional rooms that could easily serve as extra bedrooms or an office. If you desire a new or larger home, there is plenty of space to build your dream home of the asphalt county road. The existing septic system was updated in 2016 and is sized for a 4-bedroom home, and there’s a drilled well already in place. One of the real highlights here is the impressive 80' x 45' fully concrete shop. The front includes a covered porch; inside, half the space is heated, while the other half has in-floor PEX lines already installed for future heat if desired. The seller previously used the heated portion for machine workit’s clean, functional, and includes in-floor heat, water, and plumbing stubbed in for a toilet. Additional outbuildings include a lean-to and a detached 2-car garage, providing even more space for gear, equipment, or toys. All in all, the creek setting is what really sets this property apart for me. Give a shout, and we can discuss further or schedule your own private showing!
Greg Graczyk
Listed on: 06/05/2025

Property Details
Property Type
- Land
Est. Annual Taxes
- $2,342
Additional Features
- Current uses include hunting/fishing
- Horses Allowed On Property
Map
Home Values in the Area
Average Home Value in this Area
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 | $2,342 | $604,000 | $436,500 | $167,500 |
2023 | $2,208 | $597,800 | $433,000 | $164,800 |
2022 | $2,336 | $501,100 | $350,000 | $151,100 |
2021 | $2,332 | $451,500 | $313,200 | $138,300 |
2020 | $2,240 | $426,300 | $290,300 | $136,000 |
2019 | $1,962 | $255,400 | $0 | $0 |
2018 | $1,818 | $117,100 | $0 | $0 |
2017 | $2,082 | $360,600 | $0 | $0 |
2016 | $2,140 | $0 | $0 | $0 |
2015 | $2,096 | $0 | $0 | $0 |
2014 | -- | $0 | $0 | $0 |
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
06/04/2025 06/04/25 | For Sale | $850,000 | -- | $429 / Sq Ft |
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