Veteran real estate agent Julie Regan, of Lakes Sotheby's International Realty in Edina, wants to make one thing clear: Although the 2006 Orono mansion that sits on 1.62 prime acres on Lafayette Bay is back on the market less than a year after being sold, "It is not a flip."

"My clients purchased their home and thought they would be spending more time in Minnesota, but their business has taken them elsewhere," Regan said. "It's a spectacular property."

In the short time they possessed it, the owners undertook a robust renovation, refreshing most of the four-bedroom, six-bathroom property, boasting 7,520 square feet.

The house once had jewel tones and faux finishes throughout. The new owners had the entire thing repainted to make it "lighter, brighter and more on-trend with current home trends," Regan said.

The high-end updates help to highlight the home's seamless flow, with its wide walkways and bright, open spaces. The new owners also put in new light fixtures throughout, replaced the kitchen island with a larger one and put in a new backsplash.

The owners' suite includes a balcony for breakfast or evening spirits.

No feature was overlooked during the renovation. The master bath has granite countertops and glass cabinets.

"There are really great built-ins and really great details throughout the house," Regan said. "And almost all bedrooms, which are really spacious, face the lake with panoramic water views."

The aha! features in the house include an executive style office and a vaulted ceiling on the main floor, which also includes the great sunroom.

The French doors of the kitchen overlook the lake, including the property's boat access and 152 feet of shoreline. There are three docks and a canopy.

"It can accommodate a 55-foot boat," Regan noted.

Additional features include a movie theater, wine cellar, four-season sunroom and bar. Outside, there's a fire pit and pool.

The attached garage has heated floors and four stalls, but there's an additional detached carriage house with three more spaces and finished upper level.

"It's a very private property with a gated entrance, so it's secluded but central," Regan said. "This is a really fantastic and fun place built to entertain."

Realtor Julie Regan, 1-952-230-3159 or, has the $5.2 million listing.