A rare gem in the heart of Medicine Lake, this exceptional owner-occupied duplex is a dream opportunity for both investors and homeowners alike. Featuring two generously sized units, each offering updated kitchens, three bedrooms, and two bathrooms, this property effortlessly combines comfort and practicality.
Set on a sprawling half-acre lot, you'll enjoy plenty of yard space, mature trees for added privacy, and the convenience of a three-car detached garage. Nestled in the prestigious Wayzata school district and surrounded by multi-million-dollar homes, this is the only single-owner duplex in Medicine Lake—a truly unique find.
Location is key, and this property shines with its proximity to the Luce Line Trail system, Medicine Lake Regional Parks, and a quick 15-minute drive to downtown Minneapolis. For investors, Unit 2 has been rented on a month-to-month basis since 2019 at $1,900 per month, with tenants covering separate utilities—making it a hassle-free income stream.
Don’t miss your chance to own this one-of-a-kind property in a highly sought-after community. Whether you're looking to invest or create your own tranquil retreat, Medicine Lake offers the lifestyle and location you’ve been waiting for.
Closed
$670,000
115 Peninsula Rd, Medicine Lake, MN 55441
6beds
4baths
2,950sqft
Duplex Side by Side
Built in 1961
-- sqft lot
$675,200 Zestimate®
$227/sqft
$3,138 Estimated rent
Home value
$675,200
$628,000 - $729,000
$3,138/mo
Zestimate® history
Owner options
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$3,138/mo
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$3,138/mo
Rent Zestimate®
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$4,284/mo
Est. payment
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$4,284/mo
Est. payment
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List your homeWhat's special
Three-car detached garageTwo bathroomsSprawling half-acre lotPlenty of yard spaceThree bedroomsUpdated kitchensTwo generously sized units
Zillow last checked:
Listing updated:
Listed by:
Jesse Swanson 612-840-0444,
Compass
Bought with:
Austin Meimaridis
Compass
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6811562
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 4
Heating
- Forced Air
Appliances
- Laundry: Lower Level
Features
- Basement: Block
Interior area
- Total structure area: 2,950
- Total interior livable area: 2,950 sqft
- Finished area above ground: 1,700
- Finished area below ground: 1,250
Property
Parking
- Total spaces: 3
- Parking features: Detached Garage, Asphalt, Multiple Garages, Shared Garage/Stall
- Garage spaces: 3
- Details: Garage Dimensions (33x25), Garage Door Height (7)
Accessibility
- Accessibility features: None
Features
- Levels: One
- Patio & porch: Patio
- Pool features: None
Lot
- Size: 0.57 Acres
- Dimensions: 120 x 200
- Features: Corner Lot, Irregular Lot, Tree Coverage - Light
- Topography: Sloped
Details
- Foundation area: 1700
- Parcel number: 2511822330040
- Zoning description: Residential-Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex Side by Side
Materials
- Roof: Age 8 Years or Less
Condition
- New construction: No
- Year built: 1961
Utilities & green energy
- Electric: Power Company: Xcel Energy
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water - In Street, Well
Community & HOA
Community
- Subdivision: Medicine Lake Park 1st Div
Location
- Region: Medicine Lake
Financial & listing details
- Price per square foot: $227/sqft
- Tax assessed value: $619,300
- Annual tax amount: $8,306
- Date on market: 3/6/2026
- Cumulative days on market: 50 days
Price history
| Date | Event | Price |
|---|---|---|
| 5/15/2026 | Sold | $670,000-4.3%$227/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6811562 Report a problem | ||
| 4/25/2026 | Pending sale | $699,900$237/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6811562 Report a problem | ||
| 3/6/2026 | Listed for sale | $699,900+68.7%$237/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6811562 Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 11/20/2017 | Sold | $415,000+33.9%$141/sqft |
Source: Public Record Report a problem | ||
| 5/16/2017 | Listing removed | $1,650$1/sqft |
Source: Owner Report a problem | ||
| 5/8/2017 | Listed for rent | $1,650$1/sqft |
Source: Owner Report a problem | ||
| 7/26/2000 | Sold | $310,000$105/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,982 +6.2% | $619,300 -0.4% |
| 2024 | $7,517 +2.4% | $621,500 +3.2% |
| 2023 | $7,339 +9.8% | $602,300 +6% |
| 2022 | $6,687 +5.1% | $568,000 +22.7% |
| 2021 | $6,361 +4.8% | $463,000 +3.6% |
| 2020 | $6,073 -4.5% | $447,000 +9.3% |
| 2019 | $6,361 +4.8% | $409,000 +13.6% |
| 2018 | $6,073 +0.2% | $360,000 +10.4% |
| 2017 | $6,058 +12.8% | $326,000 +6.5% |
| 2016 | $5,368 +0.8% | $306,000 +0.7% |
| 2015 | $5,325 +29% | $304,000 +3.4% |
| 2014 | $4,130 -4.9% | $294,000 -3.3% |
| 2013 | $4,340 -3.1% | $304,000 -7.3% |
| 2012 | $4,478 -0.6% | $328,000 -2.4% |
| 2011 | $4,506 -4.6% | $336,000 -10.9% |
| 2010 | $4,722 -2.2% | $377,000 -6.2% |
| 2009 | $4,826 +10.8% | $402,000 +38.7% |
| 2006 | $4,354 +43.9% | $289,800 +15% |
| 2005 | $3,025 +9% | $252,000 +15.1% |
| 2004 | $2,776 +14% | $219,000 +17.7% |
| 2002 | $2,435 -27.5% | $186,000 |
| 2001 | $3,358 | -- |
Find assessor info on the county website
Neighborhood: 55441
Nearby homes
- $--3 bd2 ba1.5k sqft115 Peninsula Rd #1, Minneapolis, MN 55441Off Market
- $--2 bd1 ba900 sqft9 Kaiser Ave, Minneapolis, MN 55441Off Market
- $--0.56 Acres1X Kaiser Ave, Medicine Lake, MN 55441Off Market
- $506,4003 bd2 ba1.8k sqft117 Peninsula Rd, Medicine Lake, MN 55441Off Market
- $--3 bd2 ba1.8k sqft117 Peninsula Rd #117, Medicine Lake, MN 55441Off Market
- $481,4003 bd2 ba1.3k sqft119 Peninsula Rd, Medicine Lake, MN 55441Off Market
- $536,4002 bd2 ba1.2k sqft7 Kaiser Ave, Medicine Lake, MN 55441Off Market
- $811,7003 bd2 ba1.7k sqft116 Peninsula Rd, Medicine Lake, MN 55441Off Market
Nearby schools
GreatSchools rating
- 8/10Sunset Hill Elementary SchoolGrades: K-5Distance: 1.8 mi
- 9/10Wayzata East Middle SchoolGrades: 6-8Distance: 1.4 mi
- 10/10Wayzata High SchoolGrades: 9-12Distance: 5.7 mi
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Estimated market value
$675,200
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Estimated market value
$675,200
- Minnesota
- Hennepin County
- Medicine Lake
- 55441
- 115 Peninsula Rd
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