Coming soon 08/20

$1,695,000

162 Peninsula Rd, Medicine Lake, MN 55441

4beds

3,043sqft

$10,105/mo

Get pre-qualified

Single Family

Built in 1982

0.52 Acres Lot

$-- Zestimate^®

$557/sqft

$-- HOA

What's special

Private oasis on Medicine Lake, 10 Minutes from Downtown Minneapolis. Taken down to the studs after its 2004 purchase, this home sits back from the road behind mature gardens and a curving driveway — private, quiet, and in the top-rated Wayzata School District. A heated saltwater pool (rebuilt 2016) anchors the outdoor living, with multiple patios and decks, including dining deck under a fairy-lit mature vine canopy— all with panoramic views of the lake. A graded path leads down to the lake and dock. Inside, an open kitchen and great room center on an oversized slider framing the water, warmed by a slate-faced fireplace. Three upper bedrooms with three baths, and a lower-level primary suite with lake views, jetted tub, and steam shower. Attached garage with utility room, plus a detached 3-car garage with boat storage. City sewer updated and water installed in 2025. No HOA.

1 day

412

29

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 5
Full bathrooms: 2
3/4 bathrooms: 1
1/2 bathrooms: 2

Bedroom

Level: Lower
Area: 247 Square Feet
Dimensions: 19 x 13

Bedroom 2

Level: Upper
Area: 180 Square Feet
Dimensions: 12 x 15

Bedroom 3

Level: Upper
Area: 156 Square Feet
Dimensions: 12 x 13

Bedroom 4

Level: Upper
Area: 120 Square Feet
Dimensions: 12 x 10

Deck

Level: Main
Area: 494 Square Feet
Dimensions: 38 x 13

Dining room

Level: Main
Area: 182 Square Feet
Dimensions: 13 x 14

Great room

Level: Main
Area: 330 Square Feet
Dimensions: 22 x 15

Kitchen

Level: Main
Area: 196 Square Feet
Dimensions: 14 x 14

Laundry

Level: Lower
Area: 182 Square Feet
Dimensions: 14 x 13

Living room

Level: Main
Area: 182 Square Feet
Dimensions: 14 x 13

Recreation room

Level: Lower
Area: 322 Square Feet
Dimensions: 23 x 14

Storage

Level: Lower
Area: 81 Square Feet
Dimensions: 9 x 9

Heating

Forced Air

Cooling

Central Air

Appliances

Included: Central Vacuum, Chandelier, Dishwasher, Dryer, Exhaust Fan, Humidifier, Gas Water Heater, Water Filtration System, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Trash Compactor, Washer, Water Softener Owned
Laundry: Lower Level, Laundry Room, Sink

Features

Central Vacuum
Basement: Block,Daylight,Finished,Full,Storage Space,Tile Shower,Walk-Out Access
Number of fireplaces: 2
Fireplace features: Amusement Room, Family Room, Free Standing, Masonry, Gas, Insert

Interior area

Total structure area: 3,719
Total interior livable area: 3,043 sqft
Finished area above ground: 1,900
Finished area below ground: 1,143

Video & virtual tour

View virtual tour

Property

Parking

Total spaces: 5
Parking features: Attached, Asphalt, Electric, Garage Door Opener, Multiple Garages
Attached garage spaces: 5
Has uncovered spaces: Yes

Accessibility

Accessibility features: None

Features

Levels: Four or More Level Split
Patio & porch: Composite Decking, Covered, Deck, Patio
Has private pool: Yes
Pool features: In Ground, Heated, Indoor
Fencing: Invisible
Has view: Yes
View description: Panoramic
Waterfront features: Lake Front
Frontage length: Water Frontage: 75

Lot

Size: 0.52 Acres
Dimensions: 75 x 335
Features: Accessible Shoreline, Island/Peninsula, Tree Coverage - Medium

Details

Additional structures: Storage Shed
Foundation area: 1900
Parcel number: 2511822320048
Zoning description: Residential-Single Family

Construction

Type & style

Home type: SingleFamily
Property subtype: Single Family

Materials

Roof: Age 8 Years or Less,Architectural Shingle

Condition

New construction: No
Year built: 1982

Utilities & green energy

Electric: Circuit Breakers, Power Company: Xcel Energy
Gas: Natural Gas
Sewer: City Sewer/Connected
Water: City Water/Connected, Well

Community & HOA

Community

Subdivision: Medicine Lake Park 1st Div

HOA

Has HOA: No

Location

Region: Medicine Lake

Financial & listing details

Price per square foot: $557/sqft
Tax assessed value: $1,405,700
Annual tax amount: $20,582
Date on market: 8/14/2026
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
5/28/2004	Sold	$865,000+130.7%$284/sqft
Source: Public Record Report a problem
7/16/1997	Sold	$375,000$123/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$19,736 +6.8%	$1,405,700 -0.3%
2024	$18,472 +9.8%	$1,409,300 +4%
2023	$16,824 +6.5%	$1,355,000 +14.1%
2022	$15,801 +3.5%	$1,188,000 +20.2%
2021	$15,267 -1.9%	$988,000 +1.5%
2020	$15,565 +1.9%	$973,000 +2.2%
2019	$15,267 -1.9%	$952,000 +0.6%
2018	$15,565 +6.3%	$946,000 +5.1%
2017	$14,641 +9.5%	$900,000 +15.8%
2016	$13,369 +11.5%	$777,000 -0.6%
2015	$11,994 +2.1%	$782,000 +8.2%
2014	$11,749 +5.2%	$723,000 +1.3%
2013	$11,164 -9.4%	$714,000 -12.5%
2012	$12,321 +0.5%	$816,000 -1.6%
2011	$12,264 +0.5%	$829,000 -6.2%
2010	$12,202 +1.5%	$884,000 -3.1%
2009	$12,027 +21.6%	$912,000 +22.2%
2006	$9,887 +20.1%	$746,100 +19.1%
2005	$8,235 +10.2%	$626,200 +15%
2004	$7,474 +8.3%	$544,600 +12%
2002	$6,902 -31.1%	$486,300
2001	$10,024	--