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Pending
  • $1,700,000

    178 Peninsula Rd, Medicine Lake, MN 55441

    5beds
    4,001sqft
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    Single Family
    Built in 1978
    0.28 Acres Lot
    $-- Zestimate®
    $425/sqft
    $-- HOA

    What's special

    Offer Received- OFFERS DUE by 4PM on Sunday, 5/31/26. This one is MAGICAL. The kind of opportunity buyers wait decades for. UPDATED + STUNNING w/ 50 ft of lakeshore on sought-after Medicine Lake in top-rated WAYZATA SCHOOLS. Turnkey, move-in ready & meticulously maintained w/ expansive lake views on all 3 levels. Floor-to-ceiling windows span the width of the home, flooding spaces w/ natural light & bringing lake life into nearly every room. Recently updated throughout w/ designer touches & wood flooring on ML. Renovated Gourmet Kitchen w/ quartz counters & backsplash, center island, ceramic sink, SS apps (inc gas cooktop) opens to informal Dining & Living Room w/ dramatic floor-to-ceiling 2-sided stone fireplace & Formal Dining w/ built-ins. Walk out to oversized deck w/ modern cable railing overlooking the lake—an incredible extension of the living space to relax, entertain & enjoy expansive water views plus the peaceful setting w/ eagles, loons, swans & beautiful lake wildlife often nearby. ML also includes 2 Beds both opening to oversized deck above garage. UL w/ stunning Primary Suite featuring vaulted ceilings, floor-to-ceiling stone fireplace, expansive lake views, walk-in closet w/ organizational system & spa-like renovated Bath w/ stand-alone tub, tiled shower, dual sinks & quartz counters. UL also includes addt’l Bed/Office/Flex Space & tons of hidden storage. Walkout LL w/ floor-to-ceiling windows, Family Room w/ stone fireplace, gaming space & full wet bar w/ soapstone counters, white cabinetry, full range, refrigerator, microwave & sitting area. LL also w/ addt’l Bed, 3/4 Bath & Laundry Room w/ front-load washer/dryer. Walk out to LL deck w/ Jacuzzi hot tub (included), sitting area, expansive yard & stairs leading to the lake. Storage shed + storage box included. NEW ROOF in 2019. **Extensively upgraded since purchase ($450K-$500K invested), pls see supplement for full list of improvements.** Enjoy lake life on Medicine Lake—the 2nd largest lake in Hennepin County—offering boating, kayaking, paddle boarding, fishing & miles of trails for walking, running & biking. Walk to newly renovated park at the end of the peninsula w/ pavilion, pickleball, tennis, basketball courts + new playground. Nestled on a peninsula surrounded by water, this special community feels tucked away & peaceful while still being just minutes from Plymouth, Wayzata, Ridgedale, restaurants, shops & downtown Minneapolis. Surrounded by nature, it feels up north while still enjoying all the conveniences of the city. AN ABSOLUTE GEM!
    41 days
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    1,910
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    95
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    Zillow last checked:

    Listing updated:

    Listed by:

    BROWN & Co Residential 763-416-1279,

    eXp Realty

    Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7058094MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 5
      • Bathrooms: 4
      • Full bathrooms: 2
      • 3/4 bathrooms: 1
      • 1/2 bathrooms: 1
      Bedroom
      • Level: Main
      • Area: 155.25 Square Feet
      • Dimensions: 13.5x11.5
      Bedroom 2
      • Level: Main
      • Area: 133 Square Feet
      • Dimensions: 14 x 9.5
      Bedroom 3
      • Level: Upper
      • Area: 236.25 Square Feet
      • Dimensions: 17.5x13.5
      Bedroom 4
      • Level: Upper
      • Area: 210 Square Feet
      • Dimensions: 15x14
      Bedroom 5
      • Level: Lower
      • Area: 175 Square Feet
      • Dimensions: 14x12.5
      Primary bathroom
      • Level: Upper
      • Area: 110 Square Feet
      • Dimensions: 11x10
      Dining room
      • Level: Main
      • Area: 128 Square Feet
      • Dimensions: 16x8
      Family room
      • Level: Lower
      • Area: 215.6 Square Feet
      • Dimensions: 15.4x14
      Informal dining room
      • Level: Main
      • Area: 94.5 Square Feet
      • Dimensions: 10.5x9
      Kitchen
      • Level: Main
      • Area: 135 Square Feet
      • Dimensions: 15x9
      Kitchen 2nd
      • Level: Lower
      • Area: 162 Square Feet
      • Dimensions: 13.5x12
      Laundry
      • Level: Lower
      • Area: 81 Square Feet
      • Dimensions: 9x9
      Living room
      • Level: Main
      • Area: 260 Square Feet
      • Dimensions: 20x13
      Mud room
      • Level: Lower
      • Area: 117 Square Feet
      • Dimensions: 13x9
      Office
      • Level: Lower
      • Area: 84 Square Feet
      • Dimensions: 10.5x8
      Recreation room
      • Level: Lower
      • Area: 218.75 Square Feet
      • Dimensions: 17.5x12.5
      Walk in closet
      • Level: Upper
      • Area: 76.5 Square Feet
      • Dimensions: 9x8.5
      Heating
      • Forced Air
      Cooling
      • Central Air
      Appliances
      • Included: Humidifier, Water Softener Owned
      Features
      • Basement: Finished,Full
      • Number of fireplaces: 3
      • Fireplace features: Family Room, Living Room, Primary Bedroom, Wood Burning
      Interior area
      • Total structure area: 4,001
      • Total interior livable area: 4,001 sqft
      • Finished area above ground: 4,001
      • Finished area below ground: 0

      Property

      Parking
      • Total spaces: 2
      • Parking features: Attached
      • Attached garage spaces: 2
      Accessibility
      • Accessibility features: None
      Features
      • Levels: Two
      • Stories: 2
      • Patio & porch: Deck, Patio
      • Has view: Yes
      • View description: Lake
      • Has water view: Yes
      • Water view: Lake
      • Waterfront features: Lake Front, Waterfront Elevation(0-4), Lake Bottom(Sand)
      • Frontage length: Water Frontage: 50
      Lot
      • Size: 0.28 Acres
      • Dimensions: 50 x 244 x 50 x 252
      • Features: Island/Peninsula
      Details
      • Foundation area: 1618
      • Parcel number: 2511822230004
      • Zoning description: Residential-Single Family

      Construction

      Type & style
      • Home type: SingleFamily
      • Property subtype: Single Family
      Materials
      • Roof: Age 8 Years or Less
      Condition
      • New construction: No
      • Year built: 1978

      Utilities & green energy

      • Gas: Natural Gas
      • Sewer: City Sewer/Connected
      • Water: 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: $425/sqft
      • Tax assessed value: $1,281,300
      • Annual tax amount: $18,640
      • Date on market: 5/9/2026
      • Cumulative days on market: 17 days
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        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        6/4/2026Pending sale$1,700,000$425/sqft
        Source: NorthstarMLS as distributed by MLS GRID #7058094 Report a problem
        6/1/2026Listing removed$1,700,000$425/sqft
        Source: eXp Realty #7058094 Report a problem
        5/29/2026Listed for sale$1,700,000$425/sqft
        Source: NorthstarMLS as distributed by MLS GRID #7058094 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$18,392 +7.6%$1,281,300 -2.9%
        2024$17,094 +8.5%$1,319,200 +4.7%
        2023$15,753 +3.1%$1,260,300 +12.7%
        2022$15,274 +3.1%$1,118,000 +16.7%
        2021$14,819 +3.5%$958,000 +1.2%
        2020$14,323 -3.3%$947,000 +7.2%
        2019$14,819 +3.5%$883,000 +3.4%
        2018$14,323 +7.3%$854,000 +2.2%
        2017$13,344 +8.4%$836,000 +12.7%
        2016$12,315 +8.2%$742,000 -2.4%
        2015$11,385 +0.1%$760,000 +11.9%
        2014$11,377 +8.1%$679,000 +0.1%
        2013$10,521 -6.9%$678,000 -10.3%
        2012$11,305 +0.2%$756,000 -1.8%
        2011$11,286 +0.7%$770,000 -6%
        2010$11,205 +10.1%$819,000 +4.3%
        2009$10,175 +33.7%$785,000 +32%
        2006$7,610 +16.1%$594,500 +15%
        2005$6,555 +8.7%$517,000 +15.6%
        2004$6,030 +6.6%$447,400 +12%
        2002$5,657 -31.2%$399,500
        2001$8,226 --

        Find assessor info on the county website

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          HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
          Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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          Climate risks

          Neighborhood: 55441

          Getting around

          15 / 100
          Car-Dependent
          38 / 100
          Somewhat Bikeable

          Nearby schools

          GreatSchools rating

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