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  • $1,750,000

    178 Peninsula Rd, Medicine Lake, MN 55441

    5beds
    4,001sqft
    Single Family
    Built in 1978
    0.28 Acres Lot
    $1,749,900 Zestimate®
    $437/sqft
    $6,291 Estimated rent

    Home value

    $1,749,900

    $1.63M - $1.87M

    $6,291/mo

    Zestimate® history
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    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!

    Zillow last checked:

    Listing updated:

    Listed by:

    BROWN & Co Residential 763-416-1279,

    eXp Realty

    Bought with:

    Susan M Hewitson

    Fazendin REALTORS

    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: $437/sqft
    • Tax assessed value: $1,281,300
    • Annual tax amount: $18,640
    • Date on market: 5/9/2026
    • Cumulative days on market: 2 days

    Price history

    DateEventPrice
    7/17/2026Sold$1,750,000+2.9%$437/sqft
    Source: NorthstarMLS as distributed by MLS GRID #7058094 Report a problem
    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

    Neighborhood: 55441

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $1,749,900
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $1,749,900