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!
Pending
$1,700,000
178 Peninsula Rd, Medicine Lake, MN 55441
5beds
4,001sqft
Single Family
Built in 1978
0.28 Acres Lot
$-- Zestimate®
$425/sqft
$-- HOA
What's special
- 41 days |
- 1,910 |
- 95 |
Zillow last checked:
Listing updated:
Listed by:
BROWN & Co Residential 763-416-1279,
eXp Realty
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7058094
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
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/4/2026 | Pending sale | $1,700,000$425/sqft |
Source: | ||
| 6/1/2026 | Listing removed | $1,700,000$425/sqft |
Source: eXp Realty #7058094 Report a problem | ||
| 5/29/2026 | Listed for sale | $1,700,000$425/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax 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 | $8,226 | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
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
Nearby schools
GreatSchools rating
- 8/10Sunset Hill Elementary SchoolGrades: K-5Distance: 1.9 mi
- 9/10Wayzata East Middle SchoolGrades: 6-8Distance: 1.6 mi
- 10/10Wayzata High SchoolGrades: 9-12Distance: 5.4 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Minnesota
- Hennepin County
- Medicine Lake
- 55441
- 178 Peninsula Rd






