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  • $699,900

    115 Peninsula Rd, Medicine Lake, MN 55441

    6beds
    4baths
    2,950sqft
    : 
    Multi Family
    Built in 1961
    -- sqft lot
    $691,900 Zestimate®
    $237/sqft
    $-- HOA

    What's special

    Three-car detached garageTwo bathroomsSprawling half-acre lotPlenty of yard spaceThree bedroomsUpdated kitchensTwo generously sized units
    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.
    15 days
    |
    2,448
    |
    70
    |

    Zillow last checked: 7 hours ago

    Listing updated: March 12, 2026 at 02:46pm

    Listed by:

    Jesse Swanson 612-840-0444,

    Compass

    Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6811562MLS Logo

    Tour with a local agent

      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: Multi Family
      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: $237/sqft
      • Tax assessed value: $619,300
      • Annual tax amount: $8,306
      • Date on market: 3/6/2026
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        Estimated market value

        $691,900

        $657,000 - $726,000

        $1,851/mo

        Price history

        Price history
        DateEventPrice
        3/6/2026Listed for sale$699,900+68.7%$237/sqft
        Source: NorthstarMLS as distributed by MLS GRID #6811562 Report a problem
        3/24/2021Listing removed--
        Source: Owner Report a problem
        11/20/2017Sold$415,000+33.9%$141/sqft
        Source: Public Record Report a problem
        5/16/2017Listing removed$1,650$1/sqft
        Source: Owner Report a problem
        5/8/2017Listed for rent$1,650$1/sqft
        Source: Owner Report a problem
        7/26/2000Sold$310,000$105/sqft
        Source: Public Record Report a problem

        Public tax history

        Public tax history
        YearProperty taxesTax 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

        BuyAbility℠ payment

        Est. payment
        $4,103/mo
        Principal & interest
        $3421
        Property taxes
        $682
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          Climate risks

          Neighborhood: 55441

          Getting around

          25 / 100
          Car-Dependent
          57 / 100
          Bikeable

          Nearby schools

          GreatSchools rating

          Local experts in 55441

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