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168 Peninsula RoadMedicine Lake, MN 55441

$949,500

5 bedrooms · 3 bathrooms · 3,778 finished sq ft · 0.65 acre lot

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About this home

All offers due by noon Wednesday, 11/4/26. RARE MEDICINE LAKE OPPORTUNITY offering 96 FEET OF LAKESHORE + TWO SEPARATE RESIDENCES—166 + 168 Peninsula—BEING SOLD TOGETHER in a sought-after peninsula setting, all in WAYZATA SCHOOLS. Located in the City of Medicine Lake—a hidden gem w/ a small-town lake community feel tucked into the heart of the West Metro. MAIN HOME | 168 PENINSULA: Filled w/ natural light + lake views featuring real hardwood floors & oversized Family Room w/ floor-to-ceiling stone fireplace. Double doors open to the Sun Room w/ vaulted ceiling, walls of windows, front walkout + access to the oversized back deck overlooking the property + lake. Kitchen features granite counters, SS apps (inc gas range) & abundant cabinetry. ML offers 4 BRs + Office/Flex Space & 2 BAs. Two BRs feature vaulted ceilings + share an updated 3/4 Bath. Primary Bedroom features built-ins + private walkout to the deck overlooking the lake. LL includes Laundry Room, tuck-under garage + HUGE Storage Room w/ crawl space. OVER $50,000 IN RECENT REPAIRS, MAINTENANCE + IMPROVEMENTS, including a FULL ROOF REPLACEMENT SEPT 2026 + new soffits, fascia & gutters on a portion of the back of the home—SEE SUPPLEMENTS for details. Incredible lakeshore lot w/ mature trees + privacy. Expansive back deck + lake access area are ready for the next owner’s vision, w/ existing stairs to the lake needing to be rebuilt/reworked. Addt’l front patio surrounded by mature landscaping. GUEST HOUSE | 166 PENINSULA: Separate residence w/ its own driveway + mailbox. Full Kitchen w/ oven opens to Informal Dining + Family Room w/ fireplace & walkout to backyard. ML also features 1 BR + Flex Room, Full Bath & washer/dryer. Addt’l shed for storage. Guest House was recently tenant occupied + has previously been used as a rental; future rental use would require buyer to apply for a new rental license + complete required City inspection/approval. 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 the 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 while still just minutes from Plymouth, Wayzata, Ridgedale, restaurants, shopping + downtown Minneapolis. A unique opportunity to own 96 feet of Medicine Lake shoreline + two separate residences and bring your ideas + vision to reimagine this property and make it your own.

Home facts

Home type
Single-family home
Style
Single Family Residence
Year built
1955
Bedrooms
5
Bathrooms
3
Finished sq ft
3,778
Lot
0.65 acres
Garage
2 stalls
Basement
Partially Finished
Heating
Natural Gas, Forced Air
Cooling
Central Air
Property taxes
$15,043 a year
Listed
September 4, 2026
MLS number
7106043

Broker ReciprocityListing courtesy of eXp Realty (BROWN & Co Residential). MLS #7106043.

© 2026 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.

Keller Williams Preferred Realty is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Keller Williams Preferred Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information Deemed Reliable But Not Guaranteed.

Broker ReciprocityThe data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Keller Williams Preferred Realty are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers.

Keller Williams Preferred Realty participates in Regional MLS’s Broker Reciprocity℠ program, allowing us to display other brokers’ listings on our site. However, Keller Williams Preferred Realty displays only listings located in the Minnesota communities covered on this website. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available. Listing data last updated November 3, 2026 at 10:01 PM (Central). Use of listing data is subject to the license agreement. Open House information is subject to change without warning.

How it compares

168 Peninsula Road, Medicine Lake, MN 55441 is a 5-bedroom single-family home built in 1955 on Medicine Lake, listed for $949,500 on September 4, 2026 by eXp Realty. That works out to $251 per finished square foot.

Source: Huerkamp Home Group, from the active listings in our communities on November 3, 2026 at 10:01 PM (Central). This is not an appraisal, competitive or comparative market analysis, CMA or home valuation.

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