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$949,500

  • 5 beds
  • 3 baths
  • 3,778 sqft

168 Peninsula Road, Medicine Lake, MN 55441

For sale Est. —/mo

  • House · Single Family
  • Built in 1955
  • 0.65 acres lot
  • $251/sqft
  • 2-car garage

Overview

46 days on market MLS # 7106043

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.

Facts & features

Interior

  • Bedrooms: 5
  • Bathrooms: 3 (2 full, 1 three-quarter)
  • Finished sqft: 3,778
  • Above grade sqft: 3,440
  • Below grade sqft: 338
  • Basement: Partially Finished
  • Heating: Forced Air
  • Cooling: Central Air
  • Laundry: Main Level
  • Fireplaces: 1

Property

  • Parking: Attached Garage, Tuckunder Garage
  • Garage spaces: 2
  • Lot size: 0.65 acres
  • Lot dimensions: 84x338x96x305
  • Exterior features: Brick Veneer, Cement Board
  • Waterfront: Lake Front
  • View: Lake
  • Other structures: Guest House

Construction

  • Home type: House (Single Family)
  • Levels: One
  • Year built: 1955
  • Roof: Age Over 8 Years

Utilities

  • Sewer: City Sewer/Connected
  • Water: City Water - In Street, Well

Community & HOA

  • Subdivision: Medicine Lake Park 1st Div

Taxes & location

  • Annual taxes: $15,043 (2026)
  • County: Hennepin
  • School district: Wayzata

Listing

  • Status: For sale
  • Listed: Sep 4, 2026
  • Days on market: 46
  • MLS #: 7106043

Monthly payment

—/mo

    An example, not a loan offer. Taxes and HOA dues come from the listing when known; home insurance is a rough estimate. Mortgage insurance is not included. Your rate depends on your lender and credit.

    Location

    Nearby homes

    Listing courtesy of eXp Realty

    The data relating to real estate for sale comes in part from the Broker Reciprocity program of the Regional Multiple Listing Service of Minnesota, Inc. Information deemed reliable but not guaranteed.

    Listing information last updated October 19, 2026.