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$1,599,900

  • For Sale
  • Active
  • Single Family
  • 5 Beds
  • 2 Full Baths
  • 2 Partial Baths
  • 7,574 Sq. Ft.
  • 3 Car Garage
  • Updated 6 days ago
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Lakefront living at its finest, this one-of-a-kind luxury home features stunning views from every room, an inviting pool, stone fire pit area, privacy, and soft modern architecture. It is both impressive and comfortable at the same time. Set on more than 3 acres with 329 feet of shoreline, this custom-built executive Tom Mihm home was originally designed as the builder's personal residence - and it shows in the exceptional layout, quality craftsmanship, and incredible connection to the lake from nearly every room. With over 7,500 finished square feet, home highlights include a 2 story great room, high vaulted ceilings, expansive picture windows, kitchen island, four fireplaces, and incredible entertaining space.  Fresh interior and exterior paint, new hardwood and LVP flooring, a new roof, updated landscaping, and new concrete driveway and front porch add to the home's refreshed appeal. Relaxation and enjoyment is amplified with the new whole house Sonos S2 sound system. Recently updated, the kitchen has a large center island and opens naturally into multiple living and dining spaces, including a renovated four-season porch with new mini-split that overlooks the pool and lake. Upstairs, the primary suite includes its own fireplace, elegant bath, and peaceful panoramic lake views. The walkout lower level was made for fun, featuring a media room with projector, retractable screen, Sonos sound, and a custom TV wall with three picture-in-picture TVs - perfect for game days, movie nights, or hosting friends and family. There's also a wet bar, pool table, space for the ping pong table, game table, and work-out room. Outside, there's a new hot tub, new firepit, new maintenance-free deck boards, and an awesome pool with slide, diving board, and plenty of patio space for sunbathing, making it easy to enjoy the property year-round. Additional features include a Jack and Jill bath connecting two upper-level bedrooms, a spacious main floor laundry room, and abundant lower-level storage space that is rarely found in lake homes of this size. Whether spending quiet mornings on the water, swimming and fishing off the shoreline, or taking the boat over to community favorite restaurant, The Chart House, for dinner or events, the lifestyle here is just as exceptional as the home itself. The lake is ideal for kayaking, canoeing, swimming, fishing, and small 10hp motorized boats, offering a quieter and more relaxed lake experience. Location is close to everything, but feels perfectly secluded in a friendly, upscale neighborhood. Come see for yourself all that this amazing home has to offer!

Full Property Details for 16584 Klamath Terrace

General

  • Price: $1,599,900
  • Taxes: $14,746 (2026)
  • Status: Active
  • Type: Single Family
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7082814
  • Updated: 6/2/2026
  • Added to Site: 11 day(s) ago

Interior

  • Fireplace: Yes
  • Number of Fireplaces: 4
  • Fireplace(s): Amusement Room, Gas, Living Room, Primary Bedroom
  • Appliances: Air-To-Air Exchanger, Central Vacuum, Cooktop, Dishwasher, Disposal, Dryer, Exhaust Fan, Water Filtration System, Microwave, Refrigerator, Stainless Steel Appliances, Wall Oven, Washer, Water Softener Owned

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 2
  • 3/4 Bathrooms: 1
  • Half Bathrooms: 1

Bedrooms

  • Total Bedrooms: 5

Other Rooms

  • Dining Room: Breakfast Area, Separate Formal Dining Room
  • Formal Dining Room: Breakfast Area, Separate/Formal Dining Room
  • Laundry: Laundry Room, Main Level, Laundry Room, Main Level

Additional Information

  • Amenities: Deck, Dock, French Doors, Hardwood Floors, Hot Tub, Kitchen Center Island, Kitchen Window, Primary Bedroom Walk-In Closet, Natural Woodwork, Patio, Porch, Panoramic View, Security System, In-Ground Sprinkler, Tile Floors, Vaulted Ceiling(s), Wet Bar, Walk-In Closet
  • Pool: Yes
  • Pool Description: Below-Ground, Heated, Outdoor

Exterior

  • Porch/Patio/Deck: Composite Decking, Covered, Deck, Enclosed, Front Porc

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Description: 31 x 45
  • Garage Spaces: 3
  • Parking Features: Attached Garage, Concrete, Finished Garage, Heated Garage, Insulated Garage

Location

  • County: Dakota
  • Township: Lakeville
  • Subdivision: Kingsley Cove
  • Driving Directions: From 35W, take Exit 86 for Cty Rd 46 - go West. Continue on 162nd St W. Take Klamath Trail to Klamath Terrace to home at the end of the cul-de-sac.

School Information

  • School District: 194 - Lakeville
  • High School District: Lakeville

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air, Fireplace(s)
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)

Structural Information

  • Basement: Yes
  • Finished basement: Yes
  • Basement Desc.: Daylight/Lookout Windows, Drain Tiles, Finished, Full, Kitchenette, Walk-Out
  • Foundation Size: 2575
  • Roof: Age 8 Years or Less, Architectural Shingle, Asphalt
  • Disability Access: None
  • Square Feet: 7,574
  • Above Ground: 5,509 Sq. Ft.
  • Below Ground: 2,565 Sq. Ft.
  • Finished Down/Base.: 8,074 Sq. Ft.
  • Year Built: 1991

Lot Features

  • Lot Size (Acres): 3.13
  • Lot Dimensions: 442 x 45 x 431 x 522
  • Frontage: City Street, Cul-de-Sac, Paved Streets, Storm Sewer
  • Zoning: Residential-Single Family
  • Lot Description: Accessible Shoreline

Water Features

  • Water Front Desc.: Lakefront
  • Water Front Feet: 275
  • Water Front Elev.: 40
  • Lake Front: Yes
  • Lake Bottom: Reeds, Sand, Soft

Financial Considerations

  • Tax Amount: $14,746
  • Tax Year: 2026
  • Terms: Conventional, VA, FHA, Cash, Other

Disclosures and Reports

  • Legal Description: KINGSLEY COVE 6 1
  • Property ID: 224186001060

Listed by Realty Exchange

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Schools serving 16584 Klamath Terrace

School District:Lakeville Area Schools
NameGradesDistance
Orchard Lake Elementary School
16531 Klamath Trail, Lakeville, MN 55044
K-50.2 mi
Kenwood Trail Middle School
19455 Kenwood Trail, Lakeville, MN 55044
6-83.1 mi
Lakeville South High School
21135 Jacquard Avenue, Lakeville, MN 55044
9-124.7 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 16584 Klamath Terrace Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/29/2026
Listed
$1,599,900
113.35%
MLS
12/03/2010
Sold
$749,900
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 16584 Klamath Terrace

Year
Property Taxes
Change
Tax Assessment
Change
2025
$14,198
1%
$1,171,700
6%
2025
$14,036
—
$1,105,300
4%
2025
$14,036
6%
$1,063,100
—
2023
$13,222
—
$1,066,400
23%
2023
$13,222
13%
$869,100
8%
2022
$11,692
—
$803,500
1%
2020
$11,710
23%
$799,400
11%
2019
$9,533
-2%
$723,000
—
2018
$9,710
5%
$722,500
6%
2017
$9,258
-1%
$684,500
4%
2016
$9,358
4%
$660,900
—
2015
$8,994
—
$661,900
6%
2014
$8,951
-4%
$626,900
-5%
2013
$9,292
—
$658,300
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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16584 Klamath Terrace, Lakeville, MN 55044 (MLS# 7082814) is a Single Family property with 5 bedrooms, 2 full bathrooms and 2 partial bathrooms. 16584 Klamath Terrace is currently listed for $1,599,900 and was received on May 29, 2026. Want to learn more about 16584 Klamath Terrace? Do you have questions about finding other Single Family real estate for sale in Lakeville? You can browse all Lakeville real estate or contact a Coldwell Banker agent to request more information.

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