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$699,900 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 2 Units
  • 6 Total Beds
  • 3 Car Garage
  • Updated 3 hours ago
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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.

Full Property Details for 115 Peninsula Rd

General

  • Price: $699,900
  • Taxes: $8,306 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6811562
  • Updated: 3/6/2026
  • Added to Site: 1 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 4

Bedrooms

  • Total Bedrooms: 6

Other Rooms

  • Laundry: Lower Level, Lower Level

Exterior

  • Porch/Patio/Deck: Patio

Parking

  • Garage: Yes
  • Garage Description: 33 x 25
  • Garage Spaces: 3
  • Parking Features: Detached Garage, Asphalt, Multiple Garages, Shared Garage/Stall

Location

  • County: Hennepin
  • Township: Medicine Lake
  • Subdivision: Medicine Lake Park 1st Div
  • Driving Directions: 169 N to hwy 55 W. to S Shore Dr. N (right) Left on S. Shore Drive. Left on Peninsula road. house on left.

School Information

  • School District: 1280 - Wayzata
  • High School District: Wayzata

Heating & Cooling

  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (In-Street), Well

Structural Information

  • Basement: Yes
  • Basement Desc.: Block
  • Foundation Size: 1700
  • Roof: Age 8 Years or Less
  • Disability Access: None
  • Square Feet: 2,950
  • Above Ground: 1,700 Sq. Ft.
  • Below Ground: 1,250 Sq. Ft.
  • Finished Down/Base.: 2,950 Sq. Ft.
  • Year Built: 1961

Unit Information

  • Units w/Refrigerators: 2

Lot Features

  • Lot Size (Acres): 0.57
  • Lot Dimensions: 120 x 200
  • Frontage: City Street
  • Zoning: Residential-Multi-Family
  • Lot Description: Corner Lot, Irregular Lot, Light Tree Coverage

Financial Considerations

  • Tax Amount: $8,306
  • Tax Year: 2025
  • Terms: Conventional, Cash
  • Owner Pays: Exterior Maintenance, Grounds Care, Insurance, Sewer, Taxes, Trash Collection
  • Pays Trash: Owner Pays

Disclosures and Reports

  • Legal Description: BLOCK 012 MEDICINE LAKE PARK 1ST DIV THAT PART OF LOTS 8 AND 9 LYING NELY OF A LINE RUNNING FROM A PT IN NWLY LINE OF LOT 9 DIS 76 7/10 FT NELY OF MOST WLY COR THEREOF TO A PT IN SELY LINE OF LOT 8 DIS 81 5/10 FT NELY OF MOST SLY COR THEREOF
  • Property ID: 2511822330040

Listed by Compass

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— 115 Peninsula Rd —

  • Compass

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NMLS#: 1598647

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Schools serving 115 Peninsula Rd

School District:Wayzata Public School District
NameGradesDistance
Sunset Hill Elementary School
13005 Sunset Trail, Plymouth, MN 55441
K-51.8 mi
Wayzata East Middle School
12000 Ridgemount Avenue West, Plymouth, MN 55441
6-81.4 mi
Wayzata High School
4955 Peony Lane North, Plymouth, MN 55446
9-125.7 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 115 Peninsula Rd Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/05/2026
Listed
$699,900
68.65%
MLS
11/07/2017
Sold
$415,000
—
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 115 Peninsula Rd

Year
Property Taxes
Change
Tax Assessment
Change
2025
$7,982
6%
$621,500
3%
2023
$7,517
2%
$602,300
6%
2023
$7,339
—
$568,000
23%
2023
$7,339
21%
$463,000
13%
2020
$6,072
-2%
$408,570
13%
2019
$6,198
2%
$360,000
6%
2018
$6,058
13%
$341,000
5%
2017
$5,368
1%
$326,000
7%
2016
$5,325
29%
$306,000
4%
2015
$4,130
—
$294,120
4%
2014
$4,131
-5%
$283,220
-4%
2013
$4,340
—
$294,120
—
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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115 Peninsula Road, Medicine Lake, MN 55441 (MLS# 6811562) is a Multi-Family property with 2 units containing 6 bedrooms and 0 full bathrooms. 115 Peninsula Road is currently listed for $699,900 and was received on March 05, 2026. Want to learn more about 115 Peninsula Road? Do you have questions about finding other Multi-Family real estate for sale in Medicine Lake? You can browse all Medicine Lake real estate or contact a Coldwell Banker agent to request more information.

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