511 2nd St #3, Excelsior, MN, 55331
About This Home
Welcome to Lake House #3, an exceptional luxury residence in the heart of Excelsior, just moments from the shores of Lake Minnetonka. Designed for effortless, turn-key living, this stunning condominium blends refined craftsmanship with elevated modern design. The home showcases impeccable finishes throughout, including wide-plank hardwood floors, custom cabinetry, and striking 9.5-foot coffered ceilings. The gourmet kitchen is a true centerpiece, featuring Thermador stainless steel appliances, a quartz waterfall-edge island, and a walk-in pantry with custom organizational shelving. A stylish wet bar with a dual-zone beverage center enhances the home’s entertaining appeal. Seamless indoor-outdoor living is achieved with a dramatic 12-foot accordion door that opens to a lakeside three-season porch with a wood-paneled ceiling, gas fireplace, and breathtaking 180-degree views. The luxurious primary suite offers a spacious walk-in closet with in-unit laundry, along with a spa-like bath featuring heated floors, dual vanities, a soaking tub, and a separate walk-in shower. Each additional bedroom includes its own en-suite bath and custom closet system. Thoughtful conveniences continue with three heated garage stalls, EV charging capability, and ample storage. Enjoy unparalleled walkability to Excelsior’s vibrant dining, shopping, and year-round community events, along with nearby attractions like the Excelsior Commons and regional trails.
Getting Around
Somewhat Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 2023
Materials
- Roof: Age 8 Years or Less
Type & Style
- Home type: Condo
- Property subType: (CC) Low Rise (3- Levels)
Interior
Appliances
- Appliances included: Cooktop,Dishwasher,Disposal,Dryer,Exhaust Fan,Microwave,Stainless Steel Appliance(s),Wall Oven,Washer,Wine Cooler
- Laundry features: Main Level,In Unit
Basement
- Basement: None
Bedroom
- Level: Main
- Area: 270
- Dimensions: 18x15
Bedroom2
- Level: Main
- Area: 198
- Dimensions: 18x11
Bedroom3
- Level: Main
- Area: 143
- Dimensions: 13x11
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 4
- Full bathrooms: 1
- 3/4 bathrooms: 2
- 1/2 bathrooms: 1
Deck
- Level: Main
- Area: 180
- Dimensions: 18x10
Deck
- Level: Main
- Area: 220
- Dimensions: 5x44
Dining Room
- Level: Main
- Area: 104
- Dimensions: 13x8
Features
- Number of fireplaces: 2
- Fireplace features: Gas,Living Room,Other
- Fireplace: Yes
- Finished area below ground: 0
- Finished area above ground: 2,552
Heating & Cooling
- Heating features: Forced Air,Fireplace(s)
- Cooling features: Central Air
Interior Area
- Total structure area: 2,552
- Total interior livable area: 2,552 sqft
Kitchen
- Level: Main
- Area: 330
- Dimensions: 15x22
Living Room
- Level: Main
- Area: 312
- Dimensions: 24x13
Property
Accessibility
- Accessibility features: Accessible Elevator Installed
Details
- Parcel number: 3511723220195
- Attached to another structure: Yes
- Zoning description: Residential-Single Family
- Foundation area: 2552
Features
- Levels: One
- Stories: 1
- Patio & porch: Covered,Deck
Lot
- Lot size: 8,450 sqft
- Lot size dimensions: Common
Parking
- Total spaces: 3
- Parking features: Garage Door Opener,Guest,Heated Garage,Garage,Secured,Shared Garage/Stall,Storage,Tuckunder Garage
- Has garage: Yes
- Attached garage spaces: 3
- Covered spaces: 3
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Hail
- Heat Wave
- Tornado
- Inland Flooding
- Strong Wind
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in Hennepin County and Minnesota
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $10,871 | $130,452 |
| Home Insurance * | $923 | $11,076 |
| Property Taxes | $1,970 | $23,640 |
| Electricity | $215 | $2,582 |
| Total | $13,979 | $167,748 |
Income You'd Need if You Spent...
Minnesota FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-27 | Price change | $2,150,000 |
| 2026-06-10 | Listed for sale | $2,275,000 |
| 2025-08-26 | Listing removed | $8,900 |
| 2025-07-29 | Listed for rent | $8,900 |
| 2025-07-11 | Listing removed | $2,175,000 |
| 2025-05-21 | Price change | $2,175,000 |
| 2025-03-14 | Listed for sale | $2,275,000 |
| 2024-07-29 | Listing removed | $2,350,000 |
| 2024-05-04 | Listed for sale | $2,350,000 |
| 2024-04-24 | Listing removed | -- |
| 2024-04-08 | Listed for sale | $2,350,000 |
| 2024-03-26 | Listing removed | -- |
| 2024-03-04 | Listed for sale | $2,350,000 |
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