Browse All Greenwood MN Between $500K - $600K Properties for Sale

TEAR ME DOWN...or Bring Me Back to Life! Opportunity knocks in one of the Lake Minnetonka area's most desirable locations. Whether you're looking for a renovation project, investment opportunity, or future building site, this 3-bedroom home offers exceptional potential just a short walk from Historic Excelsior. Nestled among mature trees and next to the regional trail system, you'll enjoy easy access to Maynards, Excelsior Commons, Lake Minnetonka, shopping, dining, the library, and all the charm and activities that make Excelsior such a sought-after destination. The home features a private wooded setting, oversized 25x21 garage, expansive deck for entertaining, backyard firepit area, and a functional floor plan with plenty of space to reimagine. The main level includes a primary suite with a private ¾ bath and walk-in closet, while the walkout lower level offers two additional bedrooms, a full bath, and a large amusement room with bar area. Recent improvements include fresh interior paint and new carpeting, but buyers should expect repairs, deferred maintenance, and the need for cosmetic updating throughout. This is not a turnkey property and is being offered as an opportunity for someone with vision to build equity in a neighborhood surrounded by significantly higher-priced homes. The true value lies in the location, privacy, walkability, and potential. Rarely does a property in this setting become available at such an attractive price point. Renovate, refresh, expand, or rebuild—the choice is yours. Pre-listing inspection report available in MLS supplements. Buyers are encouraged to review the report prior to submitting an offer.

5200 Greenwood Circle, Greenwood

Listing courtesy of RE/MAX Advantage Plus.

$569,900

3 Beds ⋅ 2 Baths ⋅ 7061367 MLS

Wake up to beautiful Mead Lake views and spend your days enjoying everything lake life has to offer. From boating, fishing, kayaking, and paddleboarding in the summer to snowmobiling and ATV adventures throughout the year, this property is perfectly situated for those who love the outdoors. This beautifully maintained 1.5-story home offers 3 bedrooms, 2 bathrooms, a loft, open-concept living, and convenient main-floor laundry. Large windows capture scenic water views, creating a warm and inviting atmosphere throughout the home. Quality craftsmanship is evident with cherry trim, alder doors, a hickory accent wall, and new maple hardwood kitchen cabinets (2024). A new radiant boiler (2025) adds efficiency and comfort for every season. Step outside to enjoy morning coffee overlooking the lake, spend evenings entertaining on the patio, and gather around the lakeside firepit while watching unforgettable sunsets. The heated attached garage, workshop, and two storage sheds provide plenty of space for vehicles, tools, and recreational equipment. Located near over 100,000 acres of county forest land, this property also offers direct access to ATV and snowmobile trails, making it an exceptional destination in every season. Whether you're looking for a year-round residence or the perfect lake getaway, this Mead Lake home offers the lifestyle you've been searching for. Schedule your private showing today!

W8895 North Lake Road, Greenwood

Listing courtesy of Woods & Water Realty Inc..

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The 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. Real estate listings held by brokerage firms other this firm are marked with the Broker Reciprocity logo. Information Deemed Reliable But Not Guaranteed. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

Listing data © 2026 Regional Multiple Listing Service of Minnesota. All rights reserved. By searching, you agree to the EULA.

Between $500K - $600K Greenwood Real Estate

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