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111 1st Street
111 1st Street
111 1st Street
111 1st Street
111 1st Street

111 1st Street, Excelsior, MN 55331 - MLS# 7122163

MLS® #: 7122163|Days on Market: 72|Listed: Aug 17, 2026

$574,900

$599,900↓ 4.2%
Bedrooms
3
Bathrooms
2
Square Feet
2,316
Acres
0.06
Year Built
1915
Property Type
Residential
Heating
Natural Gas, None
Cooling
None
Days on Market
72
School District
276 - Minnetonka

Rare redevelopment opportunity on 1st Street - the “gem of all the streets” in the Village of Excelsior! Most of the homes on this quiet, one-way street are new or substantially renovated! Bring your vision to this gutted single-family home and create something truly special in one of the lake area’s most desirable and walkable communities. Renovate the existing structure or start fresh with new construction and take advantage of the property’s prime location and one block from Excelsior Commons, the swim beach, tennis courts, baseball diamond, and the City of Excelsior boat docks.

Architectural plans have already been developed with local architect Mike Sharratt, who has an as a great track record with the City of Excelsior, for a thoughtfully designed home that works beautifully with the small size of the lot. This will give the next owner an exciting head start on the possibilities.

Enjoy the best of the walkable Excelsior lifestyle just blocks from downtown, with restaurants, shops, coffee, parks, trails, beaches and Lake Minnetonka all close by. Opportunities to create a custom home in the Village are increasingly hard to find.

Bring your builder, your vision, and create something exceptional in Excelsior.

111 1st Street, Excelsior, MN 55331

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Interior Information

BasementFull
FuelNatural Gas

Size & Levels

LevelsTwo
Total Finished Sq Ft2,316 sq ft
Main Level Finished850 sq ft

Bathrooms

Full Baths2

Exterior & Parking

ExteriorShakes
ConstructionFrame
RoofAsphalt, Pitched
FoundationBlock
ParkingGravel, Asphalt, Driveway - Other Surface

Lot & Utilities

Property SubtypeSingle Family
Lot Size0.06 acres
Lot Dimensions75x36x75x36
ZoningResidential-Single Family
SubdivisionAuditors Sub 135
TownshipExcelsior
CountyHennepin
SewerCity Sewer - In Street
WaterCity Water - In Street
Road FrontageCurbs, Paved Streets, Sidewalks, Storm Sewer

Financial & Tax Information

Annual Taxes$5,631
Tax Year2026
Tax w/ Assessments$5,631
Assessment PendingNo
Parcel Number2711723430002
Financing OptionsConventional, Cash
List TypeExclusive Right To Sell

Location

Call 612-356-2121For Showings and Questions

Neighborhood at a Glance

In this neighborhood, homes were most commonly built in 1939 or earlier, about 62% of occupied homes are owner-occupied, and the average commute is 27 minutes.

Cost of Ownership

Median home value

$955,700

Higher than the Twin Cities metro

The midpoint of estimated values for owner-occupied homes.

Median property taxes paid

$10,001/yr

Higher than the Twin Cities metro

The midpoint of annual property taxes paid by homeowners.

Typical monthly owner costs (with mortgage)

$3,097/mo

Higher than the Twin Cities metro

Median monthly housing costs for owners with a mortgage.

Typical monthly owner costs (no mortgage)

$1,501/mo

Higher than the Twin Cities metro

Median monthly housing costs for owners without a mortgage.

Median rent

$1,174/mo

Lower than the Twin Cities metro

The midpoint of monthly gross rent, including utilities.

Homes in the Area

Owner-occupied homes

62%

Lower than Twin Cities metro overall

The share of occupied homes lived in by their owners.

Median year built

1973

Similar to the Twin Cities metro

The midpoint of years when homes in the area were built.

Home age by decade

The share of homes built during each period.

  • 2010-20198%
  • 2000-200912%
  • 1990-19995%
  • 1980-198911%
  • 1970-197915%
  • 1960-196910%
  • 1950-195912%
  • 1940-19493%
  • 1939 or earlier20%

Types of homes

The share of housing units in each building type.

  • Single-family detached58%
  • Townhome / attached6%
  • 5+ units31%

Getting Around

Average commute

27 min

Higher than the Twin Cities metro

The average one-way travel time to work for commuters.

How people get to work

The share of workers using each listed way to get to work.

  • Drive alone61%
  • Work from home32%

Homes with broadband

98%

Similar than Twin Cities metro overall

The share of households with a broadband internet subscription.

Estimates for the surrounding census tract, not this specific home.

Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Schools

Minnetonka Public School District

This home is in the Excelsior Elementary, Minnetonka West Middle and Minnetonka Senior High attendance areas of Minnetonka Public School District.

Elementary

Excelsior Elementary

Grades K-5 · 0.5 mi away

Enrollment
707
Students per teacher
12.9

441 Oak St, Excelsior, MN 55331

(952) 401-5650

Middle

Minnetonka West Middle

Grades 6-8 · 1.6 mi away

Enrollment
1,297
Students per teacher
16

6421 Hazeltine Blvd, Excelsior, MN 55331

(952) 401-5300

High

Minnetonka Senior High

Grades 9-12 · 2.8 mi away

Enrollment
3,514
Students per teacher
19

18301 Hwy 7, Minnetonka, MN 55345

(952) 401-5700

School assignments can change. Verify enrollment with Minnetonka Public School District.

Sources: Minnesota Department of Education attendance areas (2025-26); NCES Common Core of Data 2024 via the Urban Institute Education Data Portal.

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Listed by: Compass
Source: NorthstarMLS

Copyright 2026 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Information Deemed Reliable But Not Guaranteed. 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, Inc. Real estate listings held by brokerage firms other than Pederson Realty are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.