Minnetonka Homes under $400,000

Welcome to Minnetonka, Minnesota—a vibrant city nestled in the heart of Hennepin County, just a short drive from the bustling Twin Cities of Minneapolis and St. Paul. Known for its beautiful lakes, lush parks, and a strong sense of community, Minnetonka is a perfect blend of suburban charm and urban convenience. With a population of around 50,000 residents, this thriving city offers a welcoming atmosphere, excellent schools, and a variety of recreational opportunities.

When it comes to finding your dream home, Minnetonka boasts an impressive selection of properties, including charming homes priced under $400,000. Here, you can discover delightful single-family homes, townhouses, and condos that cater to a range of lifestyles and preferences. These affordable options make it easier than ever to settle in this picturesque community without breaking the bank.

Imagine living in a serene neighborhood with tree-lined streets, where parks and lakes are just a stone's throw away. Enjoy weekends spent hiking the scenic trails of the nearby Minnetonka Regional Park or taking in the breathtaking views of Lake Minnetonka. With a variety of shops, restaurants, and cultural experiences just around the corner, you'll find everything you need within reach.

Whether you're a first-time homebuyer, a growing family, or looking to downsize, Minnetonka offers a wealth of opportunities to create lasting memories in a beautiful setting. Explore the homes under $400,000 and discover how you can make this enchanting city your new home sweet home!

Newest Minnetonka Homes under $400,000

$332,000

COMING SOON Status ⋅ 2 Beds ⋅ 2 Baths ⋅ 7152475 MLS ⋅ 1,171 SqFt.

Welcome to true one-level living in this rare, south-facing 2-bedroom plus den townhome in the highly sought-after Preston Trails community! This beautifully updated end unit offers the privacy of a twin home, sharing just one wall, with stylish modern finishes and low-maintenance living throughout. Step inside to discover vaulted ceilings, abundant natural light, and an inviting open-concept layout centered around a living room with a cozy gas fireplace. The beautifully updated kitchen features soft-close cabinetry, a center island, stainless steel appliances, and a combination of quartz and granite countertops—perfect for everyday living and entertaining. Fully remodeled in 2018, with additional updates in 2019, this move-in-ready home features luxury vinyl plank flooring, updated trim, and modern light fixtures throughout. The versatile den is ideal for a home office, creative space, or additional flex space, with the option to add a sleek glass door for enhanced privacy. Enjoy peace of mind with extensive updates, including brand-new Andersen windows throughout, new blinds, an updated electrical panel (2019), a new main water line (2020), a newer water heater, an updated water softener, and an updated city water meter (2026). Additional highlights include a newly finished walk-in shower (2026), in-unit washer and dryer, installed gutters and downspouts, and an existing Vivint security system. The oversized attached two-car garage offers exceptional storage and everyday convenience. Outside, relax on your private walkout patio and enjoy the fenced side yard, with lawn care taken care of by the HOA for truly low-maintenance living.

2261 Wildwood Circle, Minnetonka

Listing courtesy of Keller Williams Realty Integrity Lakes.

$220,000

ACTIVE Status ⋅ 3 Beds ⋅ 3 Baths ⋅ 7128403 MLS ⋅ 2,195 SqFt.

Fantastic location and priced to sell! This charming home offers an exciting opportunity to build equity and make it truly your own. While the property would benefit from some updating and TLC, it offers a spacious and functional layout with plenty of potential. Enjoy comfortable main-level living featuring a cozy living room with a wood-burning fireplace, perfect for relaxing on cool evenings. Step outside onto the deck and take in the peaceful setting surrounded by mature trees. The large kitchen offers plenty of space, along with a convenient eat-in dining area. The primary suite includes a 3/4 bath, while the full basement expands your living and storage options with a generous family room plus a separate workshop/storage area. An oversized one-car garage provides additional convenience and storage. Whether you're a first-time buyer ready to stop renting or someone looking for a home with room to add your personal touch, this property is a wonderful opportunity to own in a fantastic location!

15695 Sussex Drive, Minnetonka

Listing courtesy of RE/MAX Results.

$247,000

ACTIVE Status ⋅ 2 Beds ⋅ 2 Baths ⋅ 7155308 MLS ⋅ 1,364 SqFt.

Fantastic Townhome with low monthly HOA boasting high-value updates and quick access to: 62, 494, 169, 212 and 7. Just 22 minutes to the airport and 1/2 mile to Shady Oak Lake/Beach! Conveniently located near retail, restaurants, gyms, salons and so much more! This 2 bedroom home features a main floor 1/2 bath, primary en suite, upper level laundry and private deck off the 2nd bedroom. The backyard green space is abundant and very private! NEW Carrier HVAC 2024, NEW water heater 2024, ALL NEW windows and sliding glass doors 2021-2023, NEW oven 2023, NEW refrigerator 2023, ALL NEW carpet 2021. Want more? NEW roof in 2021! Don't miss out on easy living in a high demand location.

5424 Sanibel Drive, Minnetonka

Listing courtesy of Edina Realty, Inc..

$359,900

ACTIVE Status ⋅ 2 Beds ⋅ 2 Baths ⋅ 7155147 MLS ⋅ 1,210 SqFt.

Enjoy easy, beautifully updated one-level living in a peaceful Minnetonka setting! Tucked along a quiet street in the desirable Saddlewood community. this inviting 2-bedroom, 2-bath home combines a wonderfully manageable floor plan with tranquil marsh and nature views. Step inside to fresh, move-in-ready spaces featuring newer flooring, freshly painted walls, ceilings and trim, updated lighting throughout and a brand-new primary bathroom. The spacious primary suite and second bedroom both offer thoughtfully designed custom closet systems, while in-unit laundry makes everyday living exceptionally convenient. Step outside to the beautiful deck-a favorite spot to relax, entertain or simply enjoy the peaceful natural surroundings and changing seasons. As attached 2-car garage, Minnetonka Schools and a well-run association with reasonable monthly dues complete the package. Thoughtfully improved and carefully prepared for its next owner, this is a rare opportunity for true one-level living in an exceptional Minnetonka location. Don't miss: new roof, gutters, gutter guards, flooring, lighting, paint, newer appliances, brand primary bathroom and much more.

4546 Aspenwood Trail, Minnetonka

Listing courtesy of Coldwell Banker Realty.

$348,900

ACTIVE Status ⋅ 4 Beds ⋅ 2 Baths ⋅ 7155888 MLS ⋅ 1,489 SqFt.

Welcome to the wonderful Preston Trails community and this beautifully renovated, move-in-ready Minnetonka townhome offering four bedrooms, two bathrooms, and a private two-car garage! Tucked away on a quiet cul-de-sac, this impressive home features an awesome, functional floor plan with three bedrooms on the upper level, a spacious dining area, a large living room, and an even larger family room providing plenty of flexibility for entertaining, relaxing, working from home, or everyday living. Recent improvements include new tile and luxury vinyl plank flooring, brand-new kitchen appliances, quartz countertops, renovated bathrooms, refreshed landscaping, and numerous additional updates throughout. Step outside to enjoy your own private patio conveniently positioned between the townhome and garage, creating a welcoming outdoor space for dining, grilling, or unwinding. The incredible location provides convenient access to Ridgedale-area shopping and dining, downtown Hopkins, major roadways, neighborhood parks, and Minnetonka’s extensive trail system, including regional trails connecting communities throughout the western metro. Offering generous living spaces, thoughtful updates, and exceptional convenience, this turnkey home is ready for its next owner to move in and enjoy!

9712 Cimarron Circle, Minnetonka

Listing courtesy of RE/MAX Results.

3030 Saint Albans Mill Road Unit 211, Minnetonka

$309,000

ACTIVE Status ⋅ 1 Beds ⋅ 2 Baths ⋅ 7154450 MLS ⋅ 1,012 SqFt.

A dream kitchen, updated bathrooms, and hardwood floors throughout make this desirable Saint Albans Mill condo stand out! You'll love the large Cambrai counter island, updated cabinetry, stainless appliances, and large walk-in shower and walk-in closet. The south-facing sun, views, and porch are ideal for morning coffee or a cozy fall afternoon of reading your favorite book while listening to the birds. Indoor and outdoor pools, sauna, hot tub, fitness studio, community room, and woodworking room are extensions of your home without the maintenance. Now is the perfect time to leave the snow maintenance behind and enjoy the conveniences of a turn-key lifestyle. Whether you're a snow-bird or looking to be social without having to venture out, you'll love this community. Nestled among mature trees and the Minnehaha Creek, you'll appreciate the peaceful setting.

3030 Saint Albans Mill Road Unit 211, Minnetonka

Listing courtesy of Coldwell Banker Realty.

$339,000

ACTIVE Status ⋅ 3 Beds ⋅ 2 Baths ⋅ 7154591 MLS ⋅ 1,755 SqFt.

Beautiful 3BR/2BA townhome in the award-winning Minnetonka School District, conveniently located near parks, trails, shopping, dining, and with quick access to major highways. This home is a perfect opportunity for first-time buyers or those looking to downsize! Enjoy a bright, inviting living room with a cozy fireplace, a spacious kitchen, and a dining area that opens to a private deck. The finished lower level features a large family room with a wood-burning fireplace, a porch, and a third bedroom. The HOA covers lawn care, snow removal, trash pickup, and exterior maintenance, offering truly easy, low-maintenance living.

18300 Creeks Bend Drive, Minnetonka

Listing courtesy of Algo Realty Inc.

$259,900

ACTIVE Status ⋅ 2 Beds ⋅ 3 Baths ⋅ 7152774 MLS ⋅ 1,716 SqFt.

Move-in ready multi-level townhome in a private setting within the desirable Minnetonka School District! Freshly painted throughout with new carpet and numerous recent improvements, including flooring, kitchen updates, freshly stained decks, hardware, doors, and appliances. The upper level offers two bedrooms, a full bath, and a spacious loft/office area that could potentially be converted to a third bedroom with minimal expense, adding excellent flexibility. The lower level offers additional versatile living space with its own private patiošideal for guests, a roommate, or enjoying time outdoors with pets. Enjoy convenient highway access and shared community amenities, including a sport court. The association allows up to two pets and currently has no weight restrictions. Buyer and buyer™s agent to verify all information, measurements, dimensions, association information, school boundaries, and any requirements for converting the loft to a bedroom.

4731 Spring Circle, Minnetonka

Listing courtesy of Bridge Realty, LLC.

$335,000

ACTIVE Status ⋅ 3 Beds ⋅ 1 Baths ⋅ 7133315 MLS ⋅ 1,782 SqFt.

Opportunity knocks in the Minnetonka School District! This 3-bedroom bi-level offers a chance to bring your ideas and build equity while creating a home that is truly your own. All three bedrooms are conveniently located on the upper level, along with original red oak hardwood floors and an open living/dining area. Two beautiful brick fireplaces add character, while the finished lower-level family room provides additional living space and has great natural light. Outside, enjoy a charming brick patio, mature surroundings and a 2-car tuck-under garage. The home needs updating and has deferred maintenance. It is priced accordingly, making it an appealing alternative to paying a premium for someone else's renovations. Conveniently located near parks and miles of trails, Lake Minnetonka and the Minnesota Landscape Arboretum, with shopping at Ridgedale Center and Eden Prairie Center nearby. Enjoy easy access to the shops, restaurants and activities of Excelsior, Hopkins and Chanhassen, as well as Highways 7, 62 and 494. Bring your vision and make this one your own!

5603 Woodland Road, Minnetonka

Listing courtesy of Edina Realty, Inc..

$365,000

ACTIVE Status ⋅ 3 Beds ⋅ 2 Baths ⋅ 7148771 MLS ⋅ 1,871 SqFt.

Spacious two-story end-unit townhome in the sought-after Minnetonka School District offering the convenience of true main-level living! The main floor features a primary bedroom with walk-through bath and walk-in closet, a second bedroom/den, laundry, and a vaulted great room with gas fireplace. The kitchen opens to the dining area and dinette, creating a comfortable and functional main-level layout. Upstairs, you'll find an additional bedroom and bath, along with a spacious loft/family room and approximately 284 square feet of unfinished space offering excellent potential for a 4th bedroom, home office, den, or additional finished living space. Recent updates include a new HVAC system, range and dishwasher (2026). With southwest exposure, an attached 2-car garage, flexible living spaces, and convenient access to Hwy 101 and 62, this end unit offers a rare combination of space, convenience, and future potential.

18512 Lime Tree Court, Minnetonka

Listing courtesy of Compass.

$369,900

ACTIVE Status ⋅ 3 Beds ⋅ 3 Baths ⋅ 7149368 MLS ⋅ 2,145 SqFt.

Welcome to this exceptional Minnetonka townhome offering peaceful pond and nature views. The bright, open main level features a gas fireplace, newer appliances. Upstairs, you’ll find three bedrooms on one level, including a spacious primary suite with a new private spa-like bath and walk-in closet. Enjoy the outdoors from the large deck overlooking the pond and natural surroundings. Additional highlights include a 2-car garage, in-unit laundry, ample storage. Move-in ready and conveniently located—this one is a must-see!

9820 Cove Drive, Minnetonka

Listing courtesy of Compass.

$250,000

ACTIVE Status ⋅ 2 Beds ⋅ 1 Baths ⋅ 7151313 MLS ⋅ 1,310 SqFt.

Charming 2 story end unit features soaring vaults and light, bright, semi-open design. Updated Kitchen with granite top center island flows into spacious vaulted Living Room featuring cozy gas fireplace. Patio door opens to beautiful private garden retreat perfect for relaxing or entertaining. Spacious loft style Primary bedroom with private rooftop deck. 2nd bedroom includes wall storage cabinet. Walk-through updated bathroom features a skylight! Y Stackable washer & dryer on upper level. You'll appreciate approximately $30,000 of updates over recent years including new furnace, A/C & water heater (2024), new Andersen windows & sliding door (2017), & luxury vinyl flooring on the main level (2017). New carpet (2025). New exterior siding (2021) & new roof (2020). Short walk to Shady Oak Lake Park and Lone Lake Park. Bryant Lake Regional Park located a few miles away. This great area offers shopping, dining, coffee houses & entertainment , and easy freeway access. Move in and enjoy a carefree lifestyle.

5410 Sanibel Drive, Minnetonka

Listing courtesy of Edina Realty, Inc..

Start Your Search

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.