$1,075,178Average Value$429Average Price per Sq Ft13Homes For Sale
Waterfront-living on Lake Minnetonka
Hoist up the sails and set onto Lake Minnetonka from the scenic shores of Carson Bay. Deephaven is a western suburb of Minneapolis in Hennepin County. Known for its lakeside living, distinguished school district and 30-minute drive into the Twin Cities, Deephaven hosts a growing population of around 4,000 residents. Incorporated as a city in 1900, the roots of Deephaven can be traced back to early Minneapolis explorers traveling by riverboat in the mid-1800s. Deephaven is historically the home of Lake Minnetonka’s first grand hotel, The St. Louis Hotel, which was constructed in 1879. The area fell out of favor with tourists around the turn of the century before gaining traction as a year-round residence because of its natural ethereal beauty and 16-mile commute into Minneapolis. Amenities like Deephaven Beach, the Minnetonka Yacht Club and the historic Cottagewood General Store make this southeastern Minnesota city unique. “Some of my favorite days are just driving to work under the canopy of trees to get to Deephaven City Hall when I realize how fortunate I am to be in such an aesthetically pleasing community,” says City Administrator Dana Young. “It’s a wonderful place to work and a picturesque place to live.
Lakeside estates and multi-family townhouses
The real estate market in Deephaven is highly competitive due to its limited inventory for sale, more secluded lots and waterfront properties. “Buyers can expect higher priced homes in Deephaven,” says Patrick Morgan, seasoned Realtor with Morgan Real Estate Group at Coldwell Banker Realty. With an average home value of around $1 Million, homes here are worth $500,000 more than the average property within the United States. The bulk of the housing inventory was constructed during a post-World War II building boom. But construction remains consistent, with about 100 new homes being added each decade, mostly reconstructions on existing lots. “Homes here are generally older and attract buyers with charming architecture styles that residents try to maintain a country-feel within the area,” says Morgan, who has been selling in the Twin Cities for over a decade. Deephaven features a variety of housing styles from one-story minimal traditionals and two-story New Traditionals to multi-family townhouses and larger estates along the shores of Lake Minnetonka. With a median sales price of $820,000, single-family homes range from the low $300,000s for a three-bedroom Cape Cod to upwards of $7 Million for a five-bedroom New Traditional with private lake access. While single-family homes dominate the area, small pockets of multi-family townhouses are available and range from $300,000 to upwards of the low $600,000s with lakeside views.
Cast off and sail from Carson Bay
Deephaven’s primary outdoor amenity is Lake Minnetonka, which comes from the Dakota tribe word meaning “big water.” The city has six beaches: Robinson's Bay, Sandy, Rocky, Nocomo, Linwood and Deephaven – the largest and only beach with active lifeguard coverage during the warmer months. Deephaven Beach has a dock for swimming, canoe racks and a tennis court perfect for a quick match with friends. Sailing is popular in the Deephaven community and it’s home to the Minnetonka Yacht Club, one of the oldest yacht clubs in the country. While the club is membership-only, public boat slips and launches are accessible at Carson Bay and St. Louis Bay, offering 312 boat spaces for rent, monitored and maintained by the City of Deephaven. Thorpe Park acts as the centralized green space for Deephaven, offering year-round recreation opportunities. Visitors can enjoy an on-the-go lunch on the benches along the pond or cheer on the local Little Leaguers on the ball field during the warmer months. In the winter, Thorpe offers an outdoor ice rink and sledding hill for neighbors to enjoy. Cyclists can hop on the Lake Minnetonka Regional Trail, which connects Hopkins and Carver Park Reserve with 15.8 miles of trails to explore. The paths are shared by pedestrians and bikers and maintained by the City of Deephaven throughout the year.
The annual Concert in the Park at Freeman Park
In the summer, neighbors can attend the annual Concert in the Park at Freeman Park in neighboring Shorewood. The event is hosted on select nights beginning in July from 6:30 p.m. to late throughout the summer. The Shoreview Community Center hosts the concert, which serves residents of Deephaven, Tonka Bay, Greenwood, Excelsior and Shorewood. Neighbors can dance to their favorite local artists and enjoy food truck bites. Locals are encouraged to bring blankets and chairs, as seating will not be provided.
Shopping at Westwind Plaza
Residents in Deephaven trade immediate urban amenities for a larger sense of seclusion. “We’re purposely quiet, so you have someplace to retreat after a crazy workday where you don’t have noise or traffic or large groups of people,” says Young. The historic Cottagewood General Store near Deephaven City Hall is the exception. Established in 1895, the store is open from May through October and offers ice cream, baked goods, coffee drinks, gift merchandise, and apparel. Groceries and everyday essentials are available at the intersection of County Road 101 and State Highway 7 at Westwind Plaza, featuring a variety of stores, like Cub Foods, Target and Walgreens Pharmacy. When dining in the area, locals can grab an all-American meal at Ike's Minnetonka, known for its specialty burgers and relaxed dining environment. For Italian cuisine and an extensive wine selection of over 100 bottles, head to Spasso and enjoy their daily happy hour from 4:00 p.m. to 6:00 p.m. Or check out the family-owned Viet Hoa for a selection of boba teas and a mix of Vietnamese and Chinese menu options.
A-rated education at Minnetonka Public Schools
Families with children are served by the Minnetonka Public School District, named the second-best district in Minnesota in 2023 by the educational review site, Niche. “The district is wonderful and well-run and academically among the top in the country,” says Young. Students in Deephaven can attend schools like Deephaven Elementary, Minnetonka East Middle and Minnetonka Senior High School, which have earned ratings of A, A-plus and A-plus from Niche. Students may start their education at Deephaven Elementary School, a top-tier, walkable community school adjacent to Burton Park. The school is a nationally recognized technology leader, piloting over 50 iPads for instructional purposes in 2011 and now including laptops in the classroom. Minnetonka East Middle School offers the Navigator Program, which provides additional challenges and instruction for exceptionally gifted students. Minnetonka Senior High School offers VANTAGE, its advanced professional studies program. This program allows students to apply their course content in real-world settings and is paired with a one-on-one professional mentor. Minnetonka Senior High also boasts 36 AP courses to choose from to earn college credit. Private options like the St. Therese School are also common.
Nearby healthcare and quick commutes on I-494
Residents in Deephaven rely on State Highway 7 for easy access to neighboring areas like Shorewood and Minnetonka. Major highways like U.S. Interstate 494 offer 30-minute drives into downtown Minneapolis. When traveling further outside the community, the Minneapolis–Saint Paul International Airport is 23 miles from Deephaven. The North Memorial Health Clinic is 5 miles from the community for healthcare.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Interested in learning more about homes in this area?
Reach out to
Dave Thorp,
an experienced agent in this neighborhood.
Parks in this Area
Bennett Family Park
Baseball/Softball
Picnic Area
Concessions
Thorpe Park
Gro Tonka Park
Baseball/Softball
Football
Soccer
Groveland Park
Picnic Area
Playground
Multi-Purpose Field
Reich Park
Picnic Area
Tennis
Trails
Transit
Airport
Minneapolis-St Paul International/Wold-Chamberlain
32 min drive
Crime and Safety
1 - Low Crime, 10 - High Crime
Deephaven
US
Homicide
1
4
Sexual Assault
1
4
Assault with Weapon
1
4
Robbery
1
4
Burglary
1
4
Motor Vehicle Theft
1
4
Larceny
1
4
Crime Score
1
4
Source: WhatIsMyCrimeRisk.com
Demographics and Home Trends
On average, homes in Deephaven, MN sell after 48 days on the market compared to the national average of 47 days. The average sale price for homes in Deephaven, MN over the last 12 months is $1,798,697, up 32% from the average home sale price over the previous 12 months.
Welcome to the heart of Cottagewood USA, offering the timeless allure of an iconic beach community. Nestled amidst towering white pines, stunning ironwood tree, lilacs and hydrangeas, this home is a masterpiece by Mike Sharratt and Kyle Hunt. The residence boasts a remodeled crisp white kitchen and a screen porch that opens to the backyard with a cozy bonfire pit. This home offers a tranquil,
Spectacular Deephaven Park neighborhood. Short walk to Deephaven Beach and park. Gorgeous 2007 renovation means this home offers charm and convenience for daily living. The timeless appeal of the front porch welcomes family and friends. Sun-filled open floor plan- Gorgeous gourmet style kitchen- gleaming hardwood floors- main bedroom with ensuite- main floor office. Upper level provides an
One of a kind updated home located in the heart of Deephaven w/ charm throughout! Live the cabin life but only a couple minutes from the cities! Perfectly situated between Thorpe Park & Deephaven Beach w/ an easy walk to either! The home sits on one of the larger lots in Deephaven with thick woods behind it giving it maximum privacy from neighbors and the street. Walk into an expansive open
Charming Deephaven cottage available for lease, featuring abundant natural light, beautiful hardwood floors, built in bookshelves, and a recently updated kitchen and bathroom. The home offers generous basement storage with laundry, a peaceful yard, and a prime Minnetonka location close to Lake Minnetonka -- Deephaven Beach, Highway 494, dining, shopping, and other local amenities. A minimum
Interested in learning more about homes in this area?
Reach out to
Dave Thorp,
an experienced agent in this neighborhood.
Average Home Value
Source: Public Records
Property Mix - Square Feet
This Neighborhood Has More Owners
Demographics
Total Population
3,800
Median Age
47
Population Density
3 ppl/acre
Population under 18
25.6%
On par with the national average
23.8%
Population over 65
23%
On par with the national average
19.1%
Finances
Median Household Income
$171,566
Significantly above the national average
$71,702
Average Household Income
$192,622
Education and Workforce
High School Graduates
99.7%
College Graduates
79.7%
Significantly above the national average
34.1%
Advanced Degrees
31.3%
Above the national average
13.3%
% Population in Labor Force
69.1%
Weather
Annual Precipitation
33''
Average Winter Low Temperature
6°F
Average Summer High Temperature
81°F
Annual Snowfall
80''
Area Factors
Somewhat Bikeable
Bike Score®
40/ 100
Car-Dependent
Walk Score®
31/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
