Two popular Google searches that bring people to this site are ‘Minnesota million dollar homes” and “multi-million dollar Lake Minnetonka homes in Orono.” This no doubt is due to the widely publicized $53M luxury home in Bracketts Point, a listing that attracted the attention of countless “tire kickers.” While this famous Minnesota lake home is no longer available on the MLS, Lake Minnetonka homes in Orono are still synonymous with with terms like “opulence”, “extravagance,” and “high living,” so you could expect to find plenty of multimillion dollar Minnetonka lakeshore estates here. Indeed there are a few of them to be found here. Drive your boat back and forth along Orono past some of these gorgeous Lake Minnetonka homes, and it will make you wonder what the poor people are doing right now.
Here are a few Orono MN lakeshore properties recently listed on the MLS:
Browse all Orono MN Lakeshore Homes for Sale
Update or Tear Down Lake Minnetonka Homes in Orono, MN
However, there are Orono MN Lake Minnetonka homes that are surprisingly affordable. Of the 61 lake properties that are currently available, 21 of them are priced under $1M. In fact, at the time of this post (10/19/10) there is an estate sale available for under 300K on Casco Point in Carmen Bay. This one needs some updating, but so what? At this price you could hardly go wrong, especially when you consider neighboring properties valued in the millions. Frequently you will find neighborhoods like this around Lake Minnetonka, where properties that are nearly tar-paper shacks sit next to huge mansions. Someone who is not familiar with these neighborhoods might call them “inconsistent,” when in fact it would be more appropriate to call them neighborhoods in “transition.” Cheaper MN lake homes are steadily being replaced by more expensive houses in many areas across the state. Many of the cheaper homes are being purchased solely for the value of the lakeshore, for the purpose of tearing them down and replacing them with more expensive homes. Buy cheaper Lake Minnetonka homes in Orono and build a new houses on them for instant equity. The right teardown in the right neighborhood at the right price means a golden opportunity for a savvy real estate investor.
Lake Minnetonka Homes Offer Incredible Value
Considering that the average asking price for Lake Minnetonka homes in Orono is about $2.1M, you could hardly go wrong purchasing anything on the lake under $1M!