Phelps Bay is located west of Spring Park Bay on Upper Lake Minnetonka in the cities of Mound, Minnetrista, and Shorewood. Homes for sale on the bay are in the Mound Westonka School District. The bay was named after Carrington Phelps, who owned 400 acres of land in the area. A notable residential area on the bay is Enchanted Island in the city of Minnetrista. The interior of the island is a beautiful wetland with large ponds and a channel adjacent to the main road. The island is a popular residential community and is home to some of the most beautiful houses on the bay.
The maximum water depth in Phelps Bay is 30 feet below the surface and has a B rating water quality by the Minnehaha Creek Watershed District. The water quality is generally good, but algae may limit swimming towards the end of summer.
Phelps Bay has one boat launch, owned by the city of Mound, the Phelps Bay Boat Launch is just 5 minutes from downtown Mound. The launch is located off of Eastshore Drive, the launch does not have an on-site parking lot, but offers on-street parking.
Phelps Bay is home to three islands, Goose, Shady, and Spray. Goose Island is a great spot to meet up with friends, it features a public dock and beautiful sandy beach. The neighboring islands of Spray and Shady Islands are largely residential, and it is common to see boats anchored off their coasts to shield against the winds and waves of Lake Minnetonka. The three islands provide an excellent getaway for an evening to watch the sun as it sets westward over Phelps Bay. In the winter, Phelps Bay is popular amongst ice fishers, the bay is packed with ice houses the minute the lake freezes over until the first Monday of March. Common fish species to find on the bay include Sunfish, Perch, and Crappies.