Estimated Value: $305,000 - $640,000
2
Beds
1
Bath
1,056
Sq Ft
$395/Sq Ft
Est. Value
Highlights
- Private Waterfront
- Panoramic View
- Loft
- Docks
- Main Floor Primary Bedroom
- Beamed Ceilings
About This Home
As of May 20192+ bedroom, 1 bath south facing classic cabin, with a magnificent view of Shagawa Lake that you can enjoy on the approx. 200 ft. of level shoreline. Great open floor plan connecting the kitchen, living room, and dining room. The ceiling has beautiful log beams and the room is highlighted with an impressive stone fireplace with new wood stove insert. Also, on the main level are two cozy bedrooms. There is a loft that would make for a great storage area or an additional bedroom. The parcel is approx. 4 acres, with most of the acreage being north of paved road that goes by the cabin. South of the road, the cabin sits very close to the lake. Newer septic system, and a garage pad recently installed north of the road. Shagawa Lake is known for its great fishing for walleye, bass, northern pike, panfish, and musky. Ely is just 6 minutes away!
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $1,304
Year Built
- Built in 1950
Lot Details
- 4.1 Acre Lot
- Lot Dimensions are 900 x 200
- Private Waterfront
- 200 Feet of Waterfront
- Lake Front
- Property fronts a county road
- Elevated Lot
- Landscaped with Trees
Property Views
- Lake
- Panoramic
Home Design
- Cabin
- Pillar, Post or Pier Foundation
- Wood Frame Construction
- Log Siding
Interior Spaces
- 1,056 Sq Ft Home
- 2-Story Property
- Woodwork
- Beamed Ceilings
- Ceiling Fan
- Wood Burning Fireplace
- Wood Frame Window
- Living Room
- Open Floorplan
- Loft
- Storage Room
Kitchen
- Range
- Microwave
Bedrooms and Bathrooms
- 2 Bedrooms
- Primary Bedroom on Main
- Bathroom on Main Level
- 1 Bathroom
Parking
- No Garage
- Off-Street Parking
Outdoor Features
- Docks
Utilities
- No Cooling
- Forced Air Heating System
- Baseboard Heating
- Heating System Uses Wood
- Private Water Source
- Electric Water Heater
- Mound Septic
- Private Sewer
- High Speed Internet
Listing and Financial Details
- Assessor Parcel Number 465-0280-00070
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 1, 2018
Closed on
May 21, 2019
Sold by
Errede Mark K and Errede Peggy A
Bought by
Melhorn Eric John
Seller's Agent
Jeff Hway
Bear Island Realty LLC
Buyer's Agent
Jim Burke
Keller Williams Classic Realty NW
List Price
$187,000
Sold Price
$187,000
Total Days on Market
308
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$229,951
Avg. Annual Appreciation
14.45%
Original Mortgage
$168,300
Interest Rate
4.1%
Mortgage Type
New Conventional
Purchase Details
Closed on
Feb 17, 2011
Sold by
Scafidi Raymond
Bought by
Errede Mark K and Errede Peggy A
Similar Homes in Ely, MN
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Melhorn Eric John | $187,000 | Northeast Title Company | |
| Errede Mark K | $148,500 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Melhorn Eric John | $125,000 | |
| Closed | Melhorn Eric John | $168,300 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/28/2019 05/28/19 | Sold | $187,000 | 0.0% | $177 / Sq Ft |
| 05/05/2019 05/05/19 | Pending | -- | -- | -- |
| 07/01/2018 07/01/18 | For Sale | $187,000 | -- | $177 / Sq Ft |
Source: Lake Superior Area REALTORS®
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2023 | $2,862 | $232,000 | $145,000 | $87,000 |
| 2022 | $2,382 | $203,600 | $132,300 | $71,300 |
| 2021 | $1,996 | $166,700 | $106,800 | $59,900 |
| 2020 | $1,876 | $166,700 | $106,800 | $59,900 |
| 2019 | $1,382 | $166,700 | $106,800 | $59,900 |
| 2018 | $1,304 | $124,700 | $94,700 | $30,000 |
| 2017 | $1,232 | $118,400 | $90,200 | $28,200 |
| 2016 | $1,404 | $111,300 | $85,800 | $25,500 |
| 2015 | $1,423 | $130,300 | $100,300 | $30,000 |
| 2014 | $1,423 | $130,300 | $100,300 | $30,000 |
Source: Public Records
Agents Affiliated with this Home
-
Jeff Hway
Seller's Agent in 2019
Jeff Hway
Bear Island Realty LLC
(218) 349-0906
171 Total Sales
-
Jim Burke
Buyer's Agent in 2019
Jim Burke
Keller Williams Classic Realty NW
(218) 235-8619
129 Total Sales
Map
Source: Lake Superior Area REALTORS®
MLS Number: 6076708
APN: 465028000070
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