NOT LISTED FOR SALE

25 E S 2nd Ave Ely, MN 55731

4 Beds
2 Baths
4,164 Sq Ft
1910 Built

Last Sold January 31, 2025

Last sale price $278,000 $67 Per Sq Ft

30 Days on Market

About This Home

As of January 2025

"Coolest Small Towns" and a gateway to the BWCA (Boundary Waters Canoe Area) you have an incredible investment opportunity! Perfect for short-term or long-term rentals the existing duplex with updated units is already generating steady income. Each unit has 2 BR/1BA and offers beautifully updated interiors, an attached garage, and laundry facilities. The roof was installed in 2019. Each unit is 748 sq. ft. Duplex also has been insulated and new LP smart siding.

Last Agent to Sell the Property

Andrea Zupancich

z' Up North Realty License #40149923 Listed on: 11/18/2024

Last Buyer's Agent

Delaney Maki

My Place Realty Inc License #4064745

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,538

Year Built

  • Built in 1910

Lot Details

  • Lot Dimensions are 75 x 50

Home Design

  • Duplex
  • Wood Frame Construction
  • Shingle Roof
  • Asphalt Roof
  • Stucco

Interior Spaces

  • 4,164 Sq Ft Home
  • Basement Fills Entire Space Under The House

Utilities

  • Window Unit Cooling System
  • Hot Water Heating System

Community Details

Overview

  • 2 Units

Building Details

  • Insurance Expense $2,500
  • Utility Expense $983
  • Gross Income $18,000
  • Net Operating Income $13,452

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,538

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Class: Multi Family
  • Construction: Wood Frame
  • Lvt Date: 11/18/2024
  • Type: Duplex
  • Year Built: 1910
  • Lot Size Length: 75
  • Lot Size Width: 50
  • Utilities Expenses: 983
  • Insurance Expenses: 2500
  • Net Income: 13452
  • Projected Income: 18000
  • Repairs Maint Expenses: 1500
  • Total Expense: 7248
  • Total Income: 20700
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Finished Sq Ft: 4164
  • Basement: Full

Exterior Features

  • Exterior: Stucco
  • Roof: Asphalt, Shingle

Garage/Parking

  • Parking: On Street Parking

Utilities

  • Cooling: Window Unit
  • Utilities: City Sewer, City Water
  • Heating: Forced Air, Hot Water

Fee Information

  • Rent Income: 20700

Lot Info

  • Zoning: Resid

Rental Info

  • Actual Income: 20700
  • Other Expenses: 2265

Multi Family

  • Number Of Units: 2

Tax Info

  • Taxes: 4538
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/31/2025 01/31/25 Sold $278,000 -0.7% $67 / Sq Ft
12/18/2024 12/18/24 Pending -- -- --
11/18/2024 11/18/24 For Sale $280,000 -- $67 / Sq Ft
Source: Range Association of REALTORS®

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
2024 $1,492 $67,100 $6,500 $60,600
2023 $1,492 $227,300 $9,100 $218,200
2022 $4,778 $215,600 $8,700 $206,900
2021 $4,394 $180,100 $7,900 $172,200
2020 $3,974 $160,500 $7,900 $152,600
2019 $3,840 $160,500 $7,900 $152,600
2018 $3,952 $157,900 $7,900 $150,000
2017 $14,730 $162,800 $8,400 $154,400
2016 $5,764 $157,700 $7,800 $149,900
2014 $4,184 $163,000 $8,600 $154,400
Source: Public Records

Agents Affiliated with this Home

  • Andrea Zupancich

    Seller's Agent in 2025

    Andrea Zupancich

    z' Up North Realty

    (218) 749-0159

    65 in this area

    440 Total Sales

    Andrea Zupancich
    Section Image
  • Delaney Maki

    Buyer's Agent in 2025

    Delaney Maki

    My Place Realty Inc

    (218) 295-2866

    1 in this area

    172 Total Sales

    Delaney Maki
    Section Image
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Map

Source: Range Association of REALTORS®

MLS Number: 147736

Range Association of REALTORS®
Minnesota St Louis County Ely 55731

25 E S 2nd Ave, Ely, MN

Not Listed for Sale

MultiFamily

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