NOT LISTED FOR SALE

25 E S 2nd Ave Ely, MN 55731

Ely Area
4 Beds
2 Baths
4,164 Sq Ft
1910 Built

Sale Details

Date 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

Thrive Realty LLC License #4064745

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

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,538

Year Built

  • Built in 1910

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

Lot Details

  • Lot Dimensions are 75 x 50

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

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

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 18, 2024
Closed on
Jan 30, 2025
Sold by
Bought by
Seller's Agent
Andrea Zupancich
z' Up North Realty
Buyer's Agent
Delaney Maki
Thrive Realty LLC
List Price
$280,000
Sold Price
$278,000
Premium/Discount to List
-$2,000
-0.71%
Views
34

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$222,400
Outstanding Balance
$219,096
Interest Rate
6.91%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 18, 2024
Closed on
Dec 21, 2024
Sold by
Bought by
Seller's Agent
Andrea Zupancich
z' Up North Realty
Buyer's Agent
Delaney Maki
Thrive Realty LLC
List Price
$280,000
Sold Price
$278,000
Premium/Discount to List
-$2,000
-0.71%
Views
34

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$222,400
Outstanding Balance
$219,096
Interest Rate
6.91%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 12, 2021
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$92,000
Interest Rate
3.05%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 1, 2009
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Ely, MN

See All Agents

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$55,000 Northeast Title
$500 None Listed On Document
$115,000 Northwest Title
$197,000 Ne Title Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $222,400
Closed $44,000
Previous Owner $92,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $1,546 $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

  • Section Image
  • Section Image
See All Agents

Map

Source: Range Association of REALTORS®

MLS Number: 147736

Range Association of REALTORS®
Your Personal Tour Guide

Ask me questions while you tour the home.