NOT LISTED FOR SALE

2528 Verbick Rd Ely, MN 55731

Estimated Value: $513,363 - $573,000

2 Beds
1.5 Baths
1,680 Sq Ft
$318/Sq Ft Est. Value

Last Sold June 17, 2024

Last sale price $500,000 $298 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $3,044/month

5 Days on Market

Highlights

  • Private Waterfront
  • Docks
  • Spa
  • Memorial High School Rated 9+
  • Beach Access
  • Sauna

About This Home

As of June 2024

This year-round home/cabin boost phenomenal lake views of Bear Island Lake. Many updates have taken place with a beautiful updated kitchen, center island, new flooring and appliances. Expansive deck off the living area to enjoy the summer breeze. Bear Island Lake offers such a beautiful setting with over 22 islands, 22+/- acres and much undeveloped property to enjoy all your outdoor recreational activities. Boating, kayak, canoe, swimming, fishing to name a few along with winter snowshoeing, skiing, ice fishing and more. Updates have also been done with the bathrooms and comfortable family area in the walk out lower level that brings you out to the water’s edge. Single stall garage with added work shop and plenty of storage. The sauna is waiting for you and close to the dock for a plunge into the lake.

Last Agent to Sell the Property

Lori Schulze

Keller Williams Classic Realty NW - Ely Listed on: 05/07/2024

Keller Williams Classic Realty NW - Ely

Last Buyer's Agent

Nonmember NONMEMBER

Nonmember Office

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,869

Year Built

  • Built in 1979

Lot Details

  • 1 Acre Lot
  • Lot Dimensions are 375x100
  • Private Waterfront
  • 100 Feet of Waterfront
  • Lake Front
  • Property fronts a county road
  • Street terminates at a dead end
  • Landscaped with Trees

Home Design

  • Ranch Style House
  • Poured Concrete
  • Wood Frame Construction
  • Asphalt Shingled Roof
  • Vinyl Siding

Interior Spaces

  • Ceiling Fan
  • Great Room
  • Living Room
  • Combination Kitchen and Dining Room
  • Bonus Room
  • Sauna
  • Center Hall
  • Lake Views

Kitchen

  • Eat-In Kitchen
  • Range
  • Dishwasher
  • Kitchen Island

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Bathroom on Main Level

Laundry

  • Laundry Room
  • Dryer
  • Washer

Finished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Recreation or Family Area in Basement
  • Finished Basement Bathroom

Parking

  • 1 Car Detached Garage
  • Gravel Driveway
  • Off-Street Parking

Outdoor Features

  • Spa
  • Beach Access
  • Docks
  • Balcony
  • Storage Shed

Utilities

  • Baseboard Heating
  • Hot Water Heating System
  • Heating System Uses Propane
  • Drilled Well
  • Electric Water Heater
  • Private Sewer

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 625-025-00130

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,869

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Class: SINGLE FAMILY
  • Directions: From Ely travel Hwy 21 south to Bear Island River Road, right turn and follow to Verbick Road, take left and follow to property address on your right.
  • L O1 Office Phone1 Number: 763-463-7500
  • Road Maintenance: Public
  • ShorelineCharacteristics: Gravel, Sand, Shore-Accessible
  • Property Sub-Type: SF/Detached
  • Tax Year: 2024
  • View Type:Pond View: Inland Lake
  • Lot Description Waterfront: Yes
  • Reso Association Amenities: Ceiling Fans, Eat-In Kitchen, Kitchen Center Island, Center Hall, Patio Door, Dryer Hook-Ups, Washer Hook-Ups
  • Amenities Exterior: Balcony, Dock
  • Half Bathrooms: 1
  • Mfg And Park Info Construction Type: Frame/Wood
  • FinFootageAboveGrade: 840
  • Below Grade Finished Sq Ft: 840
  • Garage Type: Detached
  • Heat: Baseboard, Hot Water, Propane
  • MainFloorBath: Yes
  • RdBtwnWtrfrntAndHome: No
  • Reso Roof: Asphalt Shingles
  • Bedroom 3: Dining Room
  • TotalBedrooms: 2
  • Year Built: 1979
  • Level 1 Bedroom: Main
  • RoomLevel3: Main
  • RoomLevel4: Main
  • RoomLevel5: Main
  • RoomLevel6: Lower
  • RoomLevel7: Lower
  • RoomLevel8: Lower
  • Property Style: Ranch/Rambler
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Total Three Quarter Bathrooms: 1
  • Appliances: Dryer, Dishwasher, Refrigerator, Range/Stove, Washer
  • Basement Features: Finished, Walkout, Bath, Family/Rec Room, Washer Hook-Ups, Dryer Hook-Ups
  • Basement Material: Poured Concrete
  • Basement Style: Full
  • Bathroom Description: 3/4 Basement, 1/2 Main Floor
  • Formal Dining: Combine with Kitchen
  • Extra Rooms: Spa/Sauna, Bonus Room
  • Fireplace: No
  • Bedroom Features:Main Floor Bedroom: Yes
  • Bathroom 1: Living Room
  • Bathroom 2: Kitchen
  • Main Residence Features:Family Room4: Bedroom
  • Bedroom 5: Bedroom
  • Stories: 1 Story
  • Room 6: Bonus Room
  • Room 7: Great Room
  • Room 8: Laundry Room
  • Total Bathrooms: 2
  • Total Fin Square Footage: 1680
  • Exercise Room Level2: Main

Exterior Features

  • Out Buildings: Sauna, Storage Shed
  • Road Frontage: County, Dead End/No Outlet
  • Waterfront Access: Private
  • Water Frontage In Feet: 100
  • Waterfront Name: Bear Island
  • Construction Status: Previously Owned
  • Exterior: Vinyl

Garage/Parking

  • Parking Driveway: Driveway - Gravel, Off Street
  • Garage Features: Electrical Service
  • Garage Capacity: 1

Utilities

  • Power Company: Lake Country Power
  • Sewer: Private
  • Water: Drilled

Condo/Co-op/Association

  • Association Fee: No

Schools

  • Junior High Dist: Ely #696

Lot Info

  • Estimated Lot Dimensions: 375x100
  • Estimated Number of Acres: 1
  • Cultivated Acreage: LSAR
  • Geo Subdivision: MN
  • Lot Description: Accessible Shoreline, Tree Coverage - Medium
  • Parcel Number: 625-025-00130
  • Waterfront Type: Inland Lake

Tax Info

  • Tax Amount: 2869

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 7, 2024
Closed on
Jun 17, 2024
Sold by
Patterson Ward and Patterson Karen
Bought by
Henehan Kathleen Ann
Seller's Agent
Lori Schulze
Keller Williams Classic Realty NW - Ely
Buyer's Agent
Nonmember NONMEMBER
Nonmember Office
List Price
$525,000
Sold Price
$500,000
Premium/Discount to List
-$25,000
-4.76%
Views
3
Current Estimated Value
$534,091

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$34,091
Avg. Annual Appreciation
4.29%
Original Mortgage
$400,000
Outstanding Balance
$394,391
Interest Rate
6.88%
Mortgage Type
New Conventional
Estimated Equity
$139,700

Purchase Details

Listed on
Jun 30, 2016
Closed on
Nov 16, 2017
Sold by
Wilcox James R and Wilcox Mary R
Bought by
Patterson Ward and Patterson Karen
Seller's Agent
Bruce Chernak
Bear Island Realty LLC
Buyer's Agent
Lori Schulze
Keller Williams Classic Realty NW - Ely
List Price
$205,000
Sold Price
$205,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
14.51%
Original Mortgage
$164,000
Interest Rate
3.88%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Purchase History

Date Buyer Sale Price Title Company
Henehan Kathleen Ann $500,000 Northeast Title
Patterson Ward $205,000 Northeast Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Henehan Kathleen Ann $400,000
Previous Owner Patterson Ward $164,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/17/2024 06/17/24 Sold $500,000 -4.8% $298 / Sq Ft
05/15/2024 05/15/24 Pending -- -- --
05/10/2024 05/10/24 For Sale $525,000 +156.1% $313 / Sq Ft
11/21/2017 11/21/17 Sold $205,000 0.0% $122 / Sq Ft View Prior Sale
10/23/2017 10/23/17 Pending -- -- --
06/30/2016 06/30/16 For Sale $205,000 -- $122 / Sq Ft
Source: Lake Superior Area REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $3,010 $343,200 $155,100 $188,100
2023 $3,010 $275,800 $125,500 $150,300
2022 $2,954 $244,600 $114,400 $130,200
2021 $1,938 $228,400 $108,800 $119,600
2020 $1,802 $203,500 $99,600 $103,900
2019 $1,868 $203,500 $99,600 $103,900
2018 $1,896 $216,300 $109,700 $106,600
2017 $2,788 $216,300 $109,700 $106,600
2016 $2,756 $222,600 $106,400 $116,200
2015 $2,702 $222,600 $106,400 $116,200
2014 $2,702 $222,600 $106,400 $116,200
Source: Public Records

Agents Affiliated with this Home

  • Lori Schulze

    Seller's Agent in 2024

    Lori Schulze

    Keller Williams Classic Realty NW - Ely

    (218) 343-1787

    125 Total Sales

    Lori Schulze
    Section Image

  • N

    Buyer's Agent in 2024

    Nonmember NONMEMBER

    Nonmember Office

  • B

    Seller's Agent in 2017

    Bruce Chernak

    Bear Island Realty LLC

See All Agents

Map

Source: Lake Superior Area REALTORS®

MLS Number: 6113543

APN: 625002500130

Minnesota St Louis County Ely 55706

2528 Verbick Rd, Ely, MN

Not Listed for Sale

Detached

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