NOT LISTED FOR SALE

2564 Bear Island River Rd Ely, MN 55731

Estimated Value: $262,000 - $368,000

2 Beds
1 Bath
768 Sq Ft
$399/Sq Ft Est. Value

Last Sold June 26, 2020

Last sale price $140,000 $182 Per Sq Ft

Est. 119% increase in value since last sale

Current estimated payment $1,690/month

16 Days on Market

Highlights

  • Great Room
  • 2 Car Detached Garage
  • Wood Siding
  • Memorial High School Rated 9+
  • Baseboard Heating
  • Gas Fireplace

About This Home

As of June 2020

Better than a tiny home! If you have dreamed of a place in the Northwoods that allows for future expansion this is it! Check out this cute Cape Cod style cabin/garage on a beautiful private 4.5 acres just a 4 minute walk from the public boat landing on beautiful Bear Island Lake! Upstairs is insulated with cozy tongue and groove pine on all walls and ceiling. There are two bedrooms plus kitchen and living area complete with full-size electric range/oven and full-size refrigerator. Many windows to enjoy the beautiful secluded wooded views. Heat is provided by gas fireplace and electric baseboards upstairs and there is a LP gas unit heater downstairs in the 24’ X 32’ Garage space, which is also fully insulated! New 4-bdr septic system on property. Roomy insulated cedar outhouse complete with 20 amp electric and it even has a front porch! Underground Electric Service is already set up for future cabin with separate meter for off-peak. Just a 11 mile drive from downtown Ely this wonderful property is located in a quiet area off of “dead end” Bear Island River Road with many acres of Federal and State public land within close walking distance.

Last Agent to Sell the Property

Kate Davies

Bear Island Realty LLC Listed on: 05/21/2020

Last Buyer's Agent

Lori Schulze

Keller Williams Classic Realty NW - Ely

Keller Williams Classic Realty NW - Ely

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $786

Year Built

  • Built in 2006

Lot Details

  • 4.5 Acre Lot
  • Lot Dimensions are 450 x 500

Parking

  • 2 Car Detached Garage

Home Design

  • Wood Frame Construction
  • Wood Siding

Interior Spaces

  • 2 Bedrooms
  • 768 Sq Ft Home
  • 2-Story Property
  • Gas Fireplace
  • Great Room

Outdoor Features

  • Outhouse

Utilities

  • Heating System Uses Propane
  • Baseboard Heating
  • Water Not Available
  • Private Sewer

Listing and Financial Details

  • Assessor Parcel Number 625-0010-01385

Home Details

Home Type

Single Family

Est. Annual Taxes

$786

Year Built

Built in 2006

Lot Details

0

Listing Details

  • Class: SINGLE FAMILY
  • Directions: From Ely, take Hwy. 21 S to Bear Island River Rd. Turn right and follow to property address on left.
  • L O1 Office Phone1 Number: 218-365-2800
  • Property Sub-Type: Seasonal
  • Tax Year: 2020
  • Lot Description Waterfront: No
  • Mfg And Park Info Construction Type: Frame/Wood
  • FinFootageAboveGrade: 768
  • Garage Type: Detached
  • Heat: Baseboard, Fireplace, Propane, Electric
  • Fireplaces: 1
  • MainFloorBath: No
  • Bedroom 3: Great Room
  • TotalBedrooms: 2
  • Year Built: 2006
  • Level 1 Bedroom: Second Floor
  • RoomLevel3: Second Floor
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Basement Material: N/A
  • Basement Style: None
  • Bathroom Description: None
  • Fireplace: Yes
  • Den Fireplace Type: Gas
  • Bedroom Features:Main Floor Bedroom: No
  • Bathroom 1: Master Bedroom
  • Bathroom 2: Bedroom
  • Stories: 2 Story
  • Total Fin Square Footage: 768
  • Exercise Room Level2: Second Floor

Exterior Features

  • Construction Status: Previously Owned
  • Exterior: Wood

Garage/Parking

  • Garage Capacity: 2

Utilities

  • Power Company: Lake Country Power
  • Sewer: Private, Outhouse
  • Water: None

Schools

  • Junior High Dist: Ely #696

Lot Info

  • Estimated Lot Dimensions: 450 x 500
  • Estimated Number of Acres: 4.5
  • Cultivated Acreage: LSAR
  • Geo Subdivision: MN
  • Parcel Number: 625-0010-01385

Tax Info

  • Tax Amount: 786

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 21, 2020
Closed on
Jun 22, 2020
Sold by
Carlson Lane A and Carlson Macia J
Bought by
Clark Robert N and Maldonado Oriana Hernandez
Seller's Agent
Kate Davies
Bear Island Realty LLC
Buyer's Agent
Lori Schulze
Keller Williams Classic Realty NW - Ely
List Price
$140,000
Sold Price
$140,000
Current Estimated Value
$306,502

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$166,502
Avg. Annual Appreciation
15.22%
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
Clark Robert N $140,000 Northeast Title Company
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/26/2020 06/26/20 Sold $140,000 0.0% $182 / Sq Ft
06/06/2020 06/06/20 Pending -- -- --
05/21/2020 05/21/20 For Sale $140,000 -- $182 / 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 $1,050 $195,000 $48,500 $146,500
2023 $1,050 $170,800 $43,800 $127,000
2022 $1,012 $149,000 $40,600 $108,400
2021 $820 $145,700 $30,900 $114,800
2020 $770 $60,200 $30,900 $29,300
2019 $786 $60,200 $30,900 $29,300
2018 $782 $63,400 $34,100 $29,300
2017 $792 $63,400 $34,100 $29,300
2016 $754 $64,100 $42,400 $21,700
2015 $734 $64,100 $42,400 $21,700
2014 $734 $64,100 $42,400 $21,700
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Lake Superior Area REALTORS®

MLS Number: 6090213

APN: 625001001385