NOT LISTED FOR SALE

425 Barrell Rd Ely, MN 55731

Estimated Value: $118,000 - $204,000

3.5 Acres
$46,000 Price per Acre
152,460 Sq Ft Lot

Last Sold July 30, 2024

Last sale price $182,700

Est. 12% decrease in value since last sale

Current estimated payment $1,035/month

32 Days on Market

Highlights

  • Private Waterfront
  • Elevated Lot
  • Level Lot
  • Lake View
  • Many Trees

About This Lot

As of July 2024

First time on the market. This Fall Lake lot has +-3.5 acres with a large building site that sits off the water. From there it's just a short walk towards the level +-207' of shoreline. Fall Lake is a popular entry point into Basswood Lake and the BWCA. At over 6 miles long and 2,322 acres, Fall Lake offers countless fishing and recreational opportunities. This heavily wooded parcel is within walking distance of the Kawishiwi Falls Hiking Trails. Surveyed, power and approved for septic.

Last Agent to Sell the Property

Chris Eilrich

Wildwoods Land Company Listed on: 05/13/2024

Co-Listed By

Don Stocks

Wildwoods Land Company

Last Buyer's Agent

Paul Solberg

Ely Realty

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $1,208

Lot Details

  • 3.5 Acre Lot
  • Lot Dimensions are 200 x 700
  • Private Waterfront
  • 207 Feet of Waterfront
  • Lake Front
  • Property fronts a private road
  • Elevated Lot
  • Level Lot
  • Many Trees

HOA Fees

  • $79 Monthly HOA Fees

Property Views

  • Lake Views

Property Details

Property Type

Land

Est. Annual Taxes

$1,208

Lot Details

0

HOA Fees

$79 per month

Listing Details

  • Class: LOT/LAND
  • Directions: From Ely....head out to the Fernberg Road....third driveway on your left after crossing Garden Lake Bridge. Barrell Road. Signs on property.
  • L O1 Office Phone1 Number: 218-365-3665
  • Renewal Options: Sell Entirely
  • RdBtwnWtrfrnt: No
  • Road Maintenance: Association
  • ShorelineCharacteristics: Rocky
  • Property Sub-Type: Residential
  • Tax Year: 2024
  • Twp Number: 63N
  • View Type:Pond View: Inland Lake
  • Lot Description Waterfront: Yes
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • Road Frontage: Private
  • Waterfront Access: Private
  • Water Frontage In Feet: 207
  • Waterfront Name: Fall

Utilities

  • Available Utilities: Electric
  • Power Company: Lake Country Power

Condo/Co-op/Association

  • Association Fee: Yes
  • Association Fee Frequency: Yearly

Association/Amenities

  • FeesAssociationFeeAmount: 942.67

Schools

  • Junior High Dist: Lake Superior #381

Lot Info

  • Estimated Lot Dimensions: 200 x 700
  • Estimated Number of Acres: 3.5
  • Cultivated Acreage: LSAR
  • Builder Restrictions: None
  • Development Status: Raw Land
  • Geo Match Code: 3
  • Geo Subdivision: MN
  • Improvements: Survey Stakes
  • Land Improvements: No
  • Lot Description: Low Land, Tree Coverage - Heavy, High, BWCA, Level
  • Waterfront Type: Inland Lake

Rental Info

  • Lease Terms: Cash, Conventional

Tax Info

  • Tax Amount: 1208

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 13, 2024
Closed on
Jul 24, 2024
Sold by
Allete Inc
Bought by
Hendershot Jacob and Hendershot Emily
Seller's Agent
Chris Eilrich
Wildwoods Land Company
Buyer's Agent
Paul Solberg
Ely Realty
List Price
$175,000
Sold Price
$182,700
Premium/Discount to List
$7,700
4.4%
Views
16
Current Estimated Value
$161,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$21,700
Avg. Annual Appreciation
-8.64%
Original Mortgage
$149,700
Outstanding Balance
$147,898
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$13,102
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hendershot Jacob $182,700 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hendershot Jacob $149,700
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/30/2024 07/30/24 Sold $182,700 +4.4% --
06/14/2024 06/14/24 Pending -- -- --
05/13/2024 05/13/24 For Sale $175,000 -- --
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
2025 $1,314 $195,900 $195,900 $0
2024 $748 $195,900 $195,900 $0
2023 $826 $182,700 $182,700 $0
2022 $1,574 $182,700 $182,700 $0
2021 $1,598 $173,900 $173,900 $0
2020 $1,959 $172,700 $172,700 $0
2019 $1,967 $196,700 $196,700 $0
2018 $2,101 $196,700 $196,700 $0
2017 $1,947 $207,600 $207,600 $0
2016 $1,940 $196,700 $196,700 $0
2015 $2,237 $196,700 $196,700 $0
2014 $2,237 $0 $0 $0
2013 $2,132 $0 $0 $0
2012 $1,923 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2024

    Chris Eilrich

    Wildwoods Land Company

    (218) 343-6169

    149 Total Sales

    Chris Eilrich
    Section Image
  • Don Stocks

    Seller Co-Listing Agent in 2024

    Don Stocks

    Wildwoods Land Company

    (218) 340-1353

    106 Total Sales

    Don Stocks
    Section Image

  • P

    Buyer's Agent in 2024

    Paul Solberg

    Ely Realty

    Section Image
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Map

Source: Lake Superior Area REALTORS®

MLS Number: 6113638

APN: 28-6368-01050

Minnesota Lake County Ely 55731

425 Barrell Rd, Ely, MN

Not Listed for Sale

Lots

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