NOT LISTED FOR SALE

470 Shady Ln Ely, MN 55731

Estimated Value: $677,000 - $792,000

2 Beds
1 Bath
1,195 Sq Ft
$605/Sq Ft Est. Value

Last Sold September 05, 2024

Last sale price $682,000 $571 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $4,112/month

3 Days on Market

Highlights

  • Private Waterfront
  • No HOA
  • 2 Car Detached Garage
  • Beach Access
  • Log Cabin
  • Enclosed Patio or Porch

About This Home

As of September 2024

Charming south facing 2 BR 1 BA year round home located on Fall Lake with 375+/- feet of sand beach shoreline. The home is situated close to the waters edge, and includes 12 acres of boreal forest. Major updates have happened in the past 10 years and it's transformed from a seasonal cabin to year round. Improvements are: a new insulated roof, all the interior logs were hand sanded and chinked, numerous new windows, the beautiful lakeside porch is now 4 season and accessed through the french paned doors. The kitchen is new with beautiful tile flooring, cabinets, granite countertops and stainless appliances. Previously accessed from the outside, interior stairs were added to access the partially finished very clean walkout basement; location of the newer propane furnace, mechanicals, laundry and bathroom. Lovely details: include antique light fixtures, freestanding wood stove, wood floors, vaulted living room, open to the kitchen and dining room. At the edge of the BWCAW; 1.5 mile boat ride from the dock to the BW and only 7 miles from Ely. So much history to this charming structure! This authentic 1930's log cabin was moved in the 1960s over the ice from Basswood Lake to Fall Lake; in 1985 it was placed on a new walkout basement foundation, new septic and indoor bath added in 1998, and new cedar siding in 2002. Includes both an open pole barn and enclosed one, two wood sheds, septic, and sandpoint well. Behind this property is the 350 acres U of M Wilderness Research Center. Secluded, peaceful and one of a kind property.

Last Agent to Sell the Property

Trish Bulinski

Bear Island Realty LLC Listed on: 07/19/2024

Last Buyer's Agent

Trish Bulinski

Bear Island Realty LLC Listed on: 07/19/2024

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,623

Year Built

  • Built in 1930

Lot Details

  • 12.11 Acre Lot
  • Lot Dimensions are 1400 x 375
  • Private Waterfront
  • 375 Feet of Waterfront
  • Lake Front
  • Elevated Lot
  • Level Lot
  • Irregular Lot
  • Many Trees

Home Design

  • Log Cabin
  • Concrete Foundation
  • Metal Roof
  • Wood Siding

Interior Spaces

  • 1-Story Property
  • Free Standing Fireplace
  • Living Room
  • Combination Kitchen and Dining Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Basement

  • Basement Fills Entire Space Under The House
  • Finished Basement Bathroom

Parking

  • 2 Car Detached Garage
  • Carport

Outdoor Features

  • Beach Access
  • Enclosed Patio or Porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Wood
  • Heating System Uses Propane
  • Sand Point Well
  • Mound Septic
  • Private Sewer

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 28-6371-17040 28-6371-17050

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,623

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Class: SINGLE FAMILY
  • Directions: From Ely, follow 169 N to Grant McMahan; turn onto. Follow & take R on Winton Rd, L on Cedar Lake Road, stay R onto the Cloquet Line, R on Shady Lane, follow to signs and Fire Number
  • L O1 Office Phone1 Number: 218-365-2800
  • ShorelineCharacteristics: Gravel, Rocky, Sand, Shore-Accessible
  • Property Sub-Type: SF/Detached
  • Tax Year: 2024
  • Lot Description Waterfront: Yes
  • Mfg And Park Info Construction Type: Log Home
  • FinFootageAboveGrade: 1123
  • Below Grade Finished Sq Ft: 72
  • Garage Type: Carport, Detached
  • Heat: Fireplace, Forced Air, Wood, Propane
  • Fireplaces: 1
  • MainFloorBath: No
  • RdBtwnWtrfrntAndHome: No
  • Reso Roof: Metal
  • Bedroom 3: 4 Season Porch
  • TotalBedrooms: 2
  • Year Built: 1930
  • Level 1 Bedroom: Main
  • RoomLevel3: Main
  • RoomLevel4: Main
  • RoomLevel5: Main
  • RoomLevel6: Lower
  • Property Style: Rustic Cabin
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Total Three Quarter Bathrooms: 1
  • Basement Material: Concrete Block
  • Basement Style: Full
  • Bathroom Description: 3/4 Basement
  • Formal Dining: Combine with Kitchen
  • Fireplace: Yes
  • Den Fireplace Type: Free Standing
  • Bedroom Features:Main Floor Bedroom: Yes
  • Bathroom 1: Kitchen
  • Bathroom 2: Living Room
  • Main Residence Features:Family Room4: Bedroom
  • Bedroom 5: Bedroom
  • Stories: 1 Story
  • Room 6: Bathroom
  • Total Bathrooms: 1
  • Total Fin Square Footage: 1195
  • Exercise Room Level2: Main

Exterior Features

  • Waterfront Access: Private
  • Water Frontage In Feet: 375
  • Waterfront Name: Fall
  • Construction Status: Previously Owned
  • Exterior: Wood

Garage/Parking

  • Garage Capacity: 2

Utilities

  • Power Company: Lake Country Power
  • Sewer: Mound, Private
  • Water: Sand Point

Condo/Co-op/Association

  • Association Fee: No

Schools

  • Junior High Dist: Ely #696

Lot Info

  • Estimated Lot Dimensions: 1400 x 375
  • Estimated Number of Acres: 12.11
  • Cultivated Acreage: LSAR
  • Geo Subdivision: MN
  • Lot Description: Accessible Shoreline, Irregular Lot, Tree Coverage - Heavy, Tree Coverage - Medium, High, Level, BWCA Area
  • Parcel Number: 28-6371-17040 28-6371-17050
  • Waterfront Type: Inland Lake

Tax Info

  • Tax Amount: 4623

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 29, 2014
Closed on
Aug 29, 2014
Sold by
Shusta Frank Frank
Bought by
Micek Jennifer Jennifer
Seller's Agent
Lisa Janisch
Janisch Realty Inc
Buyer's Agent
Dan Janisch
Janisch Realty Inc
Sold Price
$375,000
Current Estimated Value
$723,498

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$348,498
Avg. Annual Appreciation
5.94%
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
Micek Jennifer Jennifer $375,000 --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/05/2024 09/05/24 Sold $682,000 +0.4% $571 / Sq Ft
07/22/2024 07/22/24 Pending -- -- --
07/19/2024 07/19/24 For Sale $679,000 +81.1% $568 / Sq Ft
08/29/2014 08/29/14 Sold $375,000 0.0% $267 / Sq Ft View Prior Sale
08/29/2014 08/29/14 Sold $375,000 0.0% $334 / Sq Ft View Prior Sale
07/29/2014 07/29/14 Pending -- -- --
07/29/2014 07/29/14 Pending -- -- --
06/20/2014 06/20/14 For Sale $375,000 -- $334 / 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
2025 $4,396 $598,000 $276,400 $321,600
2024 $2,503 $602,100 $276,400 $325,700
2023 $2,333 $589,000 $259,300 $329,700
2022 $3,912 $512,800 $259,300 $253,500
2021 $3,192 $420,500 $247,900 $172,600
2020 $3,760 $336,900 $245,500 $91,400
2019 $3,796 $371,600 $277,500 $94,100
2018 $3,990 $371,600 $277,500 $94,100
2017 $3,613 $386,200 $292,000 $94,200
2016 $3,521 $357,100 $277,500 $79,600
2015 $3,529 $349,400 $277,500 $71,900
2014 $3,529 $0 $0 $0
2013 $3,570 $0 $0 $0
2012 $3,485 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Lake Superior Area REALTORS®

MLS Number: 6115037

APN: 28-6371-17050