NOT LISTED FOR SALE

517 Minnesota St Eagle River, WI 54521

Estimated Value: $179,000 - $262,000

4 Beds
2 Baths
1,728 Sq Ft
$123/Sq Ft Est. Value

Last Sold October 02, 2023

Last sale price $159,000 $92 Per Sq Ft

Est. 34% increase in value since last sale

Current estimated payment $1,270/month

3 Days on Market

Highlights

  • Raised Ranch Architecture
  • Baseboard Heating
  • Wood Siding
  • 2 Car Attached Garage

About This Home

As of October 2023

This nicely maintained duplex in Eagle River is now available as a turnkey investment. The raised ranch design provides an upper and a lower unit, each with closely matching layouts that include 2 bedrooms, a full bath, a kitchen with eat-in dining space, and spacious living rooms. Both units also offer two entry/exit points and have access to one stall each of the garage. The upper unit (month-to-month) rents for $650/month while the lower unit (year lease to July 2024) rents for $675/month. Tenants cover utilities while the owner pays for garbage pick-up (roughly $250/year) and Eagle River Fire Department fees ($120/year). A SureDry sump and drainage system was installed in September of 2022 and is warrantied for 25 years with that warranty transferrable to the new owner of the property. With rental inventory remaining low, the monthly rent amounts for each unit could likely be raised to generate more income.

Last Agent to Sell the Property

Ron Skagen

FIRST WEBER - RHINELANDER License #21338 - 90 Listed on: 09/06/2023

FIRST WEBER - RHINELANDER

Last Buyer's Agent

Ron Skagen

FIRST WEBER - RHINELANDER License #21338 - 90 Listed on: 09/06/2023

FIRST WEBER - RHINELANDER

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,363

Lot Details

  • 7,405 Sq Ft Lot

Parking

  • 2 Car Attached Garage
  • Gravel Driveway
  • Additional Parking

Home Design

  • Duplex
  • Raised Ranch Architecture
  • Block Foundation
  • Frame Construction
  • Shingle Roof
  • Composition Roof
  • Wood Siding

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Finished Basement

  • Basement Fills Entire Space Under The House
  • Interior and Exterior Basement Entry
  • Natural lighting in basement

Utilities

  • Baseboard Heating
  • Well
  • Electric Water Heater

Community Details

  • Cl Perrys 3Rd Add Subdivision

Listing and Financial Details

  • Assessor Parcel Number 221-795-01

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,363

Lot Details

0

Parking

2

Listing Details

  • Property Sub Type: Duplex
  • Prop. Type: Residential
  • Road Frontage Type: City Street
  • Ownership: Fee Simple
  • Subdivision Name: Cl Perrys 3rd Add
  • Above Grade Finished Sq Ft: 864.0
  • Architectural Style: Raised Ranch
  • Garage Yn: Yes
  • Property Sub Type Additional: Duplex
  • Special Features: None

Interior Features

  • Appliances: Electric Water Heater
  • Has Basement: Daylight, Exterior Entry, Full, Finished, Interior Entry
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 4
  • Below Grade Sq Ft: 864.0
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Mixed

Exterior Features

  • Waterfront: No
  • Construction Type: Frame, Wood Siding
  • Exterior Features: Gravel Driveway
  • Foundation Details: Block
  • Roof: Composition, Shingle

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 2.0
  • Parking Features: Additional Parking, Attached, Garage, Two Car Garage
  • Total Parking Spaces: 2.0

Utilities

  • Heating: Baseboard, Electric
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Water Source: Public

Lot Info

  • Lot Size Sq Ft: 7405.0
  • Parcel #: 221-795-01

Tax Info

  • Tax Annual Amount: 1363.0
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 6, 2023
Closed on
Oct 2, 2023
Sold by
Due North Management Property Llc A Wi
Bought by
Henry Michael T
Seller's Agent
Ron Skagen
FIRST WEBER - RHINELANDER
Buyer's Agent
Ron Skagen
FIRST WEBER - RHINELANDER
List Price
$159,500
Sold Price
$159,000
Premium/Discount to List
-$500
-0.31%
Views
31
Current Estimated Value
$213,193

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$54,193
Avg. Annual Appreciation
14.06%

Purchase Details

Closed on
Jun 29, 2022
Sold by
Marvin Randy J
Bought by
Due North Property Management Llc

Purchase Details

Listed on
Aug 1, 2019
Closed on
Sep 23, 2020
Sold by
Lee Olga E
Bought by
Marvin Randy J and Marvin Erin A
Seller's Agent
Tom Lee
SHOREWEST - MINOCQUA
Buyer's Agent
HEIDI GRETHER
SHOREWEST - RHINELANDER
List Price
$115,000
Sold Price
$85,000
Premium/Discount to List
-$30,000
-26.09%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.10%
Original Mortgage
$63,750
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 11, 2019
Sold by
Ls Rental Property Llc
Bought by
Lee Olga E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$58,407
Interest Rate
4.5%
Mortgage Type
Commercial

Purchase Details

Listed on
Aug 23, 2016
Closed on
Dec 1, 2016
Sold by
Cropsey Zachary M
Bought by
Ls Rental Property Llc
Seller's Agent
Julie Winter-Paez
RE/MAX PROPERTY PROS
Buyer's Agent
Tom Lee
SHOREWEST - MINOCQUA
List Price
$85,000
Sold Price
$80,000
Premium/Discount to List
-$5,000
-5.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.41%
Original Mortgage
$61,120
Interest Rate
3.52%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 16, 2014
Sold by
Cropsey Mark A and Cropsey Karen M
Bought by
Cropsey Zachary M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Interest Rate
4.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 15, 2006
Sold by
Kadlec Carol F
Bought by
Cropsey Mark A and Cropsey Karen M
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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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
Henry Michael T $159,000 Lake Country Title Services, L
Due North Property Management Llc $92,700 Houlihan Law Firm
Marvin Randy J $85,000 None Available
Lee Olga E $14,000 None Available
Ls Rental Property Llc $80,000 Lake Country Title Services
Cropsey Zachary M $51,000 Vilas Title Svcs Inc
Cropsey Mark A $90,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Marvin Randy J $63,750
Previous Owner Lee Olga E $58,407
Previous Owner Ls Rental Property Llc $61,120
Previous Owner Cropsey Zachary M $75,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/02/2023 10/02/23 Sold $159,000 -0.3% $92 / Sq Ft
09/12/2023 09/12/23 Pending -- -- --
09/08/2023 09/08/23 For Sale $159,500 +87.6% $92 / Sq Ft
09/23/2020 09/23/20 Sold $85,000 -26.1% $71 / Sq Ft View Prior Sale
08/24/2020 08/24/20 Pending -- -- --
08/09/2019 08/09/19 For Sale $115,000 +43.8% $96 / Sq Ft
12/01/2016 12/01/16 Sold $80,000 -5.9% $67 / Sq Ft View Prior Sale
12/01/2016 12/01/16 Pending -- -- --
08/23/2016 08/23/16 For Sale $85,000 -- $71 / Sq Ft
Source: Greater Northwoods MLS

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 $1,790 $158,500 $17,500 $141,000
2023 $1,575 $84,400 $13,000 $71,400
2022 $1,363 $84,400 $13,000 $71,400
2021 $1,375 $84,400 $13,000 $71,400
2020 $1,400 $84,400 $13,000 $71,400
2019 $1,682 $84,400 $13,000 $71,400
2018 $1,901 $84,400 $13,000 $71,400
2017 $1,338 $84,400 $13,000 $71,400
2016 $1,565 $84,400 $13,000 $71,400
2015 $1,615 $86,700 $14,600 $72,100
2014 -- $86,700 $14,600 $72,100
2013 $1,807 $86,700 $14,600 $72,100
Source: Public Records

Agents Affiliated with this Home

  • Ron Skagen

    Seller's Agent in 2023

    Ron Skagen

    FIRST WEBER - RHINELANDER

    (715) 550-8244

    3 in this area

    239 Total Sales

    Ron Skagen
    Section Image
  • Tom Lee

    Seller's Agent in 2020

    Tom Lee

    SHOREWEST - MINOCQUA

    (715) 892-1699

    77 Total Sales

    Tom Lee
    Section Image

  • H

    Buyer's Agent in 2020

    HEIDI GRETHER

    SHOREWEST - RHINELANDER

  • Julie Winter-Paez

    Seller's Agent in 2016

    Julie Winter-Paez

    RE/MAX

    (715) 891-1236

    152 in this area

    834 Total Sales

    Julie Winter-Paez
    Section Image
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Map

Source: Greater Northwoods MLS

MLS Number: 203685

Greater Northwoods MLS

APN: 221-795-01

Wisconsin Vilas County Eagle River 54521

517 Minnesota St, Eagle River, WI

Not Listed for Sale

MultiFamily

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