NOT LISTED FOR SALE

5368 Ely Island S Tower, MN 55790

Estimated Value: $293,000 - $357,000

2 Beds
0.5 Bath
882 Sq Ft
1.67 Acres

Last Sold September 05, 2024

Last sale price $295,000 $334 Per Sq Ft

Est. 10% increase in value since last sale

Current estimated payment $1,941/month

76 Days on Market

Highlights

  • Deck
  • Baseboard Heating
  • Wood Burning Fireplace
  • 1-Story Property

About This Home

As of September 2024

Discover the unparalleled serenity of Lake Vermilion's Ely Island with this charming cabin retreat nestled on 1.64 acres with 230' of shoreline. An open-concept loft design with large windows allows for abundant natural light and breathtaking lake views. A spacious deck offers the perfect setting for outdoor dining, relaxation and entertaining. The cabin includes a boat house that is currently used for storage but could easily be converted back to a boat house. The cabin is fully insulated. Two docks. Boat lift included. Easy boat access from several public boat launches. Embrace the simplicity and tranquility of island living in this Northern Minnesota cabin retreat. Don't miss out on this gem...schedule your private tour today!

Last Agent to Sell the Property

Sherry Zupancich Anderson

Vermilion Land Office Inc License #40026207 Listed on: 05/22/2024

Last Buyer's Agent

Sherry Zupancich Anderson

Vermilion Land Office Inc License #40026207 Listed on: 05/22/2024

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $2,437

Year Built

  • Built in 1994

Lot Details

  • 1.67

Home Design

  • Loft
  • Wood Frame Construction
  • Shingle Roof
  • Asphalt Roof

Interior Spaces

  • 882 Sq Ft Home
  • 1-Story Property
  • Wood Burning Fireplace
  • Free Standing Fireplace
  • Washer

Kitchen

  • Gas Range
  • Microwave

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 0.5 Bathroom

Outdoor Features

  • Deck

Utilities

  • Window Unit Cooling System
  • Heating System Uses Wood
  • Baseboard Heating
  • The lake is a source of water for the property
  • Septic System

Listing and Financial Details

  • Assessor Parcel Number 270-0116-00040

Property Details

Home Type

Condominium

Est. Annual Taxes

$2,437

Year Built

Built in 1994

Lot Details

0

Listing Details

  • Class: Residential
  • Construction: Wood Frame
  • Heat: Wood, Electric, Baseboard
  • Lvt Date: 05/22/2024
  • Main Level Bathrooms: .5
  • Number Of Bedrooms: 2
  • Parcel Code Number: 270-0116-00040
  • Patioporch: Deck
  • Real Estate Tax: 2437
  • Style: One Story And A Loft
  • Type: Residential
  • Upper Level Bedrooms: 1
  • Year Built: 1994
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Total Finished Sq Ft: 882
  • Bedroom 1: Size: 11.7x11.7, On Level: Main
  • Total Bathrooms: 0.5
  • Appliances: Microwave, Refrigerator, Washer, Gas Range
  • Bedroom 2: Size: 15x13, On Level: Upper
  • Dining Room: Size: Comb, On Level: Main
  • Fireplace: 1 Fireplace, Free Standing, Wood Burning
  • Kitchen: Size: 13.11x10, On Level: Main
  • Living Room: Size: 27.5x15.3, On Level: Main
  • Main Level Bedrooms: 1

Exterior Features

  • Exterior: Aluminum
  • Roof: Asphalt, Shingle

Utilities

  • Cooling: Window Unit
  • Utilities: Septic, Lake Water System

Lot Info

  • Lot Size: Dimensions: 424x230
  • Number Of Acres: 1.67
  • Zoning: RES

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 22, 2024
Closed on
Aug 30, 2024
Sold by
Carlon Lyle Emmet
Bought by
Dirks Robert G and Dirks Kimberly R
Seller's Agent
Sherry Zupancich Anderson
Vermilion Land Office Inc
Buyer's Agent
Sherry Zupancich Anderson
Vermilion Land Office Inc
List Price
$349,900
Sold Price
$295,000
Premium/Discount to List
-$54,900
-15.69%
Views
28
Current Estimated Value
$323,381

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$28,381
Avg. Annual Appreciation
8.39%
Original Mortgage
$295,000
Outstanding Balance
$291,696
Interest Rate
6.49%
Mortgage Type
New Conventional
Estimated Equity
$31,685
Source: Public Records

Range of Values:

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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
Dirks Robert G $295,000 All American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Dirks Robert G $295,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/05/2024 09/05/24 Sold $295,000 -15.7% $334 / Sq Ft
08/06/2024 08/06/24 Pending -- -- --
05/22/2024 05/22/24 For Sale $349,900 -- $397 / Sq Ft
Source: Range Association of 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 $2,878 $243,900 $106,100 $137,800
2023 $2,878 $209,600 $89,000 $120,600
2022 $2,522 $209,600 $89,000 $120,600
2021 $2,526 $175,900 $76,800 $99,100
2020 $2,254 $175,900 $76,800 $99,100
2019 $2,144 $156,600 $78,600 $78,000
2018 $1,902 $156,200 $78,200 $78,000
2017 $1,856 $135,800 $73,800 $62,000
2016 $1,238 $133,300 $71,300 $62,000
2015 $1,033 $91,400 $43,100 $48,300
2014 $1,033 $91,400 $43,100 $48,300
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Range Association of REALTORS®

MLS Number: 146721

Range Association of REALTORS®

APN: 270011600040

Minnesota St Louis County Tower 55790

5368 Ely Island S, Tower, MN

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