$1,430,000
SOLD APR 25, 2025

590 Riverview Rd Ely, MN 55731

4 Beds
2.5 Baths
2,846 Sq Ft
2.4 Acres

Recently Sold

$502 Per Sq Ft

4% Below List Price

33 Days on Market

Highlights

  • 212 Feet of Waterfront
  • Lake View
  • Radiant Floor
  • Beach Access
  • Living Room with Fireplace
  • Main Floor Primary Bedroom

About This Home

As of April 2025

Once in a lifetime, gem property only available due to a job change! Nearly new, custom built 1-1/2 story year-round lake home, 4 bed,3 bath,3 car garage, sits on 2.4 acres on the shores of Farm Lake, with 212 feet of level shoreline! Amazing wooded lot with very gradual elevation to the lake (no stairs to get to the dock!) and beautiful views from every window(south facing to the loake)! With this much amazing nature and wildlife it is hard to believe that you are only 5 miles from the quaint town of Ely with an array of shops, restaurants and live music. This home will stun from the moment you walk in the door, with vaulted ceilings over the Great Room, beautiful 2 story stone fireplace, custom 2 story Marvin windows to view lake and sky. Great open floor plan with large chefs kitchen that feature custom cabinetry, leathered granite countertops, stainless appliances, wall oven, custom venthood above the range and a pantry, as well as a large island! Open to the dining area with access to the large patio for outdoor dining and relaxing. There's also a beautiful sunroom with a stone fireplace to enjoy your morning coffee or curl up with a good book! Main floor primary suite with large windows for amazing day time and night time views, as well as a walk-in closet, ensuite bath with double sinks and tiled walk-in shower! There is a mud room/laundry room with built in cubby system right off the oversized 3 car heated garage for added convenience. Luxury plank flooring and tile throughout the main level with in-floor heat (as well as forced air and central AC). The upper level has an amazing family room with open loft for spectacular views of the lake and woods! There are also 2 bedrooms on the upper level, as well as another flex room -- bunk room, bedroom, office, craft room, you decide! There is a full bathroom and dual vanity upstairs as well! Back outside along with the amazing nature views, this home shines with its Smart LP engineered wood siding, stonework, a porch, a patio and a flagstone firepit area with a path to the dock and lake! There is a storage shed. Compliant septic system and well. This property is a boater/fisherman's paradise, Farm Lake itself is over 1200 acres with restaurants and resorts on the lake, access to the White Iron Chain of lakes more than 6,000 acres, The Kawishiwi River and direct access to the BWCA, you will never tire of the lake! Don't miss another day in this paradise!

Last Agent to Sell the Property

Jill Nungesser

LPT Realty, LLC Listed on: 01/29/2025

LPT Realty, LLC

Last Buyer's Agent

Sherry Zupancich Anderson

Vermilion Land Office, Inc.

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,649

Year Built

  • Built in 2023

Lot Details

  • 2.4 Acre Lot
  • Lot Dimensions are 536x71x132x533x178x22
  • 212 Feet of Waterfront
  • Lake Front
  • Zoning described as Shoreline,Residential-Single Family

Parking

  • 3 Car Attached Garage
  • Parking Storage or Cabinetry
  • Heated Garage
  • Insulated Garage
  • Garage Door Opener

Home Design

  • Flex
  • Architectural Shingle Roof

Interior Spaces

  • 2,846 Sq Ft Home
  • 1.5-Story Property
  • Circulating Fireplace
  • Stone Fireplace
  • Gas Fireplace
  • Mud Room
  • Entrance Foyer
  • Family Room
  • Living Room with Fireplace
  • 2 Fireplaces
  • Dining Room
  • Sun or Florida Room
  • Utility Room Floor Drain
  • Radiant Floor
  • Lake Views

Kitchen

  • Built-In Double Oven
  • Range
  • Microwave
  • Dishwasher
  • Stainless Steel Appliances
  • The kitchen features windows

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Primary Bedroom on Main

Laundry

  • Dryer
  • Washer

Eco-Friendly Details

  • Air Exchanger

Outdoor Features

  • Beach Access
  • Boundary Waters Canoe Area Access
  • Patio

Utilities

  • Forced Air Heating and Cooling System
  • Vented Exhaust Fan
  • 200+ Amp Service
  • Iron Water Filter
  • Private Water Source
  • Well
  • Drilled Well
  • Tankless Water Heater
  • Gas Water Heater
  • Water Softener is Owned
  • Fuel Tank
  • Septic System
  • Satellite Dish

Community Details

  • No Home Owners Association
  • Farm Lake Estates Subdivision

Listing and Financial Details

  • Assessor Parcel Number 28638701020

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,649

Year Built

Built in 2023

Lot Details

0

Parking

3

Listing Details

  • Type: Residential
  • Property Subtype 1: Single Family Residence
  • Cooling System: Central Air
  • Garage Spaces: 3
  • Accessibility Features: None
  • Fireplaces: 2
  • Water Source: Drilled, Private, Well
  • Year Built: 2023
  • Above Grade Finished Sq Ft: 2846
  • Water Body Name: Farm
  • Unit Levels: One and One Half
  • New Construction: No
  • FractionalOwnershipYN: No
  • Rental License?: No
  • InternetOptions: Satellite
  • Special Features: 4098
  • Property Sub Type: Detached

Interior Features

  • Basement: None
  • Appliances: Air-To-Air Exchanger, Dishwasher, Double Oven, Dryer, Exhaust Fan, Fuel Tank - Rented, Gas Water Heater, Iron Filter, Microwave, Range, Refrigerator, Stainless Steel Appliances, Tankless Water Heater, Wall Oven, Washer, Water Softener Owned
  • Fireplace Features: Circulating, Gas, Living Room, Stone
  • Living Area: 2846
  • Fireplace: Yes
  • Basement YN: No
  • Dining Room Type: Living Room, Dining Room, Kitchen, Foyer, Sun Room, Bedroom 1, Mud Room, Family Room, Bedroom 2, Bedroom 3, Flex Room, Patio

Beds/Baths

  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Total Bedrooms: 4
  • Three Quarter Bathrooms: 1

Exterior Features

  • Roof: Age 8 Years or Less, Architectural Shingle
  • PoolFeatures: None
  • Fencing: None
  • View: Lake, Panoramic, South
  • Other Structures: Storage Shed
  • ConstructionMaterialsDesc: Block,Concrete,Frame,Insulating Concrete Forms,Stone
  • PatioPorchType: Front Porch,Patio
  • Lake Bottom: Rocky
  • LakeChain: N
  • Elevation Highpoint to Waterfront Feet: 4-10
  • Waterfront Frontage: 212

Garage/Parking

  • Parking Features: Attached Garage, Electric, Floor Drain, Finished Garage, Garage Door Opener, Heated Garage, Insulated Garage, Storage

Utilities

  • Heating: Forced Air, Fireplace(s), Radiant Floor
  • Sewer: Mound Septic, Private Sewer, Septic System Compliant - Yes
  • Electric: Circuit Breakers, 200+ Amp Service
  • Fuel: Electric,Propane
  • Power Company: Minnesota Power

Condo/Co-op/Association

  • Association: No
  • Amenities Unit: Ceiling Fan(s),Dock,Kitchen Center Island,Kitchen Window,Primary Bedroom Walk-In Closet,Main Floor Primary Bedroom,Natural Woodwork,Patio,Paneled Doors,Porch,Panoramic View,Satelite Dish,Sun Room,Tile Floors,Vaulted Ceiling(s),Washer/Dryer Hookup,Walk-In Closet

Schools

  • Junior High Dist: Lake Superior
  • SchoolDistrictPhone: 218-834-8216

Lot Info

  • Waterfront YN: Yes
  • PropertyAttachedYN: No
  • Lot Size: 536x71x132x533x178x22
  • Lot Size Sq Ft: 104544
  • Land Lease: No
  • Lot Features: Accessible Shoreline, BWCA Access
  • Additional Parcels: No
  • Zoning Description: Shoreline,Residential-Single Family
  • ResoLotSizeUnits: Acres
  • AssessmentPending: No
  • Yearly/Seasonal: Yearly

Building Info

  • Construction Materials: Brick/Stone, Engineered Wood

Tax Info

  • Tax Year: 2024
  • Assessor Parcel Number: 28638701020
  • Tax Annual Amount: 4649
  • TaxWithAssessments: 4649.0000

Multi Family

  • WaterfrontFeatures: Dock, Lake Front, Lake View

Matterport 3D Tour

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 29, 2025
Closed on
Apr 21, 2025
Sold by
Laitinen Tim and Laitinen Lynn
Bought by
Hughey Michael and Hughey Rachel
Seller's Agent
Jill Nungesser
LPT Realty, LLC
Buyer's Agent
Sherry Zupancich Anderson
Vermilion Land Office, Inc.
List Price
$1,495,000
Sold Price
$1,430,000
Premium/Discount to List
-$65,000
-4.35%
Views
98
Current Estimated Value
$1,471,402

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$41,402
Avg. Annual Appreciation
4.71%
Original Mortgage
$715,000
Outstanding Balance
$711,814
Interest Rate
6.63%
Mortgage Type
New Conventional
Estimated Equity
$759,588

Purchase Details

Listed on
May 15, 2019
Closed on
Sep 17, 2020
Sold by
Wilkin Rt
Bought by
Laitinen Tim A and Laitinen Lynn M
Seller's Agent
Marcy Johnson
Johnson Hometown Realty
List Price
$168,000
Sold Price
$150,000
Premium/Discount to List
-$18,000
-10.71%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
63.26%
Original Mortgage
$120,000
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 15, 2019
Sold by
Oikonomos Properties Llc
Bought by
Wilkin Ret

Purchase Details

Closed on
Aug 8, 2017
Sold by
Wilkin Mary Katherine
Bought by
Oikonomos Properties Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Deed $1,430,000 --
Deed $150,000 None Available
Quit Claim Deed -- --
Quit Claim Deed -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $715,000 New Conventional
Previous Owner $120,000 New Conventional
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/25/2025 04/25/25 Sold $1,430,000 -4.3% $502 / Sq Ft
03/07/2025 03/07/25 Pending -- -- --
02/02/2025 02/02/25 For Sale $1,495,000 +896.7% $525 / Sq Ft
09/18/2020 09/18/20 Sold $150,000 -10.7% -- View Prior Sale
05/15/2019 05/15/19 For Sale $168,000 -- --
Source: NorthstarMLS

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 $5,476 $1,105,500 $221,400 $884,100
2024 $2,795 $836,100 $221,400 $614,700
2023 $1,355 $646,200 $208,000 $438,200
2022 $1,310 $299,800 $208,000 $91,800
2021 $1,496 $146,000 $146,000 $0
2020 $1,834 $162,200 $162,200 $0
2019 $18 $184,700 $184,700 $0
2018 $1,968 $184,700 $184,700 $0
2017 $1,824 $195,000 $195,000 $0
2016 $1,817 $184,800 $184,800 $0
2015 $1,815 $184,800 $184,800 $0
2014 $1,815 $0 $0 $0
2013 $1,835 $0 $0 $0
2012 $1,981 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: NorthstarMLS

MLS Number: 6653751

NorthstarMLS

APN: 28-6387-01020