2 months on rocket

5262 S Ely Is, Tower, MN, 55790

$490,000

Home List Price

$5,819*

Closing Credit

2 Bedrooms
0 Baths
624 SqFt
$785/SqFt
House

Location

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5262 S Ely Is, Tower$490,000

Buyer Closing Credits

$5,819*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingNone
HeatingFireplace(s), Wood
CoolingNone
WaterfrontLake
FireplaceWood Burning
ViewBay, Lake
MLS #6115912
Lot Size39.25 Acres
StatusActive
(ACTIVE)

About 5262 S Ely Is

Welcome to your Lake Vermilion Tranquil Island retreat. This charming rustic 2 bedroom log cabin situated on 39.25 acres with 3225 total feet of shoreline on both sides of Ely Island offers the ultimate privacy. The log cabin exudes timeless charm of a bygone era. The warm, inviting interior features a vaulted ceiling, stone wood- burning fireplace and wood floors. Enjoy breathtaking, panoramic views of the pristine waters. Island life provides endless opportunities for boating, fishing, kayaking, hiking and relaxing by the water's edge. Accessible only by boat, this log cabin is a gateway to a lifestyle of peace and adventure. Escape the crowds and immerse yourself in the natural beauty and quietude of beautiful Northern Minnesota!

Property Details

Property Features

Property Information:

  • Architectural Style: Rustic Cabin
  • Stories: 1
  • Living Area: 624 SqFt

Listing Office:

  • Office Name: Vermilion Land Office, Inc
  • Listing Agent: Sherry Anderson

Interior Features

Interior Information:

  • Appliances: Range, Refrigerator
  • Interior: Hardwood Floors, Vaulted Ceilings, Beamed Ceilings
  • Fireplace: Wood Burning

Bedroom and Bathroom Information:

  • Total Bedroom Count: 2

Exterior Features

Exterior Information:

  • Waterfront: Lake
  • View: Bay, Lake
  • Exterior: Deck, Dock

Parking Information:

  • Attached Garage: No
  • Parking: None

Lot Features

Lot Information:

  • Lot: Accessible Shoreline, Some Trees
  • Lot Size: 39.25 Acres

Utilities

Utilities Information:

  • Heating: Fireplace(s), Wood
  • Cooling: None

School Info

Assigned Schools Information:

  • Northeast Range Secondary School, Public District Grades 7-12
  • Tower-Soudan Elementary School, Public District Grades PK-6

Other

Directions Information:

  • Directions: Via boat from any boat launch. Stuntz Bay public boat launch to South side of Ely Island is approximately 1.65 miles.

Price Information

Listing Price Info

Price Summary:

  • List Price: $490,000
  • Price Per SqFt: $785/SqFt
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Housing Market Comparison

See how this home compares to others in Tower, MN.

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Tower, MN

City

Med. Sold Price

$395K

Med. Price/SqFt

$321

Avg. Days On Market

136

# of Sold Homes

9

5262 S Ely Is vs Tower

60 DAYS ON ROCKET

-76 Days

$490,000

+$95K More

$785/SqFt

+$463 More

KEY TAKEAWAY

This property is $95K more than the Median Sold Price and $463/SqFt more than other homes in Tower, MN.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #6115912

Listing Office:

  • Office Name: Vermilion Land Office, Inc
  • Listing Agent: Sherry Anderson

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Information is supplied by seller and other third parties and has not been verified. ©2024 Lake Superior Area REALTORS® MLS - All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/5/2024, 7:20:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$2,513

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,536

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-1971241
2
/10

  • Tower-Soudan Elementary School

  • 415 North 2nd St

  • 3.34 miles

  • Public District Grades PK-6

High School

school-card-donut-1971242
6
/10

  • Northeast Range Secondary School

  • 30 South Dr

  • 16.74 miles

  • Public District Grades 7-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $43,676. Typical income of Tower, MN residents is between $35k-100k annually. Most families are single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 5262 S Ely Is

What is the listing price of this property?

The listing price of 5262 S Ely Is property is $490,000.

What type of property is this?

The property 5262 S Ely Is is a house located in Tower, Minnesota, 55790.

Is this property for sale now?

Active Listing: 5262 S Ely Is is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 5262 S Ely Is are:
Tower-Soudan Elementary School: GreatSchools Rating 2/10
Northeast Range Secondary School: GreatSchools Rating 6/10

How many bedrooms and bathrooms does this property have?

The property at 5262 S Ely Is has 2 bedrooms.

What is the square footage of this property?

The property 5262 S Ely Is is 624 SqFt (source: MLS/tax record).

Rocket Homes›Minnesota›Saint Louis County›Tower›55790›5262 S Ely Is

This home is located at 5262 S Ely Is in Tower, MN and zip code 55790. This 624 square foot home sits on a 39.25 acre lot. Features: 2 bedrooms. It has been listed on Rocket Homes since September 05, 2024 and is currently priced at $490,000.

While more than 2 listings in Tower, MN in October 2024 were sold above asking price, there were more than 0 listings sold at asking price, and more than 7 were sold below. The number of homes for sale in Tower, MN decreased by 20% between September 2024 and October 2024. Listings spent 136 days on the market in October 2024, and had a median list price of $395,000 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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