Sold for $290,000

$290,000

2050 Shipman Island, Ely, MN 55731

2beds

0baths

560sqft

Single Family Residence

Built in 2012

1.75 Acres Lot

$290,100 Zestimate^®

$518/sqft

$1,223 Estimated rent

Home value

$290,100

$276,000 - $305,000

$1,223/mo

Zestimate^® history

Owner options

List your home for rent

$1,223/mo

Rent Zestimate^®

Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.

Learn more

$1,223/mo

Rent Zestimate^®

Refinance and save

$1,910/mo

Est. payment

Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.

See today's rates

$1,910/mo

Est. payment

Explore your selling options

Work with a Zillow partner agent

Leverage their expertise and Zillow's premium Showcase listings to get your home seen by more buyers.

Get started

List with your own agent

Get your home in front of millions of buyers by listing it on Zillow.

Learn how to do it

Sell it yourself

Take full control of how buyers see your home on Zillow by listing For Sale by Owner (FSBO).

List your home

What's special

Classic up north charmMesmerizing lake viewsOpen layoutRugged rock outcroppings

Ely's own Shagawa Lake Shipman Island Cabin, all to yourself! You will find it tucked under some towering pines and rugged rock outcroppings, mesmerizing lake views and nearly 900 ft of shoreline. The picturesque coastline is pure Superior National Forest—no neighbors, just loons, eagles, and the occasional moose who thinks he owns the place. Built in 2012, this cozy 560 sq ft 2BR knotty-pine cabin delivers classic Up North charm. Open layout, lakeside deck connects to the kitchen cabin, and a dock with walk-in swimming area that’s basically your own private beach. In the 1800s this island was the summer escape of one of Ely’s original doctors—proof that even back then, the smart ones knew the best way to make house calls was by boat. (The iron ring is still bolted to the west end which was used to corral logs. Now it just corrals compliments.) Shagawa Lake (2,344 acres, max depth 48 ft) is a DNR walleye factory, the walleye ain't waitin' paddle fast to get this one!

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 2
Bathrooms: 0
Main level bedrooms: 1

Bedroom

Level: Main
Area: 53.5 Square Feet
Dimensions: 5 x 10.7

Bedroom

Level: Main
Area: 53.5 Square Feet
Dimensions: 5 x 10.7

Kitchen

Description: right off deck near main cabin
Level: Main
Area: 86.25 Square Feet
Dimensions: 7.5 x 11.5

Living room

Level: Main
Area: 256 Square Feet
Dimensions: 16 x 16

Heating

Wall Unit(s), Propane

Cooling

None

Features

Has basement: No
Has fireplace: No

Interior area

Total interior livable area: 560 sqft
Finished area above ground: 560
Finished area below ground: 0

Property

Parking

Parking features: Other, None

Features

Exterior features: Dock
Has view: Yes
View description: Inland Lake, Bay, Panoramic, City Lights, Typical
Has water view: Yes
Water view: Lake,Bay
Waterfront features: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Rocky, Sand)
Body of water: Shagawa
Frontage length: 900

Lot

Size: 1.75 Acres
Dimensions: 365 x 150
Features: Tree Coverage - Medium, Island/Peninsula

Details

Foundation area: 561
Parcel number: 465002004200

Construction

Type & style

Home type: SingleFamily
Architectural style: Rustic
Property subtype: Single Family Residence

Materials

Wood, Frame/Wood
Foundation: Stone, Wood
Roof: Asphalt Shingle

Condition

Previously Owned
Year built: 2012

Utilities & green energy

Electric: None
Sewer: Compost, Outhouse
Water: None

Community & HOA

HOA

Has HOA: No

Location

Region: Ely

Financial & listing details

Price per square foot: $518/sqft
Tax assessed value: $182,500
Annual tax amount: $1,653
Date on market: 3/23/2026
Cumulative days on market: 112 days
Listing terms: Cash,Conventional

Price history

Date	Event	Price
8/12/2026	Sold	$290,000-11.9%$518/sqft
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124158 Report a problem
7/16/2026	Pending sale	$329,000$588/sqft
Source: NorthstarMLS as distributed by MLS GRID #7045366 Report a problem
6/5/2026	Price change	$329,000-6%$588/sqft
Source: Range AOR #149646 Report a problem
3/23/2026	Listed for sale	$350,000-29.8%$625/sqft
Source: Range AOR #149646 Report a problem
9/1/2023	Listing removed	--
Source: Lake Superior Area Realtors as distributed by MLS GRID #6099612 Report a problem
9/13/2021	Listed for sale	$498,500$890/sqft
Source: Range AOR #142312 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$1,650 +19.9%	$182,500 +2%
2024	$1,376 +18.2%	$179,000 +19.1%
2023	$1,164 +11.1%	$150,300 +28.6%
2022	$1,048 +2.7%	$116,900 +22.9%
2021	$1,020	$95,100
2020	$1,020	$95,100
2019	$1,020 +9.9%	$95,100 +7.2%
2018	$928 -6.3%	$88,700
2017	$990 +6.7%	$88,700 +7.4%
2016	$928 +7.2%	$82,600 -15.4%
2015	$866 -14.3%	$97,600 +17.4%
2014	$1,010 +0.4%	$83,100 -15.4%
2012	$1,006 +75.2%	$98,200 +50.8%
2011	$574 +7.2%	$65,100 -0.2%
2010	$536	$65,200
2009	$536 +62%	$65,200 +71.1%
2008	$331 +40.3%	$38,100 +53.6%
2007	$236 +57.3%	$24,800 +58%
2006	$150 +81.7%	$15,700 +153.2%
2004	$83 +9.2%	$6,200 +12.7%
2003	$76 +12.2%	$5,500 +10%
2002	$67 -10.3%	$5,000 +8.7%
2001	$75 +4.5%	$4,600 +9.5%
2000	$72	$4,200