For sale

Price cut: $124K (7/30)

$475,000

2734 Bear Island River Rd, Ely, MN 55731-0000

2beds

1,172sqft

$3,121/mo

Get pre-qualified

Single Family Residence

Built in 1972

0.75 Acres Lot

$453,400 Zestimate^®

$405/sqft

$-- HOA

What's special

Everything on one levelShed for gearEvenings on the shoreSouthwest exposureBright eat-in kitchenComfortable bedrooms

Stop the scroll—this is the lake place you’ve been waiting for! With 266 feet of prime shoreline, this one-level 2+ bedroom, 2 bath cabin is perched perfectly for sweeping island views, southwest exposure, and jaw-dropping sunsets over Bear Island Lake. Inside, enjoy a bright, eat-in kitchen where you can watch the lake sparkle while you dine, plus comfortable bedrooms and two baths with plenty of room for everyone. The living is easy with everything on one level. Outside, you’ll find a 22x26 detached garage, shed for gear, and outdoor spaces that make lake living a dream. Imagine evenings on the shore, campfires with friends, and mornings where the only sound is the call of a loon. Lovingly held as a long-time family cabin, this retreat is now ready for new memories. Whether you’re looking for weekends of relaxation or a forever place by the water, this property delivers all the Up North vibes. Don’t miss this rare opportunity to claim your spot on Bear Island Lake!

147 days

1,326

43

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 2
Bathrooms: 2
Full bathrooms: 1
1/4 bathrooms: 1
Main level bedrooms: 1

Bedroom

Level: Main
Area: 96 Square Feet
Dimensions: 8 x 12

Bedroom

Level: Main
Area: 210 Square Feet
Dimensions: 14 x 15

Kitchen

Level: Main
Area: 144 Square Feet
Dimensions: 12 x 12

Living room

Level: Main
Area: 336 Square Feet
Dimensions: 28 x 12

Office

Level: Main
Area: 64 Square Feet
Dimensions: 8 x 8

Heating

Propane, Electric

Cooling

None

Appliances

Included: Water Heater-Electric, Range, Refrigerator

Features

Basement: N/A
Number of fireplaces: 1
Fireplace features: Gas

Interior area

Total interior livable area: 1,172 sqft
Finished area above ground: 1,172
Finished area below ground: 0

Property

Parking

Total spaces: 2
Parking features: Detached
Garage spaces: 2

Features

Has view: Yes
View description: Inland Lake
Has water view: Yes
Water view: Lake
Waterfront features: Inland Lake, Waterfront Access(Private)
Body of water: Bear Island
Frontage length: 266

Lot

Size: 0.75 Acres
Dimensions: 315.00 x 242.00

Details

Additional structures: Storage Shed
Foundation area: 864
Parcel number: 625002600650
Zoning description: Residential

Construction

Type & style

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

Materials

Wood, Frame/Wood
Roof: Asphalt Shingle

Condition

Previously Owned
Year built: 1972

Utilities & green energy

Electric: Lake Country Power
Sewer: Private Sewer
Water: Drilled

Community & HOA

HOA

Has HOA: No

Location

Region: Ely

Financial & listing details

Price per square foot: $405/sqft
Tax assessed value: $456,600
Annual tax amount: $4,765
Date on market: 3/20/2026
Cumulative days on market: 147 days
Listing terms: Cash,Conventional

Estimated market value

$453,400

$431,000 - $476,000

$1,706/mo

Price history

Date	Event	Price
7/30/2026	Price change	$475,000-20.7%$405/sqft
Source: Range AOR #149639 Report a problem
3/20/2026	Listed for sale	$599,000-13.8%$511/sqft
Source: Range AOR #149639 Report a problem
12/26/2025	Listing removed	$695,000$593/sqft
Source: Lake Superior Area Realtors as distributed by MLS GRID #6122301 Report a problem
10/6/2025	Listed for sale	$695,000+1058.3%$593/sqft
Source: Range AOR #149125 Report a problem
6/25/2020	Sold	$60,000$51/sqft
Source: Public Record Report a problem
9/14/2015	Sold	$60,000$51/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$4,750 +2.6%	$456,600 +24.7%
2023	$4,630 -3.9%	$366,300 +12.1%
2022	$4,820 +37.8%	$326,800 +6.1%
2021	$3,498	$308,000 +11.6%
2020	$3,498	$275,900
2019	$3,498 -6%	$275,900 -7.1%
2018	$3,722 -0.1%	$297,100
2017	$3,724 +0.1%	$297,100 -4.8%
2016	$3,722 -5.1%	$312,200 +4.8%
2015	$3,924 +14.9%	$297,800
2014	$3,414 +2%	$297,800 -3%
2013	$3,348 -9.9%	$306,900 -15.6%
2012	$3,715 +20%	$363,600 -1.1%
2011	$3,095 +0.7%	$367,700
2010	$3,073	$367,700
2009	$3,073 +54%	$367,700 +51.3%
2008	$1,995 +7.6%	$243,000 +15%
2007	$1,854 +47.8%	$211,300 +15%
2006	$1,254 +25%	$183,700 +47.6%
2004	$1,004 +47.9%	$124,500 +28.9%
2003	$679 +61.8%	$96,600 +14.3%
2002	$419 -33.5%	$84,500 +9.2%
2001	$630 +20.6%	$77,400 +8.6%
2000	$523	$71,300