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7424 Ely Lake Drive

Fayal Twp, MN 55734

4 beds
2 baths
2,452 sqft
~7 acre lot
$150 per sqft
1982 build
– on site

This newly remodeled home sits on 7 acres in the desirable Fayal Township! The front yard offers views of Beautiful Ely Lake, while the privacy of a large back deck allows you to entertain and enjoy a spacious back yard. The 4 bed, 1.75 bath has a variety of updates including flooring, carpet and appliances as well as a natural gas fireplace and water filtration system. Enjoy a drink in the updated bar room while watching your favorite sports team! New siding in 2024 on the house and detached 3 stall garage. Lots of garage space for vehicles and toys as well as 2 large storage units for extras. Everything you are looking for to have country living close to town!

Listing courtesy of NORTHSTAR / Steven Koleno / Beycome Brokerage Realty LLC

Last checked: Checking… • Last updated May 13, 2025 •

MLS# 6717895 —

The Building

Year Built:

1982
New Construction:

false
Age Of Property:

43
Construction Materials:

Vinyl Siding
Accessibility Features:

Doors 36"+
Levels:

Split Entry (Bi-Level)
Main Level Finished Area:

576.0000
Basement:

Full
Basement:

true
Foundation Area:

1300
Manufactured Home:

No
Building Area Total:

2452
Above Grade Finished Area:

1876
Below Grade Finished Area:

576

Interior

Fireplace:

true
Fireplaces Total:

1

Room Dimensions

Living Area:

2452

Location

Directions:

Turn on to Miller Trunk Highway off of Highway 53. Turn at the Ely Lake gas station onto Ely Lake drive and continue to 7424.
Latitude:

47.445901
Longitude:

-92.471462

The Property

Parcel Number:

340004000690
Zoning Description:

Residential-Single Family
Property Type:

Residential
Property Subtype:

Single Family Residence
Property Attached:

false
Additional Parcels:

false
Lot Size Area:

7
Lot Size Dimensions:

1295x296
Lot Size SqFt:

304920
Lot Size Units:

Acres
Water Source:

Well
Land Lease:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2024
Tax Annual Amount:

2598
Tax With Assessments:

2598.0000

Beds

Bedrooms Total:

4

Baths

Total Baths:

2
Full Baths:

2

Heating & Cooling

Heating:

Baseboard, Fireplace(s)
Cooling:

Window Unit(s)

Utilities

Sewer:

City Sewer/Connected

Schools

High School District:

Eveleth-Gilbert

The Community

Subdivision Name:

Cedar Island Lake Beach Fayal
Association:

false
Assessment Pending:

No

Parking

Parking Features:

Detached
Garage Spaces:

3
Garage SqFt:

1248

Monthly cost estimate

Asking price

$369,000

Expense	Monthly cost
Mortgage	$1,975
Taxes	$216
Insurance	$101
Utilities	$228 See report
Total	$2,520/mo.^*
	^*This is an estimate

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Sale history

Date	Event	Source	Price	% Change
5/8/25 May 8, 2025	Listed / Active	NORTHSTAR	$369,000	88.3% (19.7% / YR)
11/17/20 Nov 17, 2020		DAAR	$196,000	-8.8%
9/2/20 Sep 2, 2020		DAAR	$215,000

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This house located in MN 55734 is currently for sale for $369,000. 7424 Ely Lake Drive is a 2,452 square foot house with 4 beds and 2 baths that has been on Estately for 5 days. This house is in the attendance area of Eveleth-Gilbert Secondary and Laurentian Elementary.

Listing Courtesy of: NORTHSTAR and Beycome Brokerage Realty LLC.

Estately, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Thomas Rehman, a licensed Real Estate Broker in the state of Minnesota, and a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information deemed reliable but not guaranteed.

©2025 Regional Multiple Listing Service of Minnesota, Inc. All Rights Reserved. Information deemed reliable but not guaranteed. Property data presented reflects information otherwise available from public records. The REALTOR® providing this information may not have represented the buyer or seller in some or all of the transactions.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. RMLS and Estately, Inc. assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law.

Open house information subject to change without notice.

Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.