2928 Waters Island, Ely, MN 55731 - Photo 1

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$2,450,000

For Sale
Active
Single Family
6 Beds
2 Full Baths
2 Partial Baths
2,146 Sq. Ft.

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Property Description

There is no other property on iconic Burntside Lake like this one! Welcome to Aurora Waters, a one of a kind, landmark home on a spectacular island! This is a magical property: 5 hand crafted cabins and 4 exotic Yurts spread through an enchanted, open forest of 20.9 acres with 2,140 feet of sunny, southern facing shoreline. Towering Norway pines and high granite bluffs offer shimmering island studded views across the vast, main body of the lake to the legendary Boundary Waters Wilderness, world famous for canoe trips. Catch giant lake trout in the 120' clear, spring fed depths in front of your dock, and sauna and swim under the shimmer of the Northern Lights. Bald eagles and deer abound. Loons call in the still twilight, and the stars are bright and close. Waters Island is the largest, most central island on Burntside and Aurora's neighboring forest is held in a Land Trust. It's the ultimate in seclusion and privacy, yet easily accessible via a nearby dock (included). There is a flat, spacious parking area with a level, hundred yard driveway to the Eastern Van Vac Road. Just seven paved miles to the charming frontier town of Ely with its cafes, restaurants, canoe outfitters and shopping. 40 minutes to the Hibbing Airport. Something like this will never come up for sale on Burntside again. Invest in a legacy property and a rare sanctuary in these turbulent times. Visit soon!

Full Property Details

Full Property Details for 2928 Waters Is

General

Price: $2,450,000
Taxes: $9,972 (2025)
Status: Active
Type: Single Family
Source: 1402
MLS ID: 6114501
Updated: 10/7/2025
Added to Site: 573 day(s) ago

Interior

Interior Features: Ceiling Fan(s), Hardwood Floors, Natural Woodwork, Tiled Floors
Fireplace: Yes
Number of Fireplaces: 1
Fireplace(s): Wood Burning
Appliances: Dishwasher, Dryer, Exhaust Fan, Microwave, Range, Refrigerator, Washer

Rooms

Bathrooms

Total Bathrooms: 4
Full Bathrooms: 2
3/4 Bathrooms: 1
Half Bathrooms: 1

Bedrooms

Total Bedrooms: 6

Other Rooms

Dining Room: Combine with Kitchen, Eat-In Kitchen, Informal Dining Room

Exterior

Exterior Features: Deck, Dock, Gutters & Downspouts

Parking

Parking Features: Gravel

Location

Area: R
County: St. Louis County
Driving Directions: By boat, NW from Van Vac Public Landing, Mainland property is road accessible.

School Information

High School District: Ely #696

Heating & Cooling

Cooling Type: Central Air
Heating Type: Baseboard, Wood, Electric

Utilities

Sewer: Private Sewer
Water: Private

Structural Information

Architectural Style: Ranch
Construction: Frame/Wood
Exterior Const.: Wood
Basement: Yes
Basement Desc.: Crawl Space
Foundation: Rock
Roof: Asphalt Shingle
Stories/Levels: 1
Square Feet: 2,146
Year Built: 1997

Additional Structures

Other Structures: Gazebo, Sauna, Storage Shed, Bunkhouse

Lot Features

Property View: Inland Lake, Panoramic
Lot Size (Acres): 20.9
Lot Dimensions: 1420 x 1070
Lot Features: Irregular Lot, Many Trees
Development Status: Previously Owned

Water Features

Water Front: Yes
Water View: Yes
Water Front Name: Burntside
Water Front Desc.: Inland Lake
Lake Front: Yes

Financial Considerations

Price Per Sq. Ft.: $1,141.66
Tax Amount: $9,972
Tax Year: 2025
Terms: Cash, Conventional

Disclosures and Reports

Legal Description: Parcel ID's 465-0040-03236, 03238. Legal to govern
Property ID: 465-0040-03236, 03238
Section: 21

Listed by Janisch Realty Inc.

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Schools

Schools serving 2928 Waters Is

School District:Ely Public School District

Name	Grades	Distance
Washington Elementary School, Ely, MN 520 East Harvey Street, Ely, MN 55731	PK-5	6.5 mi
Memorial Secondary 600 East Harvey Street, Ely, MN 55731	9-12	6.5 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 2928 Waters Is Get Price Alerts and Save Property

Date

Details

Price

Change

Source

6/23/2024

Listed

$2,450,000

489900%

MLS

11/02/2020

Sold

$500

—

Public Record

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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History

Tax History for 2928 Waters Is

Year

Property Taxes

Change

Tax Assessment

Change

2025

$9,252

—

$977,300

31%

2025

$9,252

34%

$745,400

19%

2024

$6,918

13%

$628,900

17%

2023

$6,140

4%

$538,600

—

2022

$5,898

-6%

$538,600

-8%

2020

$6,242

—

$583,600

—

2019

$6,218

—

$582,700

—

2018

$6,190

-1%

$582,600

—

2017

$6,254

-3%

$582,600

-4%

2016

$6,428

-2%

$604,200

—

2015

$6,532

2%

$604,200

1%

2014

$6,412

-1%

$595,500

—

2013

$6,468

—

$595,500

—

View All

Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost

Estimate the Cost for 2928 Waters Is

2928 Waters Island, Ely, MN 55731 (MLS# 6114501) is a Single Family property with 6 bedrooms, 2 full bathrooms and 2 partial bathrooms. 2928 Waters Island is currently listed for $2,450,000 and was received on June 23, 2024. Want to learn more about 2928 Waters Island? Do you have questions about finding other Single Family real estate for sale in Ely? You can browse all Ely real estate or contact a Coldwell Banker agent to request more information.

2928 Waters Is Ely, MN 55731