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5000 Lakeshore Dr, Makinen, MN, 55763

1beds
2baths
775sqft
$749,000
$966price/sqft
$4,724/moest. monthly cost
$188,960/yrincome needed

About This Home

Rare Lakefront Opportunity on Whiteface Reservoir — First Time Ever Offered to the Public and the Seller is MOTIVATED. Discover one of the most extraordinary lakefront properties in Northern Minnesota, now available for the very first time. Nestled on a private peninsula along the pristine shores of Whiteface Reservoir, this remarkable 2.5+ acre estate offers over 1,200 feet of coveted lakeshore — a figure that speaks for itself. With a sandy beach, a private boat launch, and sweeping water views from nearly every direction, this peninsula setting is truly unmatched. The property includes a cozy one-bedroom, two-bath home, perfect as a primary residence, cabin retreat, or guest quarters. It also features a large, heated garage with a studio space and an upper-level office — both easily convertible into additional living space to suit your vision. Step outside to your private outdoor sauna and shower, where the boundary between rustic luxury and natural beauty simply dissolves. With a rich history as a former campground, the land is well-suited for continued recreational use, a family compound, or thoughtful redevelopment. A 40 x77 prepped and seasoned building pad is ready for your dream build, and a brand new well and septic system mean the infrastructure is in place and waiting. Whether you envision a private family retreat, a luxury lodge, or a one-of-a-kind investment property, the bones are already here. Properties like this don't come along. Ever. Call to schedule a tour!

Getting Around

0
WalkingCar-Dependent
0
TransitVery Limited Transit
25
BikeSomewhat Bikeable

Schools

Construction

Condition

  • Year built: 1926

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence

Interior

Bedrooms & Bathrooms

  • Bedrooms: 1
  • 3/4 bathrooms: 1
  • 1/2 bathrooms: 1

Property

Lot

  • Lot size: 2.50 Acres

Parking

  • Total spaces: 2
  • Parking features: Gravel,Detached,Attic,Electrical Service,Heat,Insulation
  • Has garage: Yes
  • Attached garage spaces: 2
  • Covered spaces: 2

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Cold Wave
    Cold WaveVery High
  • Winter Weather
    Winter WeatherVery High
  • Heat Wave
    Heat WaveModerate
  • Inland Flooding
    Inland FloodingModerate
  • Lightning
    LightningModerate

How This Home’s Risks Compare

Cold Wave
Winter Weather
Heat Wave
Inland Flooding
Lightning

FEMA Declared Disasters in St. Louis County and Minnesota

Fire
Flood
Severe Storm
Straight Line Winds

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $3,787$45,444
Home Insurance *$131$1,572
Property Taxes $636$7,632
Electricity $170$2,050
Total$4,724$56,688
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$161,965/yr
40% on housing$141,720/yr
45% on housing$125,973/yr

Minnesota FAIR Plan Programs

Minnesota FAIR Plan

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 4,160Commercial: 101
Total Premiums$4.54M
Total Exposure$457.44M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 6.6%
6.6%
0%30.0%
Electricity Growth Rate10-year average: 2.7%
2.7%
0%15.0%
Property Taxes Growth Rate2-year average: 2.8%
2.8%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$966This listing

vs Other Active Listings

Avg $/sqft

ZIP 55763$111
St. Louis County$176

vs Homes Sold Last Month

Median $/sqft

ZIP 55763
St. Louis County

Current Market Trends

No market data available for this area

Historicals for This Listing

Zestimate History ($/sqft)

Price History

No price history available

For Sale by Agent

AgentNorma Jean Jofs
BrokerageNext Door Realty

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