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5298 Long Is, Tower, MN, 55790

1beds
1baths
600sqft
$275,000
$458price/sqft
$1,973/moest. monthly cost
$78,920/yrincome needed

About This Home

Charming A-frame cabin on Long Island in Lake Vermilion offering 487 feet of shoreline and approximately 2.0 acres with water access on two sides. Built in 2019, this 20x24 cabin with a 10x12 loft features one bedroom plus additional sleeping space, new electric service, and a functional setup including a mini fridge and mini freezer. The property is located in a protected bay off Stuntz Bay, providing reliable access even in less favorable weather conditions and just a short 5-minute boat ride from the mainland. The cabin offers a warm, modern-rustic feel with vaulted ceilings and natural wood finishes, creating a comfortable retreat for extended stays or seasonal use. An outhouse is on site, and the property has been approved for septic installation with two potential locations identified, offering excellent future improvement potential. A separate 12x20 sauna and sitting room building is framed and weather-tight, with construction started in 2025. The 8x12 sauna area is ready for completion and includes a Lamppa Manufacturing sauna stove (not yet installed). The additional space provides flexibility for a gathering area, lounge, or recreation space. Docking includes a Pier of d’Nort tip-in dock extending approximately 24 feet beyond the platform, ideal for boating and enjoying the lake. The property offers excellent fishing and a peaceful Northwoods setting with mature white pine trees, 200+ year old cedar trees, and natural privacy. Additional features include a private archaeological site located on the property, adding unique historical character. With low monthly electric costs and reasonable property taxes, this property presents a strong opportunity as a seasonal retreat or potential vacation rental.

Getting Around

2
WalkingCar-Dependent
0
TransitVery Limited Transit
27
BikeSomewhat Bikeable

Schools

5/10
6/10
Northeast Range SecondaryGrades 7-1216.3 mi

Construction

Condition

  • Year built: 2019

Materials

  • Roof: Metal

Type & Style

  • Home type: SingleFamily

Interior

Appliances

  • Appliances included: Freezer,Refrigerator

Basement

  • Basement: None

Bedrooms & Bathrooms

  • Bedrooms: 1
  • Bathrooms: 1
  • 1/4 bathrooms: 1

Features

  • Flooring: Other

Heating & Cooling

  • Heating features: Wall,Electric
  • Cooling features: None

Interior Area

  • Total interior livable area: 600 sqft

Property

Features

  • Exterior features: Vinyl
  • Has view: Yes
  • View description: Water
  • Has water view: Yes
  • Water view: Water
  • On waterfront: Yes

Lot

  • Lot size: 2 Acres

Parking

  • Parking features: None

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 WeatherRelatively High
  • Heat Wave
    Heat WaveModerate
  • Inland Flooding
    Inland FloodingModerate
  • Lightning
    LightningModerate
  • Wildfire
    WildfireModerate

How This Home’s Risks Compare

Cold Wave
Winter Weather
Heat Wave
Inland Flooding
Lightning
Wildfire

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 $1,390$16,680
Home Insurance *$180$2,160
Property Taxes $233$2,796
Electricity $170$2,050
Total$1,973$23,676
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$67,645/yr
40% on housing$59,190/yr
45% on housing$52,613/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

$458This listing

vs Other Active Listings

Avg $/sqft

ZIP 55790$273
St. Louis County$177

vs Homes Sold Last Month

Median $/sqft

ZIP 55790
St. Louis County

Current Market Trends

No market data available for this area

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-03-26Listed for sale$339,000

For Sale by Owner

AgentProperty Owner

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