This unique property offers incredible versatility and income potential for the entrepreneurial-minded buyer. Located directly across the road from the Leech Lake Federal Dam Recreation Area, it is perfectly positioned to capture steady visitor traffic. The main home features a functional floor plan and an oversized attached garage. Two fully renovated and furnished one-bedroom cabins (taken down to the studs in 2022) currently operate as short-term rentals, generating excellent cash flow. Complementing the accommodations are two commercial spaces: a bait shop (completely renovated in 2024) and a gift shop, along with an RV pad and established firewood sales. Additional upgrades include new roofs on all buildings (garage to be completed within the next few weeks), new appliances, a new water softener, a new furnace in the main home, and many other improvements throughout. The sale also includes existing inventory, making this a true turnkey opportunity. Whether you’re looking to expand a resort business, launch multiple income streams, or simply enjoy living and working near the lake, this property presents a rare chance to own a ready-to-go investment in one of Minnesota’s most sought-after recreation areas. Don’t miss it!
Active
$350,000
2 4th Ave E, Federal Dam, MN 56641
3beds
672sqft
Est.:
Single Family Residence
Built in 1950
0.51 Acres Lot
$344,700 Zestimate®
$521/sqft
$-- HOA
What's special
Oversized attached garageFunctional floor plan
- 72 days |
- 132 |
- 1 |
Zillow last checked: 8 hours ago
Listing updated: October 18, 2025 at 11:18am
Listed by:
Dan Nielsen 218-996-9032,
Real Broker,LLC
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6790165
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 1
- 3/4 bathrooms: 2
Rooms
- Room types: Kitchen, Living Room, Bathroom
Bathroom
- Level: Main
Kitchen
- Level: Main
Living room
- Level: Main
Heating
- Ductless Mini-Split, Forced Air
Cooling
- Ductless Mini-Split
Appliances
- Included: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer, Water Softener Owned
Features
- Basement: Crawl Space
- Has fireplace: No
Interior area
- Total structure area: 672
- Total interior livable area: 672 sqft
- Finished area above ground: 672
- Finished area below ground: 0
Property
Parking
- Total spaces: 8
- Parking features: Attached, Concrete
- Attached garage spaces: 2
- Uncovered spaces: 6
- Details: Garage Dimensions (24x40), Garage Door Height (9), Garage Door Width (8)
Accessibility
- Accessibility features: No Stairs Internal
Features
- Levels: One
- Stories: 1
- Patio & porch: Deck
- Pool features: None
- Fencing: Chain Link,Partial,Wood
Lot
- Size: 0.51 Acres
- Dimensions: 120 x 200
- Features: Corner Lot
Details
- Additional structures: Additional Garage, Other, Storage Shed
- Foundation area: 672
- Parcel number: TBD
- Zoning description: Business/Commercial,Residential-Single Family
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Wood Siding, Frame
- Roof: Age 8 Years or Less,Asphalt,Metal,Pitched
Condition
- Age of Property: 75
- New construction: No
- Year built: 1950
Utilities & green energy
- Electric: Circuit Breakers, 200+ Amp Service, Power Company: Lake Country Power
- Gas: Electric, Propane
- Sewer: City Sewer/Connected
- Water: Private
Community & HOA
Community
- Subdivision: Original
HOA
- Has HOA: No
Location
- Region: Federal Dam
Financial & listing details
- Price per square foot: $521/sqft
- Tax assessed value: $107,200
- Annual tax amount: $492
- Date on market: 9/29/2025
- Cumulative days on market: 40 days
- Road surface type: Paved
Estimated market value
$344,700
$327,000 - $362,000
$1,261/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 9/29/2025 | Listed for sale | $350,000+600%$521/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6790165 Report a problem | ||
| 6/28/2023 | Sold | $50,000$74/sqft |
Source: Public Record Report a problem | ||
| 7/12/2018 | Sold | $50,000$74/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $324 -46.7% | $107,200 |
| 2023 | $608 +24.1% | $107,200 +19.4% |
| 2022 | $490 -18.6% | $89,800 +55.1% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$2,012/mo
Principal & interest
$1720
Property taxes
$169
Home insurance
$123
Climate risks
Neighborhood: 56641
Nearby schools
GreatSchools rating
- 3/10Remer Elementary SchoolGrades: PK-6Distance: 19.3 mi
- 3/10Northland SecondaryGrades: 7-12Distance: 19.3 mi
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