5 days on Rocket
$2,671 Closing Credit¹
#6119383, Tim Collelo, Listing Office: Tim Collelo Realty, LLC
$250,000 List price
506 2nd St S Tower, MN 55790
$2,969
Closing credit¹
3 beds
1 full, 1 partial
1,659 sqft
$151 / sqft
House
Property details
About 506 2nd St S
Beautifully updated historical home with the perfect blend of charm & modern updates. This property has been renovated throughout & is situated in-town Tower; allowing easy access to Lake Vermilion & its recreational opportunities. It is within walking distance to downtown shops, restaurants & more.(Just bocks away from the recently proposed/approved Downtown Harbor Marina) This home offers; 3 beds, 1.25 baths & a newly constructed 2 stall detached garage. It has such a warm welcoming ambience, ideal for entertaining. It has many new, professionally updated features which include; two brand new freestanding fireplaces, newly constructed screen porch, new propane furnace, new tankless water heater, electrical upgrades, complete cosmetic renovation of almost every room in the home; tasteful, contemporary & executed as out of a designer magazine. It also includes; a freshly painted exterior, tongue & groove ceilings & so much more!!! The master suite is enormous in size. It offers a second entrance & small balcony; overlooking the backyard. Many furnishings are available to be included with sale. This property presents so many possibilities for many types of enjoyment. Some examples include; *Primary home; provides lots of space & is move- in ready, *Secondary home; on land for island owners, *Secondary home; close to Lake Vermillion & all the amenities that the area has to offer without the large price or taxes or *Short term rental opportunity (Airbnb); take the advantage of staying when you want & rent it out the rest of the year! Excellent vibe, layout & location!
Highlights
Home typeSingle Family Residence
HeatingForced Air, Wood Stove
StatusActive
Size1,659 sqft
Year built1898
ParkingDetached
MLS #6716552
Garage2 spaces
FireplaceFree Standing, Wood Burning
Summary
- Partial Bathrooms: 1
- Full Bathrooms: 1
- Appliances: Dryer, Electric Water Heater, Range, Refrigerator, Washer
- Basement: No
- Fireplace: Free Standing, Wood Burning
- Total Bedroom Count: 3
- Garage Space: 2 spaces
- Attached Garage: No
- Parking: Detached
- Heating: Forced Air, Wood Stove
- Cooling: None
- List Price: $250,000
- Price/SqFt: $150
- HOA Amount: $0
- Annual Tax Amount: $922
- Tax Year: 2023
- Directions: In- town Tower
- Year Built: 1898
- Living Area: 1,659 SqFt
- MLS Number: 6716552
- MLS Name: NORTHSTAR
- Office Name: MN DIRECT PROPERTIES
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$250,000
506 2nd St S
$2,969
closing credit¹
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Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 18, 2023 | Home Sold | $124,900 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $69,100 | $922 |
| 2021 | $51,100 | $1,210 |
| 2020 | $51,100 | $454 |
History based on county public records data.
Nearby schools
2
Tower-Soudan Elementary School
Public District PK-6
0.2 mi
•415 2nd St N
4
Babbit Elementary School
Public District PK-6
16.5 mi
•30 South Dr
5
Mesabi East Elementary School
Public District PK-6
18.9 mi
•601 N 1st St W
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $43,676. Most Tower, MN residents have annual incomes between $35k-100k. Residents typically live in single, no kids family. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
42%
<35k
47%
35k-100k
9%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
48%
Single, No Kids
11%
Single, with Kids
34%
Married, No Kids
7%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
11%
<11 yrs old
5%
12-17 yrs old
14%
18-34 yrs old
41%
35-64 yrs old
29%
65+ yrs old
What do the neighbors do for fun?
NASCAR
Figure Skating
Hunting
Where do the neighbors shop?
Bass Pro Shops
Dollar General
Wal-Mart
Where do the neighbors go to eat?
Hardee's
Applebees
Jimmy Johns
What do the neighbors drive?
GMC
Cadillac
Ram
What do the neighbors listen to?
Classic Country- Country
New Country
All data provided by Home Junction and Claritas
Similar homes for sale
5 days on Rocket
$2,671 Closing Credit¹
#6722514, Listing Office: Tim Collelo Realty LLC
Frequently asked questions
About 506 2nd St S
The listing price of 506 2nd St S property is $250,000.
The property 506 2nd St S is a house located in Tower, Minnesota, 55790.
Active Listing: 506 2nd St S is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 506 2nd St S are: Tower-Soudan Elementary School (GreatSchools Rating 2/10), Babbit Elementary School (GreatSchools Rating 4/10), Mesabi East Elementary School (GreatSchools Rating 5/10), Memorial Middle School (GreatSchools Rating 4/10), Northeast Range Secondary School (GreatSchools Rating 7/10), Mesabi East Secondary School (GreatSchools Rating 4/10), Memorial High School (GreatSchools Rating 8/10).
According to the records, the last property tax for 2023 is $922 (source: MLS/based on county public records data).
The last sale was on December 18, 2023 for $124,900 (source: MLS/tax record).
The property at 506 2nd St S has 3 bedrooms and 1 full and 1 half bathrooms.
The property 506 2nd St S is 1,659 SqFt (source: MLS/tax record).
The year of construction for 506 2nd St S is 1898.
This home is located at 506 2nd St S in Tower, MN and zip code 55790. This 1,659 square foot home was built in 1898. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since May 8, 2025 and is currently priced at $250,000.
Over 1 listings were sold over their listed price in April 2025 in Tower, MN. In the same period over 1 listings were sold below the listed price and 0 listings were sold for the listed price. Between March and April 2025, Tower, MN real estate market has seen increase in the number of listings by 20%. While the average time on the market in April 2025 was 1 days, the median list price was $350,000.
From Rocket Homes Real Estate and based on county public records data.