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5312 S Stone Rd
South Range, WI 54874
$1,100,000
Conventional
Property
Bedroom
9
Bathroom
10
Property Type
Conventional
Square ft
5277
Property Description
Escape the ordinary to your sanctuary on Stone Road. Located at the end of Stone Road with views of Superior and the Duluth skyline is a custom stone triplex on 80 acres that offers so much and has so many potential uses. This amazing hand-crafted home was built by 3 family members as a safe place to get away from it all. This truly unique underground home is built to stand the test of time with a stone and mortar exterior, a living roof on top of a newer rubber roof laid over Spancrete, prestressed hollow core ceiling slabs for the ultimate in strength and durability. The walls and interior structure are a mixture of poured concrete in high-load areas and concrete block in other areas to create storage rooms and interior walls. Each unit is unique in the layout and configuration, but they all have 3 bedrooms, 1 full bathroom, and a well-appointed kitchen with pantries and storage spaces. One thing that sets this tri-plex apart is the fact that it features large common spaces. The upper level has a large lobby with access to the upper 2 units and the stairs to the lower level. It also provides access to the back stone-walled courtyard and stairs to the living roof. The lower level offers approximately 2520 sq ft of common space. This common space has a large rec room, a 3/4 bathroom with cedar lined sauna, a shop/storage room, office space, wood storage room, utility room, a canning kitchen, shared laundry with 2 washing machines and 2 dryers, and access to the attached 8 car garage. Heat is provided by combination propane/wood boilers. For the ultimate in preparation, there are 2 wells on the property providing plenty of fresh water for the residents. Built by preppers for preppers, there are back-up valves, meters, and many other features "just in case." Use it as a corporate retreat, short or long-term rental, a custom escape compound, a large multi-family or group retreat, or a great place to live off-grid and off the land. There is a large generator house that is now empty and a large tower for the old wind generator. The 8o private acres of land is amazing with apple trees, frontage on the Little Amnicon River, the original quarry from which the stone was sourced a 25-300 yard shooting range, and 5+ acres of cleared land that would be perfect for gardening or enjoying the vistas. There's no other property like this in existence, and if you had to build it today it would cost you millions.
Property Information
Lot Size
80 acre(s) square ft
Property Type
MultiFamily
Year Built
1979
MLS Number
6112473
Location
Address
5312 S Stone Rd
City
South Range
State
WI
Zip Code
54874
County
DOUGLAS
Listing
Provider
RE/MAX Results, original listing
Name
RE/MAX Results
Phone
(952) 829-2900
Office Name
RE/MAX Results
Office Phone
(952) 829-2900
Agent Name
Leah Hollenbach

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.