This Private Island Could Be Yours for a Schockingly Low Price

This is the good kind of sticker shock.

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Courtesy of RAOR.org/Realtor.com

Just when you thought the Heidi Klums and Leonardo DiCaprios of the world were the only people who could afford their own private islands, this 1.2-acre dream retreat hits the market. The asking price? $298,000 – seriously.

Compare that to a median price of nearly $1.2 million for a home in New York City or the $455,000 median sale price in Hawaii, and it's clear that this private island is quite the steal.

It's located in Lake Vermilion in Northeast Minnesota, part of the boundary waters between the U.S. and Canada, according to Realtor.com. While dual citizenship is not included, the property does come with a two-bedroom main house and a 250-square-foot guesthouse.

The home boasts a two-level deck, perfect for taking in the extraordinary wilderness views, and a boat dock. The interior features a combination kitchen, dining and living area. High, vaulted and beamed ceilings add a rustic sensibility to the otherwise simplistic design.

The home hasn't undergone any major updates since being built in the 1970s, which, paired with the remote location, could be a contributing factor to its low asking price. However, those familiar with the local fishing area might actually consider the $298,000 price tag a bit steep. Minnesota's average home value is a modest $182,100.

The surrounding island landscape is brimming with lush vegetation and rocky embankments. It's the perfect property for those who love escaping to nature – especially those on a tight budget.

Take a closer look at the property below.

Courtesy of Realtor.com

Courtesy of Realtor.com

Courtesy of Realtor.com

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