# 4549 Old Oleary Island, Orr, MN 55771

> **TL;DR:** 2bd/1ba single family, $449,900 ($433/sqft), built 1993, 1,040 sqft.
> Fireplace, Waterfront. Est. $1,950/mo.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $449,900 |
| Price/sqft | $433 |
| Bedrooms | 2 |
| Bathrooms | 1 full |
| Square Feet | 1,040 |
| Year Built | 1993 |
| Lot Size | 16,988 sqft (0.39 acres) |
| Stories | 1 |
| Property Type | Single Family (Single Family Residence) |
| Status | For Sale |
| Days on Market | 0 |

## Why This Home Stands Out

- **Waterfront** - Direct water access

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $1,950 |
| **Total** | **$1,950** |

## Key Amenities

- Fireplace
- Waterfront

## Property Highlights

- Built in 1993
- 0.39 acre lot
- Fireplace
- Waterfront

## Description

### Agent Description
Welcome to Old Oleary Island on stunning Pelican Lake, a rare opportunity to own a fully operational short-term rental with good cash flow and an impressive booking rate on Airbnb/VRBO. Just a one-minute boat ride from the city of Orr, this 2-bed, 1-bath island retreat features water views from nearly every window, a cozy bunk house for extra guests, and a wood-fired hot tub for unforgettable evenings under the stars. Newer septic system and docks on two sides of the island make for easy lake access. May even include a barge for transporting items to and from the island. This is your chance to enjoy a Northwoods retreat while generating strong rental income, whether you keep it as a successful vacation rental, use it as your personal getaway, or both. Endless opportunities - too much to list! Be sure to view the virtual tour!

## Location

- **Address:** 4549 Old Oleary Island, Orr, MN 55771
- **Coordinates:** 48.054728, -92.839253
- **Google Maps:** https://www.google.com/maps?q=48.054728,-92.839253

## Listing Agent

- **Name:** James Marx
- **Brokerage:** Mirabella Realty
- **Phone:** 2189691478
- **Email:** james@mirabellarealtymn.com

## Primary Photo

![4549 Old Oleary Island - Primary Photo](http://lh.rdcpix.com/66f33ffbd8e316a25fc4fd5cd99ff471l-f1403799419r.jpg)

*50 total photos available on [listing page](https://www.propertysimple.com/listing/4549-old-oleary-island-orr-mn-55771-n148852)*

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**MLS#:** 148852 | **Updated:** 2026-04-24
**Source:** listhub

*Copyright © 2026 Range Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/4549-old-oleary-island-orr-mn-55771-n148852)

---

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