$246,000
- 7 Beds
- 4 Baths
- 2,600 Sq Ft
429 S 4th Ave E, Ely, MN 55731
Joseph Tome GRAND PROPERTIES REAL ESTATE
$246,000
429 S 4th Ave E, Ely, MN 55731
Joseph Tome GRAND PROPERTIES REAL ESTATE
$149,200
324 S 4th Ave E, Ely, MN 55731
Wendy Johnson Keller Williams Classic Realty Northwest
Ely, MN, is a small community in Northeast Minnesota, surrounded by the expansive Superior National Forest and bordering Canada. Known for its natural beauty, Ely attracts outdoor enthusiasts year-round, with activities like canoeing, kayaking, hiking, and blueberry picking in the warmer months, and snowmobiling, snowshoeing, and cross-country skiing during the frigid winters. The town's main park, Whiteside Park, features a playground, open fields, and a bandstand for community events. Ely's housing includes small in-town bungalows and more secluded lakeside homes, with many properties dating back to the early and mid-1900s. The downtown area along Sheridan Street hosts a variety of small businesses, including winter outfitter shops and restaurants like Boathouse Brewpub & Restaurant and Britton’s Café. Ely Memorial High School, which shares a building with Washington Elementary, is highly rated and serves students in grades 6 through 12. The community gathers annually for the Blueberry Art Festival, celebrating local art and blueberry-infused foods. Ely is also home to the North American Bear Center and the International Wolf Center. For those needing to travel, Minnesota State Highway 1 provides access to Virginia, 50 miles away, and Duluth, approximately 100 miles away. The town is served by Ely Bloomenson Community Hospital, ensuring residents have access to medical care.
The median home sale price in Ely, MN is $194,500, up 2% year-over-year. Homes in Ely sell in 76 days on average, compared to the national average of 56 days.
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Median Sale Price
$194,500
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Median Single Family Sale Price
$198,000
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Median 2 Bedroom Sale Price
$143,000
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Median 1 Bedroom Sale Price
$110,000
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Average Price Per Sq Ft
$154
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Number of Homes for Sale
18
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Last 12 months Home Sales
50
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Months of Supply
4.30
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Median List Price
$200,000
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Median Change From 1st List Price
0%
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Median Home Sale Price YoY Change
2%
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In Ely, there are currently 2 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $149,200 to $246,000, there's a range to accomodate every budget. As of August, 2026 the median home price in Ely is $200,000, while the average sale price is $223,024, offering insights into the local housing market. On average, multi-family homes spend 76 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Ely, MN.