2045 Highway 1, Ely, MN 55731
OFF MARKET

$606,800

Trulia Estimate
  • 3 Beds
  • 2 Baths
  • 2,438 sqft (on 40 acres)

2045 Highway 1, Ely, MN 55731

Est. Refi. Payment $3,716/mo*
Refinance Your Home
Currently Off Market - Sold Dec 8, 2022 for $275,000

Home Value

Trulia Estimate
$607K
Since last month
Decreased$10K (-1.6%)
Since last year
Increased$17K (+2.8%)
Since last sale
Increased$329K (+119.6%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value increased by +42% in the last 10 years
MonthEstimated value
2026
August 2026$604K
July 2026$614K
June 2026$617K
May 2026$609K
April 2026$601K
March 2026$598K
February 2026$588K
January 2026$581K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
1493 Inspiration Road, Ely, MN
0.26
Single-Family Home
$439,000
06/30/26
3
2
2,085
236 Ahola Rd, Ely, MN
1.73
Single-Family Home
$364,000
11/17/25
3
2
2,520
36 E Beacon Hill Rd, Ely, MN
1.86
Single-Family Home
$198,000
11/12/25
3
2
1,920
628 E Boundary St, Ely, MN
2.00
Single-Family Home
$230,000
09/10/25
3
2
1,644
647 E Boundary St, Ely, MN
2.02
Single-Family Home
$195,000
10/07/25
3
2
2,000
545 E Wilson St, Ely, MN
1.98
Single-Family Home
$220,000
04/15/26
3
2
1,544
638 E James St, Ely, MN
2.05
Single-Family Home
$230,000
05/01/26
3
1.5
1,350
712 E Pattison St, Ely, MN
2.10
Single-Family Home
$249,900
05/29/26
3
2
1,170
1419 E Chapman St, Ely, MN
2.32
Single-Family Home
$249,000
07/29/26
3
1.5
1,480
118 E James St, Ely, MN
2.21
Single-Family Home
$275,000
08/03/26
3
1
1,882

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
1493 Inspiration Road, Ely, MN 55731
0.26
$439,000
3
2
2,085
Recently Sold
Johnson Creek Dr, Ely, MN 55731
0.38
-
-
-
-
Off Market
xxx Old Hwy 1, Ely, MN 55731
0.49
-
-
-
-
Off Market
TBD Johnson Creek Dr, Ely, MN 55731
0.51
$65,900
-
-
-
For Sale
xxx Johnson Creek Rd, Ely, MN 55731
0.53
-
-
-
-
Off Market
TBD Johnson Creek Dr, Ely, MN 55731
0.51
-
-
-
-
Off Market
TBD N White Iron Rd, Ely, MN 55731
0.80
$179,000
-
-
-
For Sale
1365 S White Iron Rd, Ely, MN 55731
1.01
$525,000
3
1.5
3,240
For Sale
1245 Chippewa Shores, Ely, MN 55731
1.19
-
-
-
-
Off Market
1366 S White Iron Rd, Ely, MN 55731
1.23
$758,900
3
2.5
2,147
Off Market
1411 S White Iron Rd, Ely, MN 55731
1.24
$276,300
1
1
600
Off Market
- Johnson Creek Rd, Ely, MN 55731
1.28
-
-
-
-
Off Market

Local Information

  • Map ViewExplore the area around 2045 Highway 1.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Property Type
Single-Family Home
Year Built
1995
Lot Size
40 acres
Living Area
2,438 sqft
Price/Sqft
$249
Parking
Garage

About this House

Fabulous log home just 2+/- miles from Ely. This gorgeous hand-scribed log home sits on 40+/- acres that adjoin acres of state/federal land for privacy. One-level showcase home features 3 BR and 2 BA, has massive logs throughout, a large stone fireplace and cathedral ceiling in the great room. Other features include a large custom kitchen with lots of counter space and cabinets, a huge master BR & master BA w/ Jacuzzi tub, and walk-in closet. Also an office and large main floor laundry. There is a nice deck on the front and a large one on the back of the house that provides stunning views of the ponderosa ranch look-alike backyard that includes a landscaped pond w/ waterfall. Other buildings include a 40' x 30' insulated/heated garage, a 33' x 18.5' storage building, and a phenomenal 60' x 50' insulated workshop/garage w/ office heated with wirzbo in-floor heating. Could be used for a business or just for private use. You will love all this property has to offer! Brokered And Advertised By: Bear Island Land Co., Inc Listing Agent: Jeff Hway
2045 Highway 1, Ely, MN 55731 is a 3 bedroom, 2 bathroom, 2,438 sqft single-family home built in 1995. It last sold for $275,000 on Dec 8, 2022. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $606,800, with a rent estimate of $2,736/month.

Home Details for 2045 Highway 1

Interior Features

Interior Details
BasementCeiling Fan
Heating & Cooling
Heating: Radiant, OilAir ConditioningCooling System: CentralHeating Fuel: Radiant
Levels, Entrance, & Accessibility
Stories: 1
Appliances & Utilities
DishwasherDryerRefrigeratorWasher
Fireplace & Spa
Fireplace

Exterior Features

Exterior Home Features
Roof: AsphaltDeckExterior: Wood
Parking & Garage
GarageParking Spaces: 4Parking: Garage Detached

Property Information

Year Built
Year Built: 1995Year Updated: 1998
Property Type / Style
Property Type: Single Family HomeArchitecture: Log Cabin/Rustic

Community

Units in Building: 1

Lot Information

Lot Area: 40.00 acres

Price and Tax history

DateEventPrice
Dec 8, 2022
Source: N/A
Sold
$275,000
Nov 4, 2015
Source: N/A
Sold
$381,000
Aug 29, 2014
Source: Agent Provided
ListingRemoved
$459,000
Apr 17, 2014
Source: Agent Provided
Listed For Sale
$459,000
Jan 17, 2013
Source: Agent Provided
ListingRemoved
$545,000

Market trends in Ely

Last updated July 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
98
2MoM

Around this home

What Locals Say about Ely

At least 8 Trulia users voted on each feature.

  • 93 % Say there's wildlife

  • 90 % Say kids play outside

  • 89 % Say car is needed

  • 88 % Say parking is easy

  • 86 % Say it's quiet

  • 83 % Say yards are well-kept

  • 83 % Say it's dog friendly

  • 80 % Say there's holiday spirit

  • 78 % Say people would walk alone at night

  • 77 % Say it's walkable to restaurants

  • 75 % Say there are sidewalks

  • 73 % Say streets are well-lit

  • 72 % Say neighbors are friendly

  • 69 % Say it's walkable to grocery stores

  • 45 % Say there are community events

  • 36 % Say they plan to stay for at least 5 years

Sourced by Trulia users. Learn more about our methodology.
  • Mavericksells
    "Ely is surrounded by forests and it’s a lovely, peaceful place to reside. There are wonderful restaurants, shops, a great movie theater and a variety of outdoor activities to choose from year round. "
    0
    Flag
  • Derek H.
    "Ely is located at the end of the road. No roads go to much further north due to the boundary waters canoe area which strictly prohibits dwellings or any man made structures. Ely can seem like a long way from anywhere at times and the community recognizes this and most willing are willing to help whoever and whenever the need may arise. We take care of our own and then some . "
    7
    Flag
  • Jennifer P.
    "Don't move here if you don't like being out in the woods. ppl on this town take care of each other. even if you're new. as long as you show you want to be part of Ely. "
    0
    Flag
  • Jennifer P.
    "as a new comer to ely try to get into activities around town, especially if you have younger children who are not school age. jobs are not always easy to find and though the cost of living is fairly low you do money can get tight quickly. ely is a nice town but it's hard on you too. more work for less. your kids are safe here but still know who you're talking to before hand."
    3
    Flag
  • Rvhall
    "There is no public transport in this neighborhood , but Arrowhead transport does run in town for a nominal fee and there are weekly trips to Virginia Mn."
    0
    Flag
  • Lora L.
    "We have cab service and in town bus service. It’s a 25 block walk from first place in town to last. Generally, the city park,police,fire,library dot,and shopping district are within 8 blocks from anywhere."
    0
    Flag

LGBTQ Local Legal Protections

Frequently asked questions about 2045 Highway 1

  • What is 2045 Highway 1 estimated to be worth?
    Trulia's estimated value for 2045 Highway 1 in Ely, MN is $606,800.
  • What is the price history for 2045 Highway 1?
    2045 Highway 1 in Ely, MN last sold for $275,000 in December 2022.
  • Is Ely a buyer's or seller's market?
    Ely is currently a buyer's market, based on recent for-sale activity.
  • What do residents say about Ely?
    Residents describe Ely, MN as easy to park in, quiet, and well-kept. Most residents say you need a car. See recently sold homes in Ely, MN.
  • Does 2045 Highway 1 have air conditioning?
    Yes, 2045 Highway 1 in Ely, MN has air conditioning.
  • Does 2045 Highway 1 have laundry facilities?
    Yes, 2045 Highway 1 in Ely, MN has in-unit laundry.

Apartments for Rent

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Off Market Homes Near 2045 Highway 1

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