2397 Reed Rd, Ely, MN 55731
OFF MARKET

$466,300

Trulia Estimate
  • 3 Beds
  • 3 Baths
  • 588 sqft (on 7.40 acres)

2397 Reed Rd, Ely, MN 55731

Est. Refi. Payment $2,948/mo*
Refinance Your Home
Currently Off Market - Sold Apr 3, 2024 for $855,000

Home Value

Learn more about this home's value by checking out the value of nearby homes and how much similar homes have sold for.

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
2445 Reed Rd, Ely, MN
0.28
Single-Family Home
$770,000
09/25/26
4
3
4,872
3009 Burntside Ridge Rd, Ely, MN
0.62
Single-Family Home
$729,000
09/18/26
2
1
773
3003 Burntside Ridge Rd, Ely, MN
0.58
Single-Family Home
$850,000
09/25/26
3
1
1,560
2796 Clayton Rd, Ely, MN
0.99
Single-Family Home
$665,000
01/30/26
3
2
1,296
2022 Rockwood Way, Ely, MN
1.61
Single-Family Home
$559,000
08/24/26
4
4
2,016
2230 Passi Rd, Ely, MN
1.30
Single-Family Home
$600,000
07/23/26
2
1
1,008
1918 Pine Tree Tr, Ely, MN
1.98
Single-Family Home
$1,078,500
01/13/26
4
3
4,300
1875 Echo Tr, Ely, MN
2.00
Single-Family Home
$425,000
10/22/26
2
2
1,260
1883 Lindbeck Rd, Ely, MN
2.18
Single-Family Home
$725,000
01/12/26
4
4
2,628
2050 Shipman Island, Ely, MN
1.85
Single-Family Home
$290,000
08/12/26
2
-
560

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
2395 Reed Rd, Ely, MN 55731
0.05
$758,100
3
2
1,199
Off Market
2365 Reed Rd, Ely, MN 55731
0.06
-
-
-
-
Off Market
2391 Reed Rd, Ely, MN 55731
0.10
$1,257,300
4
2
1,152
Off Market
Reed Rd, Ely, MN 55731
0.15
-
-
-
-
Off Market
2245 Reed Rd, Ely, MN 55731
0.20
-
-
-
-
Off Market
2399 Reed Rd, Ely, MN 55731
0.21
$906,400
Studio
-
1,085
Off Market
2411 Reed Rd, Ely, MN 55731
0.22
$475,400
1
-
480
Off Market
2433 Reed Rd, Ely, MN 55731
0.22
$834,300
2
-
600
Off Market
2403 Reed Rd, Ely, MN 55731
0.25
$694,000
2
1
1,168
Off Market
2445 Reed Rd, Ely, MN 55731
0.28
$770,000
4
3
4,872
Recently Sold
2337 Reed Rd, Ely, MN 55731
0.29
$1,599,300
4
3
1,747
Off Market
2948 Miller Is, Ely, MN 55731
0.32
$901,500
3
2
1,600
Off Market
2446 Reed Rd, Ely, MN 55731
0.37
$526,900
3
2
1,812
Off Market
2446 Reed Rd, Ely, MN 55731
0.37
$398,600
2
3
912
Off Market
2447 Reed Rd, Ely, MN 55731
0.42
$607,400
2
1
964
Off Market
2340 Reed Ln, Ely, MN 55731
0.42
$899,800
2
2
979
Off Market
2340 Reed Ln, Ely, MN 55731
0.42
-
-
-
-
Off Market
2348 Reed Rd, Ely, MN 55731
0.45
-
-
-
-
Off Market
2377 Reed Ln, Ely, MN 55731
0.46
$611,800
2
1
960
Off Market
2983 Burntside Ridge Trl, Ely, MN 55731
0.48
$182,200
Studio
-
-
Off Market

Local Information

  • Map ViewExplore the area around 2397 Reed Rd.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 2025
7.4 acre lot
588 sqft
$793/sqft
Garage

About this House

This single-family home is located at 2397 Reed Rd, Ely, MN. 2397 Reed Rd is in Ely, MN and in ZIP code 55731. This property has 3 bedrooms, 3 bathrooms and approximately 588 sqft of floor space. This property has a lot size of 7.40 acres and was built in 2025.
2397 Reed Rd, Ely, MN 55731 is a 3 bedroom, 3 bathroom, 588 sqft single-family home built in 2025. It last sold for $855,000 on Apr 3, 2024. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $466,300, with a rent estimate of $1,885/month.

Home Details for 2397 Reed Rd

Property Information

Year Built
Year Built: 2025
Property Type / Style
Property Type: Single Family Home

Interior Features

Heating & Cooling
Air ConditioningCooling System: Central
Fireplace & Spa
Fireplace

Exterior Features

Exterior Home Features
Foundation Type: Piers
Parking & Garage
GarageParking: Garage Detached

Lot Information

Lot Area: 7.40 acres

Building

Pool
Sauna

Price and Tax history

DateEventPrice
Apr 3, 2024
Source: N/A
Sold
$855,000

Market trends in Ely

Last updated October 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
98
3MoM
Sourced by Trulia Market Trends

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 2397 Reed Rd

  • What is 2397 Reed Rd estimated to be worth?
    Trulia's estimated value for 2397 Reed Rd in Ely, MN is $466,300.
  • What is the price history for 2397 Reed Rd?
    2397 Reed Rd in Ely, MN last sold for $855,000 in April 2024.
  • Is Ely a buyer's or seller's market?
    Ely is currently a seller'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 2397 Reed Rd have air conditioning?
    Yes, 2397 Reed Rd in Ely, MN has air conditioning.
  • How big is the lot at 2397 Reed Rd?
    The lot at 2397 Reed Rd in Ely, MN is about 7.4 acres.

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