2445 Reed Rd, Ely, MN 55731
Property image
Property image
SOLD
SEP 25, 2026

$770,200

Trulia Estimate
  • 4 Beds
  • 3 Baths
  • 4,872 sqft (on 5.50 acres)

2445 Reed Rd, Ely, MN 55731

Est. Refi. Payment $5,049/mo*
Refinance Your Home
Currently Off Market - Sold Sep 25, 2026 for $770,000 (23% below list price)

Home Value

Trulia Estimate
$770K
Since last month
Decreased$147K (-16%)
Since last year
Decreased$336K (-30.4%)
Since last sale
$300 (0%)
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 +8% in the last 10 years
MonthEstimated value
2026
September 2026$770K
September 2026$770K
August 2026$917K
July 2026$929K
June 2026$940K
May 2026$1.05M
April 2026$1.03M
March 2026$1.04M
February 2026$1.03M
January 2026$1.03M
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
2796 Clayton Rd, Ely, MN
0.72
Single-Family Home
$665,000
01/30/26
3
2
1,296
3003 Burntside Ridge Rd, Ely, MN
0.86
Single-Family Home
$850,000
09/25/26
3
1
1,560
3009 Burntside Ridge Rd, Ely, MN
0.90
Single-Family Home
$729,000
09/18/26
2
1
773
1918 Pine Tree Tr, Ely, MN
2.20
Single-Family Home
$1,078,500
01/13/26
4
3
4,300
1883 Lindbeck Rd, Ely, MN
2.42
Single-Family Home
$725,000
01/12/26
4
4
2,628
1875 Echo Tr, Ely, MN
2.28
Single-Family Home
$450,000
08/03/26
2
2
1,260
1995 Pine Tree Tr, Ely, MN
1.88
Single-Family Home
$489,400
10/03/25
2
1
911

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
2403 Reed Rd, Ely, MN 55731
0.04
$687,000
2
1
1,168
Off Market
2411 Reed Rd, Ely, MN 55731
0.09
$490,900
1
-
480
Off Market
2446 Reed Rd, Ely, MN 55731
0.09
$525,700
3
2
1,812
Off Market
2446 Reed Rd, Ely, MN 55731
0.09
$356,500
2
3
912
Off Market
2433 Reed Rd, Ely, MN 55731
0.12
$850,000
2
-
600
Off Market
2399 Reed Rd, Ely, MN 55731
0.13
-
Studio
-
1,085
Off Market
2447 Reed Rd, Ely, MN 55731
0.14
$628,600
2
1
964
Off Market
2867 Schaeffer Rd, Ely, MN 55731
0.24
$483,900
2
1
1,000
Off Market
2865 Schaeffer Rd, Ely, MN 55731
0.25
$587,000
2
1
700
Off Market
2365 Reed Rd, Ely, MN 55731
0.26
-
-
-
-
Off Market
2863 Schaeffer Rd, Ely, MN 55731
0.27
$418,700
2
1
480
Off Market
2857 Schaeffer Rd, Ely, MN 55731
0.28
$358,800
2
-
420
Off Market
2948 Miller Is, Ely, MN 55731
0.31
$949,200
3
2
1,600
Off Market
2395 Reed Rd, Ely, MN 55731
0.32
$797,700
3
2
1,199
Off Market
2839 Schaeffer Rd, Ely, MN 55731
0.34
$341,800
Studio
-
-
Off Market
Reed Rd, Ely, MN 55731
0.34
-
-
-
-
Off Market
2837 Schaeffer Rd, Ely, MN 55731
0.35
$692,500
3
2
1,255
Off Market
2835 Schaeffer Rd, Ely, MN 55731
0.36
$2,395,500
5
3
3,307
Off Market
2391 Reed Rd, Ely, MN 55731
0.38
$1,313,800
4
2
1,152
Off Market
2833 Schaeffer Rd, Ely, MN 55731
0.38
$1,192,500
3
2
950
Off Market

Local Information

  • Map ViewExplore the area around 2445 Reed Rd.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 1996
5.5 acre lot
4,872 sqft
$158/sqft
Garage

About this House

What's unique:Lots of additional spaceFlexible living arrangements
Burntside Lake Retreat – 5.5 Acres with Sandy Shoreline in Highly Sought-After Ely, MN Location! Welcome to a truly rare opportunity on the legendary Burntside Lake, known for its crystal-clear waters, dramatic scenery, and exceptional recreational quality. This year-round Northwoods retreat is set on 5.5 acres with towering pines, privacy, and one of the most desirable sandy, west-facing shorelines on the lake—perfect for swimming, sunbathing, and unforgettable sunsets. The expansive 4,872 sq ft home is as unique as the setting itself, offering three separate yet connected living areas under one roof. Each section includes its own kitchen, bathroom, and living room, allowing for flexible living arrangements—ideal for hosting family, friends, or multi-generational use. These spaces can be opened up for large gatherings or closed off for added privacy. In total, the home features 4 bedrooms, 3 bathrooms, 3 full kitchens and lots of additional space. Tucked just off the main home is a charming 16’ x 24’ dry guest cabin, surrounded by woods and perfect for additional guests, creative space, or quiet retreat. Located on one of the most coveted stretches of Burntside Lake, this property offers the best of lake life in a peaceful and community-focused environment. Burntside is one of Minnesota’s most sought-after lakes—celebrated for its clean waters, stunning shoreline, and proximity to the Boundary Waters Canoe Area Wilderness and Ely’s vibrant community. This is more than a home—it’s a legacy property in a premier location.
2445 Reed Rd, Ely, MN 55731 is a 4 bedroom, 3 bathroom, 4,872 sqft single-family home built in 1996. It last sold for $770,000 on Sep 25, 2026 (23% below the $995,000 asking price). This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $770,200, with a rent estimate of $3,529/month.
Last check for updates: 1 day ago
Listed by Lori Schulze, (218) 343-1787
Keller Williams Classic Realty NW - Ely
Heather Franciskovich, (218) 235-3895
Keller Williams Classic Realty NW - Ely
Bought with: Lori Schulze, (218) 343-1787, Keller Williams Classic Realty NW - Ely
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6124998

Home Details for 2445 Reed Rd

Interior Features

Interior Details
Basement: Partial,Egress Windows,Finished,Partially Finished,Walkout,Bath,Bedrooms,Family/Rec Room,KitchenNumber of Rooms: 12Types of Rooms: Bedroom, Bonus Room, Entry Hall, Great Room, Kitchen, Laundry, Living Room
Beds & Baths
Number of Bedrooms: 4Number of Bathrooms: 3Number of Bathrooms (three quarters): 3
Dimensions and Layout
Living Area: 4872 Square FeetFoundation Area: 3248
Appliances & Utilities
Laundry: Main Level
Heating & Cooling
Heating: Baseboard,Dual Fuel/Off Peak,Fireplace(s),Radiant,Wood,ElectricHas HeatingHeating Fuel: Baseboard
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Wood BurningHas a Fireplace
Gas & Electric
Electric: Lake Country Power
Levels, Entrance, & Accessibility
Number of Stories: 1
View
Has a ViewView: Inland Lake

Exterior Features

Exterior Home Features
Roof: Asphalt ShinglePatio / Porch: DeckOther Structures: Greenhouse, Screenhouse, Storage Shed, Guest House, OtherExterior: DockFoundation: Concrete Perimeter
Parking & Garage
Number of Garage Spaces: 1Number of Covered Spaces: 1No CarportHas a GarageNo Attached GarageParking Spaces: 1Parking: Gravel,Detached
Frontage
WaterfrontWaterfront: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Sand, Shore-Accessible, Shore-Beach, Shore-Vegetation)Road Frontage: Private RoadResponsible for Road Maintenance: Association Maintained Road, Private Maintained RoadOn Waterfront
Water & Sewer
Sewer: Private SewerWater Body: Burntside
Farm & Range
Frontage Length: 215
Finished Area
Finished Area (above surface): 3248 Square FeetFinished Area (below surface): 1624 Square Feet

Days on Market

Cumulative Days on Market: 80

Property Information

Year Built
Year Built: 1996
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Ranch
Building
Construction Materials: Wood, Frame/Wood
Property Information
Parcel Number: 465004900040

Price & Status

Price
List Price: $995,000Price Per Sqft: $158/sqft
Status Change & Dates
Off Market Date: Fri Jul 24 2026Possession Timing: Close Of Escrow

Active Status

MLS Status: SOLD

Location

Direction & Address
City: Ely
School Information
High School District: Ely #696

HOA

No HOA

Lot Information

Lot Area: 5.5 Acres

Offer

Listing Terms: Cash, Conventional

Miscellaneous

BasementMls Number: 6124998Water ViewWater View: LakeAttribution Contact: ***Above Grade Unfinished Area: 3248

Price and Tax history

DateEventPrice
Sep 25, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124998
Sold
$770,000
Aug 31, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124998
Pending
$995,000
Jun 6, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124998
PriceChange
$995,000
Price decreased by 9%
May 5, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124998
Listed For Sale
$1,095,000
Dec 4, 2025
Source: Lake Superior Area Realtors as distributed by MLS GRID #6119844
ListingRemoved
$1,095,000

Market trends in Ely

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
103
5MoM

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

Based on information submitted to the MLS GRID as of 2026-10-02 10:52:28 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information

Frequently asked questions about 2445 Reed Rd

  • What is 2445 Reed Rd estimated to be worth?
    Trulia's estimated value for 2445 Reed Rd in Ely, MN is $770,200.
  • What is the price history for 2445 Reed Rd?
    2445 Reed Rd in Ely, MN last sold for $770,000 in September 2026.
  • 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 2445 Reed Rd have laundry facilities?
    Yes, 2445 Reed Rd in Ely, MN has laundry facilities.
  • How big is the lot at 2445 Reed Rd?
    The lot at 2445 Reed Rd in Ely, MN is about 5.5 acres.

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