2721 Olson Bay Trl, Ely, MN 55731
OFF MARKET

$716,500

Trulia Estimate
  • 3 Beds
  • 2 Baths
  • 1,562 sqft (on 1.90 acres)

2721 Olson Bay Trl, Ely, MN 55731

Est. Refi. Payment $4,636/mo*
Refinance Your Home

Home Value

Trulia Estimate
$717K
Since last month
Decreased$42K (-5.5%)
Since last year
Increased$21K (+3.1%)
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 +9% in the last 10 years
MonthEstimated value
2026
October 2026$719K
September 2026$761K
August 2026$750K
July 2026$754K
June 2026$738K
May 2026$716K
April 2026$692K
March 2026$675K
February 2026$682K
January 2026$653K
2025
2024
2023

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
1.25
Single-Family Home
$665,000
01/30/26
3
2
1,296
3003 Burntside Ridge Rd, Ely, MN
1.20
Single-Family Home
$850,000
09/25/26
3
1
1,560
2445 Reed Rd, Ely, MN
0.85
Single-Family Home
$770,000
09/25/26
4
3
4,872
2022 Rockwood Way, Ely, MN
1.22
Single-Family Home
$559,000
08/24/26
4
4
2,016
3009 Burntside Ridge Rd, Ely, MN
1.23
Single-Family Home
$729,000
09/18/26
2
1
773
2050 Shipman Island, Ely, MN
1.13
Single-Family Home
$290,000
08/12/26
2
-
560
1852 Grant McMahan Blvd, Ely, MN
1.89
Single-Family Home
$880,000
05/06/26
3
2
2,460
1883 Lindbeck Rd, Ely, MN
2.22
Single-Family Home
$725,000
01/12/26
4
4
2,628
1918 Pine Tree Tr, Ely, MN
1.96
Single-Family Home
$1,078,500
01/13/26
4
3
4,300
2230 Passi Rd, Ely, MN
1.93
Single-Family Home
$600,000
07/23/26
2
1
1,008

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
2727 Olson Bay Trl, Ely, MN 55731
0.04
-
Studio
-
-
Off Market
2279 Grant McMahan Blvd, Ely, MN 55731
0.20
$952,300
3
2
294
Off Market
2279 Grant McMahan Blvd, Ely, MN 55731
0.20
-
-
-
-
Off Market
2279 Grant McMahan Blvd, Ely, MN 55731
0.20
$210,200
Studio
-
732
Off Market
2345 Grant McMahan Blvd, Ely, MN 55731
0.21
-
Studio
-
-
Off Market
2345 Grant McMahan Blvd, Ely, MN 55731
0.21
$283,300
3
2
924
Off Market
2255 Grant McMahan Blvd, Ely, MN 55731
0.23
-
3
2
1,144
Off Market
2245 Grant McMahan Blvd, Ely, MN 55731
0.26
$345,900
2
2
1,232
Off Market
2241 Grant McMahan Blvd, Ely, MN 55731
0.29
$453,900
2
2
2,156
Off Market
2237 Grant McMahan Blvd, Ely, MN 55731
0.31
$402,200
-
-
2,688
Off Market
2231 Grant McMahan Blvd, Ely, MN 55731
0.34
$301,600
3
1
864
Off Market
2381 Grant McMahan Blvd, Ely, MN 55731
0.38
$248,700
2
1
576
Off Market
xxx Grant McMahan Blvd, Ely, MN 55731
0.39
-
-
-
-
Off Market
2920 Burntside Ridge Rd, Ely, MN 55731
0.39
$291,800
3
1
1,092
Off Market
Grant McMahan Blvd, Ely, MN 55731
0.42
-
-
-
-
Off Market
2935 Burntside Ridge Rd, Ely, MN 55731
0.48
$358,800
2
1
960
Off Market
3132 BURNTSIDE RIDGE RD, Ely, MN 55731
0.49
$659,100
2
-
572
Off Market
Burntside Ridge Rd, Ely, MN 55731
0.49
-
-
-
-
Off Market
2382 Grant McMahan Blvd, Ely, MN 55731
0.50
$415,800
3
2
1,236
Off Market
2926 Burntside Ridge Rd, Ely, MN 55731
0.53
$172,900
Studio
-
-
Off Market

Local Information

  • Map ViewExplore the area around 2721 Olson Bay Trl.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 2008
1.9 acre lot
1,562 sqft
$459/sqft

About this House

This single-family home is located at 2721 Olson Bay Trl, Ely, MN. 2721 Olson Bay Trl is in Ely, MN and in ZIP code 55731. This property has 3 bedrooms, 2 bathrooms and approximately 1,562 sqft of floor space. This property has a lot size of 1.90 acres and was built in 2008.
2721 Olson Bay Trl, Ely, MN 55731 is a 3 bedroom, 2 bathroom, 1,562 sqft single-family home built in 2008. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $716,500, with a rent estimate of $1,833/month.

Home Details for 2721 Olson Bay Trl

Interior Features

Interior Details
Basement
Levels, Entrance, & Accessibility
Stories: 1
Heating & Cooling
Air ConditioningCooling System: Central
Fireplace & Spa
Fireplace

Property Information

Year Built
Year Built: 2008
Property Type / Style
Property Type: Single Family HomeArchitecture: Ranch / Rambler

Exterior Features

Exterior Home Features
Deck

Community

Units in Building: 1

Lot Information

Lot Area: 1.90 acres

Price and Tax history

YearProperty taxTax assessment
2026
$5,662
$639,300
Home facts updated by county records

Market trends in Ely

Last updated September 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
100
3MoM
Sourced by Trulia Market Trends

Around this home

What Locals Say about Ely

This October

Trick-or-Treat Score

Built from what locals say about this neighborhood.
  • 80% say there's holiday spirit
  • 75% say there are sidewalks
  • 72% say neighbors are friendly
Trulia Trick or TreatStart Ghost Hunt
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 2721 Olson Bay Trl

  • What is 2721 Olson Bay Trl estimated to be worth?
    Trulia's estimated value for 2721 Olson Bay Trl in Ely, MN is $716,500.
  • 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.
  • What are the closest schools to 2721 Olson Bay Trl?
    The closest schools to 2721 Olson Bay Trl in Ely, MN are Memorial Middle School (rated 7/10), Memorial Secondary (High, rated 9/10), Washington Elementary School (Pre-K, rated 6/10).
  • Does 2721 Olson Bay Trl have air conditioning?
    Yes, 2721 Olson Bay Trl in Ely, MN has air conditioning.
  • How big is the lot at 2721 Olson Bay Trl?
    The lot at 2721 Olson Bay Trl in Ely, MN is about 1.9 acres.

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