2889 Waters Is, Ely, MN 55731
Property image
Property image
FOR SALE
12.2 ACRES

2889 Waters Is
Ely, MN 55731

  • 3 Beds
  • 1 Bath
  • 1,122 sqft (on 12.20 acres)

$1,490,000

Est. Mortgage $9,025/mo*
Get Pre-Qualified

$1,490,000

Est. Mortgage $9,025/mo*
Get Pre-Qualified
3 Beds
1 Bath
1,122 sqft
(on 12.20 acres)
We estimate this home will sell faster than 98% nearby.

Home Highlights

Parking
None
HOA
None
Price/Sqft
$1,328
Listed
45 days ago
Climate Control
Baseboard Heating

Local Information

  • Map ViewExplore the area around 2889 Waters Is.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

Imagine owning your own private piece of paradise with over 10 acres on Waters Island with a staggering 2,000 feet of pristine shoreline on beautiful Burntside Lake and a rare offering of a separate 2+ acre mainland parcel with 210 feet of shoreline on Van Vac Road for convenient access and extra privacy provided by the massive, towering Pines. Between the Island, and Inland lot, you have two additional building sites AND a Cabin if you wanted to separate the parcels. Wrapped in rustic rough cedar siding, it sits perfectly on the island with breathtaking sunrise views greeting you each day, sitting where an original trappers shack was located. You have 3 docks and 2 additional buildable lots. The 3rd dock in on the 4-acre western parcel on the island and features two benches hand made from fallen trees, one overlooks the west view, and one overlooks the east view. In the cabin, you have cozy window seats line the living room, inviting you to soak in the vast lake views. Upstairs, the loft features beds tucked into the eaves for max space, with two more bedrooms on the main floor. Open floor plan hosts the living room, dining and kitchen all overlooking Burntside. And don't forget the Sauna! Spend your days exploring the island’s wooded trails and picking fresh wild blueberries. Modern conveniences are already in place: power, internet, septic system... Handy shed stores all your lakeside necessities. True legacy property that is being offered for the first time. Whether you’re seeking a peaceful family retreat, a hunting and fishing basecamp, or a private island getaway, look no further. It's time to start living your dreams today.
Last check for updates: about 12 hours ago
Listing courtesy of Andrea Zupancich, (218) 749-0159
Z'Up North Realty, Inc.
Source: NorthstarMLS as distributed by MLS GRID, MLS#7105212
Also Listed on NorthstarMLS as distributed by MLS GRID.
We estimate this home will sell faster than 98% nearby.

Home Details for 2889 Waters Is

Active Status

MLS Status: Active

Interior Features

Interior Details
Basement: NoneNumber of Rooms: 7Types of Rooms: Bedroom, Bedroom 2, Bathroom, Kitchen, Living Room, Loft, Sauna
Beds & Baths
Number of Bedrooms: 3Number of Bathrooms: 1Number of Bathrooms (full): 1
Dimensions and Layout
Living Area: 1122 Square FeetFoundation Area: 1122
Appliances & Utilities
Appliances: Range, RefrigeratorRefrigerator
Heating & Cooling
Heating: BaseboardNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Baseboard
Fireplace & Spa
No Fireplace
Gas & Electric
Electric: 100 Amp Service, Power Company: Lake Country PowerGas: Electric
Levels, Entrance, & Accessibility
Stories: 1Levels: OneAccessibility: None
View
No View

Exterior Features

Exterior Home Features
Roof: Asphalt
Parking & Garage
No CarportNo GarageNo Attached GarageParking: None
Frontage
WaterfrontWaterfront: Lake FrontOn Waterfront
Water & Sewer
Sewer: Private Sewer
Farm & Range
Frontage Length: Water Frontage: 2265
Finished Area
Finished Area (above surface): 1122 Square Feet

Days on Market

Days on Market: 45

Property Information

Year Built
Year Built: 1978
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family
Building
Construction Materials: FrameNot a New ConstructionNot Attached PropertyHas Additional Parcels
Property Information
Parcel Number: 465004003392Additional Parcels Description: 465004003239, 465004003235, 465004003394, 465004003504

Price & Status

Price
List Price: $1,490,000Price Per Sqft: $1,328

Location

Direction & Address
City: ElyCommunity: Morse Town Of
School Information
High School District: Ely

Agent Information

Listing Agent
Listing ID: 7105212

Building

Building Area
Building Area: 1122 Square Feet

HOA

No HOAHOA Fee: No HOA Fee

Lot Information

Lot Area: 12.2 Acres

Offer

Contingencies: None

Miscellaneous

Mls Number: 7105212Above Grade Unfinished Area: 1122

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

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

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
2796 Clayton Rd, Ely, MN
1.79
Single-Family Home
$665,000
01/30/26
3
2
1,296
2375 Viste Point Rd, Ely, MN
2.67
Single-Family Home
$900,000
04/01/26
3
2
2,706
3422 North Arm Rd, Ely, MN
3.16
Single-Family Home
$1,075,000
02/13/26
3
2
2,862
2263 Longstorff Rd, Ely, MN
3.71
Single-Family Home
$510,000
10/06/25
3
2
1,581
1984 Grant McMahan Blvd, Ely, MN
4.36
Single-Family Home
$614,000
08/29/25
3
1
912
1984 Grant McMahan Blvd #1984, Ely, MN
4.38
Single-Family Home
$614,000
08/29/25
3
1
912
1995 Pine Tree Tr, Ely, MN
4.34
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
TBD Waters Island, Ely, MN 55731
0.21
$945,000
-
-
-
For Sale
X Waters Island, Ely, MN 55731
0.31
$1,585,000
6
3.5
2,146
For Sale
2928 Waters Island, Ely, MN 55731
0.37
$2,450,000
6
3.5
2,146
For Sale
2823 Moroni Point Rd, Ely, MN 55731
0.44
$745,000
2
0.5
1,175
Off Market
2969 Van Vac Rd, Ely, MN 55731
0.52
-
-
-
-
Off Market
- BURNTSIDE LAKE, Ely, MN 55731
0.55
-
-
-
-
Off Market
2763 Van Vac Rd, Ely, MN 55731
0.77
$1,490,000
3
1
1,122
For Sale
2740 Glendaloch Rd, Ely, MN 55731
0.82
$1,024,500
3
2
2,280
Off Market
2921 Lost Girl Is, Ely, MN 55731
1.24
$282,200
1
-
500
Off Market
2657 Van Vac Rd, Ely, MN 55731
1.31
$475,100
2
2
1,600
Off Market

Price and Tax history

DateEventPrice
Jul 7, 2026
Source: NorthstarMLS as distributed by MLS GRID #7105212
Listed For Sale
$1,490,000

LGBTQ Local Legal Protections

Andrea Zupancich, Z'Up North Realty, Inc.
Agent Phone: (218) 749-0159
Based on information submitted to the MLS GRID as of 2026-08-21 12:38:20 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
By searching NorthstarMLS listings you agree to the NorthstarMLS End User License Agreement

Similar Homes You May Like

Skip to last item
Skip to first item

New Listings near 2889 Waters Is

Skip to last item
Skip to first item

Frequently asked questions about 2889 Waters Is

  • What is the estimated monthly payment for 2889 Waters Is?
    Based on a $1,490,000 list price with 20% down at today's rates, the estimated monthly payment for 2889 Waters Is in Ely, MN is approximately $9,228 (about $7,824 principal & interest, $1,329 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
  • 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 homes for sale in Ely, MN.
  • What are the closest schools to 2889 Waters Is?
    The closest schools to 2889 Waters Is in Ely, MN are Memorial Middle School (rated 7/10), Memorial Secondary (High, rated 9/10), Washington Elementary School (Pre-K, rated 6/10).
  • How big is the lot at 2889 Waters Is?
    The lot at 2889 Waters Is in Ely, MN is about 12.2 acres.
2889 Waters Is, Ely, MN 55731 is a 3 bedroom, 1 bathroom, 1,122 sqft single-family home built in 1978. This property is currently available for sale and was listed by NorthstarMLS as distributed by MLS GRID on Jul 7, 2026. The MLS # for this home is MLS# 7105212.