2928 Waters Island, Ely, MN 55731
Property image
Property image
FOR SALE
20.9 ACRES

2928 Waters Island
Ely, MN 55731

  • 6 Beds
  • 3.5 Baths
  • 2,146 sqft (on 20.90 acres)

$2,450,000

Est. Mortgage $14,778/mo*
Get Pre-Qualified

$2,450,000

Est. Mortgage $14,778/mo*
Get Pre-Qualified
6 Beds
3.5 Baths
2,146 sqft
(on 20.90 acres)

Home Highlights

Outdoor
Deck
Climate Control
Baseboard, Wood, Electric & Central Air
Price/Sqft
$1,142
Listed
180+ days ago

Local Information

  • Map ViewExplore the area around 2928 Waters Island.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

There is no other property on iconic Burntside Lake like this one! Welcome to Aurora Waters, a one of a kind, landmark home on a spectacular island! This is a magical property: 5 hand crafted cabins and 4 exotic Yurts spread through an enchanted, open forest of 20.9 acres with 2,140 feet of sunny, southern facing shoreline. Towering Norway pines and high granite bluffs offer shimmering island studded views across the vast, main body of the lake to the legendary Boundary Waters Wilderness, world famous for canoe trips. Catch giant lake trout in the 120’ clear, spring fed depths in front of your dock, and sauna and swim under the shimmer of the Northern Lights. Bald eagles and deer abound. Loons call in the still twilight, and the stars are bright and close. Waters Island is the largest, most central island on Burntside and Aurora’s neighboring forest is held in a Land Trust. It’s the ultimate in seclusion and privacy, yet easily accessible via a nearby dock (included). There is a flat, spacious parking area with a level, hundred yard driveway to the Eastern Van Vac Road. Just seven paved miles to the charming frontier town of Ely with its cafes, restaurants, canoe outfitters and shopping. 40 minutes to the Hibbing Airport. Something like this will never come up for sale on Burntside again. Invest in a legacy property and a rare sanctuary in these turbulent times. Visit soon!
Last check for updates: 37 minutes ago
Listing courtesy of Lisa Janisch, (218) 780-6644
Janisch Realty Inc.
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6114501
Also Listed on NorthstarMLS as distributed by MLS GRID, NorthstarMLS as distributed by MLS GRID, Lake Superior Area Realtors as distributed by MLS GRID.

Home Details for 2928 Waters Island

Interior Features

Interior Details
Basement: N/ANumber of Rooms: 9Types of Rooms: Bedroom, Dining Room, Family Room, Kitchen, Living Room
Beds & Baths
Number of Bedrooms: 6Main Level Bedrooms: 1Number of Bathrooms: 4Number of Bathrooms (full): 2Number of Bathrooms (three quarters): 1Number of Bathrooms (half): 1
Dimensions and Layout
Living Area: 2146 Square Feet
Appliances & Utilities
Appliances: Water Heater-Electric, Dishwasher, Dryer, Exhaust Fan, Microwave, Range, Refrigerator, WasherDishwasherDryerMicrowaveRefrigeratorWasher
Heating & Cooling
Heating: Baseboard,Wood,ElectricHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Baseboard
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Wood BurningHas a Fireplace
Gas & Electric
Electric: Lake Country Power
Windows, Doors, Floors & Walls
Flooring: Hardwood Floors, Tiled Floors
Levels, Entrance, & Accessibility
Number of Stories: 1Floors: Hardwood Floors, Tiled Floors
View
Has a ViewView: Inland Lake, Panoramic

Exterior Features

Exterior Home Features
Roof: Asphalt ShinglePatio / Porch: DeckOther Structures: Gazebo, Sauna, Storage Shed, BunkhouseExterior: Dock, Rain GuttersFoundation: Rock
Parking & Garage
No CarportNo GarageNo Attached GarageParking: Gravel,None
Frontage
WaterfrontWaterfront: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Rocky)On Waterfront
Water & Sewer
Sewer: Private SewerWater Body: Burntside
Farm & Range
Frontage Length: 2140
Finished Area
Finished Area (above surface): 2146 Square Feet

Days on Market

Cumulative Days on Market: 750Days on Market: 180+

Property Information

Year Built
Year Built: 1997
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Ranch
Building
Construction Materials: Wood, Frame/Wood
Property Information
Condition: Previously OwnedParcel Number: 465004003236, 03238

Price & Status

Price
List Price: $2,450,000Price Per Sqft: $1,142
Status Change & Dates
Possession Timing: Close Of Escrow

Active Status

MLS Status: ACTIVE

Location

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

Agent Information

Listing Agent
Listing ID: 6114501

HOA

No HOA

Lot Information

Lot Area: 20.9 Acres

Offer

Listing Terms: Cash, Conventional

Miscellaneous

BasementMls Number: 6114501Water ViewWater View: LakeAttribution Contact: ***Above Grade Unfinished Area: 2146

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
2.11
Single-Family Home
$665,000
01/30/26
3
2
1,296
2375 Viste Point Rd, Ely, MN
2.64
Single-Family Home
$900,000
04/01/26
3
2
2,706
3422 North Arm Rd, Ely, MN
2.98
Single-Family Home
$1,075,000
02/13/26
3
2
2,862
2263 Longstorff Rd, Ely, MN
4.08
Single-Family Home
$510,000
10/06/25
3
2
1,581
1995 Pine Tree Tr, Ely, MN
4.64
Single-Family Home
$489,400
10/03/25
2
1
911
2050 Shipman Island, Ely, MN
4.47
Single-Family Home
$290,000
08/12/26
2
-
560
2151 Echo Tr, Ely, MN
4.80
Single-Family Home
$135,000
12/05/25
1
-
480

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
X Waters Island, Ely, MN 55731
0.09
$1,585,000
6
3.5
2,146
For Sale
TBD Waters Island, Ely, MN 55731
0.17
$945,000
-
-
-
For Sale
2889 Waters Is, Ely, MN 55731
0.37
$1,490,000
3
1
1,122
For Sale
2969 Van Vac Rd, Ely, MN 55731
0.56
-
-
-
-
Off Market
2740 Glendaloch Rd, Ely, MN 55731
0.67
$1,024,500
3
2
2,280
Off Market
2823 Moroni Point Rd, Ely, MN 55731
0.80
$738,000
2
0.5
1,175
Off Market
- BURNTSIDE LAKE, Ely, MN 55731
0.85
-
-
-
-
Off Market
TBD Burntside Lake Island, Ely, MN 55731
1.13
$175,000
-
-
-
Recently Sold
2763 Van Vac Rd, Ely, MN 55731
1.15
$1,490,000
3
1
1,122
For Sale
2921 Lost Girl Is, Ely, MN 55731
1.42
$276,400
1
-
500
Off Market

Price and Tax history

DateEventPrice
Jun 25, 2024
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114501
Listed For Sale
$2,450,000

LGBTQ Local Legal Protections

Lisa Janisch, Janisch Realty Inc.
Agent Phone: (218) 780-6644
Based on information submitted to the MLS GRID as of 2026-08-19 07:47:25 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

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Frequently asked questions about 2928 Waters Island

  • What is the estimated monthly payment for 2928 Waters Island?
    Based on a $2,450,000 list price with 20% down at today's rates, the estimated monthly payment for 2928 Waters Island in Ely, MN is approximately $15,108 (about $12,848 principal & interest, $2,185 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 2928 Waters Island?
    The closest schools to 2928 Waters Island 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 2928 Waters Island have air conditioning?
    Yes, 2928 Waters Island in Ely, MN has air conditioning.
  • Does 2928 Waters Island have laundry facilities?
    Yes, 2928 Waters Island in Ely, MN has in-unit laundry.
  • How big is the lot at 2928 Waters Island?
    The lot at 2928 Waters Island in Ely, MN is about 20.9 acres.
2928 Waters Island, Ely, MN 55731 is a 6 bedroom, 4 bathroom, 2,146 sqft single-family home built in 1997. This property is currently available for sale and was listed by Lake Superior Area Realtors as distributed by MLS GRID on Jun 25, 2024. The MLS # for this home is MLS# 6114501.