3206 Shady Rest, Ely, MN 55731
Property image
Property image
OFF MARKET

3206 Shady Rest
Ely, MN 55731

  • 2 Beds
  • 2 Baths
  • 1,768 sqft (on 2.69 acres)

$725,500

Trulia Estimate
as of Aug 24, 2026
Est. Refi. Payment $4,429/mo*
Refinance Your Home

$725,500

Trulia Estimate
as of Aug 24, 2026
Est. Refi. Payment $4,429/mo*
Refinance Your Home
2 Beds
2 Baths
1,768 sqft
(on 2.69 acres)

Home Value

Trulia Estimate
$726K
Since last month
Decreased$3K (-0.4%)
Since last year
Increased$3K (+0.4%)
Since last sale
Increased$13K (+1.8%)
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 0% in the last 10 years
MonthEstimated value
2026
August 2026$723K
July 2026$726K
June 2026$721K
May 2026$724K
April 2026$718K
March 2026$706K
February 2026$706K
January 2026$711K
2025

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
413 Sunset Rd, Ely, MN
1.01
Single-Family Home
$519,000
07/31/26
3
2
1,320
13462 Villa Rd, Ely, MN
1.69
Single-Family Home
$465,000
05/27/26
4
2.5
1,962
2137 Deer Ridge Rd, Ely, MN
1.52
Single-Family Home
$420,000
11/14/25
1
1
1,440
540 Loop Rd, Ely, MN
2.15
Single-Family Home
$710,000
02/06/26
3
2
3,160
13464 Chestnut Dr, Ely, MN
1.62
Single-Family Home
$210,000
07/27/26
2
1
1,215
480 Kawishiwi Tr, Ely, MN
1.95
Single-Family Home
$265,000
09/11/25
3
1.5
1,693
13496 Pine Rd #10, Ely, MN
1.68
Single-Family Home
$370,000
10/01/25
4
2.5
1,175

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
3216 Shady Rest, Ely, MN 55731
0.04
-
-
-
-
Off Market
260 Sunset Rd, Ely, MN 55731
0.17
$301,600
1
-
416
Off Market
3229 Big Rock Dr, Ely, MN 55731
0.24
$894,200
2
2
1,923
Off Market
Sunset Rd, Ely, MN 55731
0.29
-
-
-
-
Off Market
201 Sunset Rd, Ely, MN 55731
0.37
$809,700
3
1
1,490
Off Market
167 Sunset Rd, Ely, MN 55731
0.57
$801,200
3
2
2,520
Off Market
359 Sunset Rd, Ely, MN 55731
0.63
$625,000
2
2
2,079
For Sale
tbd Sunset Rd, Ely, MN 55731
0.68
-
-
-
-
Off Market
tbd Sunset Rd, Ely, MN 55731
0.75
-
-
-
-
Off Market
tbd Sunset Rd, Ely, MN 55731
0.77
-
-
-
-
Off Market
tbd Sunset Rd, Ely, MN 55731
0.80
-
-
-
-
Off Market

Local Information

  • Map ViewExplore the area around 3206 Shady Rest.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Property Type
Single-Family Home
Year Built
1992
Lot Size
2.69 acres
Living Area
1,768 sqft
Price/Sqft
$410
Parking
Garage

About this House

Located on the shores of White Iron Lake in Ely, Mn, this stunning property features +/-2.7 acres of well-manicured trails, perennial gardens, and majestic pines. The +/- 240’ of level shoreline provides phenomenal westerly views and great swimming. The beautiful 2-bedroom, 2-bath energy efficient home was built by Barry Bissonette, a well-known log contractor in the area – using only the best building materials for our climate – including red cedar logs from British Columbia and a “polar roof” (extra insulated designed for harsh Alaskan winters). The home features a large living/dining room with a wood burning fireplace, spectacular lake views, main-floor bed and bath, and an updated kitchen with solid surface counters and stainless appliances. The walk-out lower primary suite features in-floor heat, corner wood stove, a built-in desk, and a sitting area with ideal lake views. Private ¾ bath with a sauna plus a laundry/utility room complete the lower level. At the shore you will find a lovely water accessory building, quality dock and boat lift. The 2.5-stall detached garage provides additional storage for all your lake toys! This property comes with a shared boat launch just down the road. Additional acreage and lakeshore are available. Home is being sold furnished - so move right it and enjoy lake living at its finest.
3206 Shady Rest, Ely, MN 55731 is a 2 bedroom, 2 bathroom, 1,768 sqft single-family home built in 1992. It last sold for $710,200 on Aug 29, 2025 (7% below the $765,000 asking price). It is currently off market. The Trulia Estimate is $725,500, with a rent estimate of $2,170/month.
Last check for updates: about 22 hours ago
Listed by Anna Yahnke, (218) 235-3547
Bear Island Realty LLC
Kate Davies, (218) 343-9173
Bear Island Realty LLC
Bought with: Kerry F Davis, (218) 235-1084, Canoe Capital Realty, LLC
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6120378

Home Details for 3206 Shady Rest

Interior Features

Interior Details
Basement: Full,Egress Windows,Finished,Walkout,Bath,Bedrooms,Utility Room,Washer Hook-Ups,Dryer Hook-UpsNumber of Rooms: 6Types of Rooms: Master Bedroom, Bedroom, Dining Room, Kitchen, Laundry, Living Room
Beds & Baths
Number of Bedrooms: 2Main Level Bedrooms: 1Number of Bathrooms: 2Number of Bathrooms (full): 1Number of Bathrooms (three quarters): 1
Dimensions and Layout
Living Area: 1768 Square FeetFoundation Area: 884
Appliances & Utilities
Appliances: Dryer, Exhaust Fan, Microwave, Range, Refrigerator, WasherDryerMicrowaveRefrigeratorWasher
Heating & Cooling
Heating: Baseboard,Fireplace(s),In Floor Heat,Wood,ElectricHas CoolingAir Conditioning: DuctlessHas HeatingHeating Fuel: Baseboard
Fireplace & Spa
Number of Fireplaces: 2Fireplace: Wood BurningHas a Fireplace
Gas & Electric
Electric: Minnesota Power
Windows, Doors, Floors & Walls
Flooring: Hardwood Floors
Levels, Entrance, & Accessibility
Number of Stories: 1Floors: Hardwood Floors
View
Has a ViewView: Inland Lake, Panoramic

Exterior Features

Exterior Home Features
Roof: Asphalt ShinglePatio / Porch: DeckVegetation: Heavily WoodedOther Structures: Boat HouseExterior: DockFoundation: Concrete Perimeter
Parking & Garage
Number of Garage Spaces: 2Number of Covered Spaces: 2No CarportHas a GarageNo Attached GarageParking Spaces: 2Parking: Gravel,Detached
Frontage
WaterfrontWaterfront: Inland Lake, Waterfront Access(Private)Road Frontage: Private RoadResponsible for Road Maintenance: Association Maintained RoadOn Waterfront
Water & Sewer
Sewer: Private Sewer, Mound SepticWater Body: White Iron
Farm & Range
Frontage Length: 240
Finished Area
Finished Area (above surface): 884 Square FeetFinished Area (below surface): 884 Square Feet

Days on Market

Cumulative Days on Market: 38

Property Information

Year Built
Year Built: 1992
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Ranch
Building
Construction Materials: Log, Wood, Log Home
Property Information
Condition: Previously OwnedParcel Number: 28622501080

Price & Status

Price
List Price: $765,000
Status Change & Dates
Off Market Date: Sun Aug 03 2025Possession Timing: Immediate

Active Status

MLS Status: SOLD

Location

Direction & Address
City: Ely
School Information
High School District: Lake Superior #381

HOA

No HOA

Lot Information

Lot Area: 2.69 Acres

Miscellaneous

BasementMls Number: 6120378Water ViewWater View: LakeAttribution Contact: ***Above Grade Unfinished Area: 884

Price and Tax history

DateEventPrice
Aug 29, 2025
Source: Lake Superior Area Realtors as distributed by MLS GRID #6120378
Sold
$710,200
Aug 11, 2025
Source: Lake Superior Area Realtors as distributed by MLS GRID #6120378
Pending
$765,000
Jul 1, 2025
Source: Lake Superior Area Realtors as distributed by MLS GRID #6120378
Listed For Sale
$765,000

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

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 2026-08-23 13:52:27 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 3206 Shady Rest

  • What is 3206 Shady Rest estimated to be worth?
    Trulia's estimated value for 3206 Shady Rest in Ely, MN is $725,500.
  • What is the price history for 3206 Shady Rest?
    3206 Shady Rest in Ely, MN last sold for $710,200 in August 2025.
  • 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 3206 Shady Rest have air conditioning?
    Yes, 3206 Shady Rest in Ely, MN has air conditioning.
  • Does 3206 Shady Rest have laundry facilities?
    Yes, 3206 Shady Rest in Ely, MN has in-unit laundry.

Apartments for Rent

Skip to last item
  • Results are loading
Skip to first item

Off Market Homes Near 3206 Shady Rest

Skip to last item
Skip to first item

Homes for sale near 3206 Shady Rest

Skip to last item
Skip to first item
Skip to last item
  • Results are loading
Skip to first item