3231 Wolf Lake Rd, Ely, MN 55731
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Property image
OFF MARKET

3231 Wolf Lake Rd
Ely, MN 55731

  • 5 Beds
  • 5 Baths
  • 5,250 sqft (on 20 acres)

$3,603,700

Trulia Estimate
as of Aug 19, 2026
Est. Refi. Payment $21,700/mo*
Refinance Your Home

$3,603,700

Trulia Estimate
as of Aug 19, 2026
Est. Refi. Payment $21,700/mo*
Refinance Your Home
5 Beds
5 Baths
5,250 sqft
(on 20 acres)

Home Value

Trulia Estimate
$3.6M
Since last month
Increased$25K (+0.7%)
Since last year
Increased$76K (+2.2%)
Since last sale
Increased$104K (+3%)
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 +367% in the last 10 years
MonthEstimated value
2026
August 2026$3.6M
July 2026$3.58M
June 2026$3.64M
May 2026$3.61M
April 2026$3.73M
March 2026$3.7M
February 2026$3.64M
January 2026$3.67M
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
2375 Viste Point Rd, Ely, MN
0.14
Single-Family Home
$900,000
04/01/26
3
2
2,706
1859 Bobence Rd, Ely, MN
2.98
Single-Family Home
$420,000
06/22/26
3
3
1,532
1675 Bradach Rd, Ely, MN
3.96
Single-Family Home
$780,000
08/12/26
3
2
1,916
3819 Dorem Dr, Ely, MN
4.39
Single-Family Home
$798,500
06/10/26
2
2.5
1,774
2796 Clayton Rd, Ely, MN
4.13
Single-Family Home
$665,000
01/30/26
3
2
1,296
1755 Bradach Rd, Ely, MN
3.33
Single-Family Home
$260,000
07/08/26
1
1
694
3806 Dorem Dr, Ely, MN
4.57
Single-Family Home
$250,000
07/24/26
2
1
720
3810 Mud Creek Rd, Ely, MN
4.28
Single-Family Home
$110,000
05/06/26
2
-
840

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
XXX Wolf Lake Rd, Ely, MN 55731
0.12
-
-
-
-
Off Market
2375 Viste Point Rd, Ely, MN 55731
0.14
$900,000
3
2
2,706
Recently Sold
xxx Wolf Lake Rd, Ely, MN 55731
0.25
-
-
-
-
Off Market
3168 Wolf Lake Rd, Ely, MN 55731
0.39
-
-
-
-
Off Market
Wolf Lake Rd, Ely, MN 55731
0.39
-
-
-
-
Off Market
3297 Aspen Ln, Ely, MN 55731
0.50
$224,000
3
1
560
For Sale
TBD Wolf Lake Rd, Ely, MN 55731
0.86
-
-
-
-
Off Market
2296 Balsam Ln, Ely, MN 55731
0.92
-
-
-
-
Off Market
xxx Wolf Lake Rd, Ely, MN 55731
0.95
-
-
-
-
Off Market
2130 Wolf Creek Pass, Ely, MN 55731
1.05
$375,300
2
1
832
Off Market

Local Information

  • Map ViewExplore the area around 3231 Wolf Lake Rd.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Property Type
Single-Family Home
Year Built
2007
Lot Size
20 acres
Living Area
5,250 sqft
Price/Sqft
$686
Parking
Garage

About this House

Ready to make this dream estate your legacy? Burntside Lake Home on Outlet Bay in Ely is now available. Whether watching trout swim upstream, observing eagles dive for fish, or enjoying the serenity of the woodland surroundings, you'll find countless reasons to stay and call Greystone home. Unparalleled living experience in Ely, MN. This one-of-a-kind custom home 5BR/6BA home is being offered for the very first time. Nestled on a sprawling 20-acre estate, this property boasts 1155 ft of pristine shoreline along Burntside Lake's Outlet Bay and the Burntside River. Surrounded by the beauty of nature, this estate is designed for those who seek both luxury and adventure. Greystone offers many features, too many to list, but include: 2 double sided Tulikivi green soapstone fireplaces (one with a pizza oven), two laundry rooms (main floor and 2nd flr), elevator, secret underground passage to the garage and guest rooms, outdoor kitchen, boathouse with patio, walking paths, pole bldg, She Shed /Potting Shed, reclaimed hardwood floors, wood paneled walls, Creston Security System, Folding Marvin Windows with electronic screens, real stone facade, Fir Douglas flooring, knotty alder custom cabinets, and the list keeps going!
3231 Wolf Lake Rd, Ely, MN 55731 is a 5 bedroom, 6 bathroom, 5,250 sqft single-family home built in 2007. It last sold for $3,500,000 on Jul 18, 2025 (10% below the $3,900,000 asking price). It is currently off market. The Trulia Estimate is $3,603,700, with a rent estimate of $5,072/month.
Last check for updates: about 13 hours ago
Listed by Andrea Zupancich, (218) 749-0159
Z' Up North Realty
Bought with: Patricia Bulinski, (218) 349-5595, Bear Island Realty LLC
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6114471

Home Details for 3231 Wolf Lake Rd

Interior Features

Interior Details
Basement: Full,Egress Windows,Finished,Walkout,Bath,Den/Office,Family/Rec Room,Fireplace,Kitchen,Utility RoomNumber of Rooms: 12Types of Rooms: Master Bedroom, Bedroom, Bathroom, Dining Room, Kitchen, Laundry, Living Room, Mud Room, Office, Recreation Room, Sun RoomWet Bar
Beds & Baths
Number of Bedrooms: 5Number of Bathrooms: 6Number of Bathrooms (full): 2Number of Bathrooms (three quarters): 2Number of Bathrooms (half): 2
Dimensions and Layout
Living Area: 5250 Square Feet
Appliances & Utilities
Utilities: Underground Utilities, Fiber OpticAppliances: Cooktop, Dishwasher, Dryer, Microwave, Range, Refrigerator, Wall Oven, WasherDishwasherDryerLaundry: Main Level,Second Floor LaundryMicrowaveRefrigeratorWasher
Heating & Cooling
Heating: Forced Air,PropaneHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Forced Air
Fireplace & Spa
Number of Fireplaces: 4Fireplace: Multiple, BasementHas a Fireplace
Gas & Electric
Electric: Lake Country Power, Other
Windows, Doors, Floors & Walls
Window: Double Glazed, Energy Windows, Wood FramesDoor: Patio DoorFlooring: Hardwood Floors, Tiled Floors
Levels, Entrance, & Accessibility
Number of Stories: 2Accessibility: Accessible Elevator InstalledFloors: Hardwood Floors, Tiled Floors
View
Has a ViewView: Bay, River
Security
Security: Security System

Exterior Features

Exterior Home Features
Roof: MetalPatio / Porch: Deck, PatioVegetation: Heavily WoodedOther Structures: Boat House, Pole Building, Guest House, StudioExterior: Balcony, Dock, Outdoor Kitchen, Rain GuttersFoundation: Concrete Perimeter
Parking & Garage
Number of Garage Spaces: 2Number of Covered Spaces: 2No CarportHas a GarageNo Attached GarageParking Spaces: 2Parking: Gravel,Detached,Multiple,Apartment,Bathroom,Bedroom,Drains,Electrical Service,Heat,Insulation,Slab
Frontage
WaterfrontWaterfront: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Gravel, Rocky, Sand, Shore-Accessible)Road Frontage: County RoadResponsible for Road Maintenance: NoneOn Waterfront
Water & Sewer
Sewer: Private SewerWater Body: Burntside
Farm & Range
Frontage Length: 1155
Finished Area
Finished Area (above surface): 3500 Square FeetFinished Area (below surface): 1750 Square Feet

Days on Market

Cumulative Days on Market: 175

Property Information

Year Built
Year Built: 2007
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Traditional
Building
Construction Materials: Stone, Wood, Frame/Wood
Property Information
Condition: CompletedParcel Number: 465004005145 and 465004005170

Price & Status

Price
List Price: $3,900,000
Status Change & Dates
Off Market Date: Mon Mar 24 2025Possession 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: 20 Acres

Offer

Contingencies: Subject to Financing (MN Only)Listing Terms: Cash, Conventional

Miscellaneous

BasementMls Number: 6114471Water ViewWater View: Bay, RiverAttribution Contact: ***Above Grade Unfinished Area: 3500

Price and Tax history

DateEventPrice
Jul 18, 2025
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114471
Sold
$3,500,000
Jul 12, 2025
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114471
Pending
$3,900,000
Jul 1, 2025
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114471
PendingToActive
$3,900,000
Mar 24, 2025
Source: NorthstarMLS as distributed by MLS GRID #6558966
Pending
$3,900,000
Mar 12, 2025
Source: Range AOR #146940
PriceChange
$3,900,000
Price decreased by 13%

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 2026-08-18 14:32:35 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 3231 Wolf Lake Rd

  • What is 3231 Wolf Lake Rd estimated to be worth?
    Trulia's estimated value for 3231 Wolf Lake Rd in Ely, MN is $3,603,700.
  • What is the price history for 3231 Wolf Lake Rd?
    3231 Wolf Lake Rd in Ely, MN last sold for $3,500,000 in July 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 3231 Wolf Lake Rd have air conditioning?
    Yes, 3231 Wolf Lake Rd in Ely, MN has air conditioning.
  • Does 3231 Wolf Lake Rd have laundry facilities?
    Yes, 3231 Wolf Lake Rd in Ely, MN has in-unit laundry.

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