429 S 4th Ave E, Ely, MN 55731
Property image
Property image
FOR SALE

$230,000

Original price: $246,000
  • 7 Beds
  • 4 Baths
  • 2,600 sqft

429 S 4th Ave E, Ely, MN 55731

Est. Mortgage $1,528/mo*
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Home Highlights

Multi-Family
Built in 1900
$88/sqft
Garage

Local Information

  • Map ViewExplore the area around 429 S 4th Ave E.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

What's unique:Amazing viewsBlister-rust resistant white pinesOff street parking spotsIn unit laundryBeautiful stone retaining wallHuge attic space
A piece of history set back on 3 city lots on the corner of 4th Avenue and James Street. This Triplex has been loved and cared for for over 30 years. The main floor has a 3 bedroom apartment and an efficiency apartment each with their own off street parking spots, kitchens, bathrooms, and access to the basement for separate laundry areas. The upstairs is a 4+ bedroom with in unit laundry and a huge attic space that could be storage or it has the potential to be 2 extra bedrooms and has amazing views. The yard is huge with a beautiful stone retaining wall on the south side, a big garden, blister-rust resistant white pines and a beautiful sugar maple tree. This property is easily customizable to combine the entire 1st level or add a bedroom to the efficiency. Grab yourself a piece of history and a rare cash flowing rental property in the amazing town of Ely!
Last check for updates: about 2 hours ago
Listing courtesy of Joseph Tome, (218) 235-8325
Grand Properties
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6127738
Also Listed on Lake Superior Area Realtors as distributed by MLS GRID.

Home Details for 429 S 4th Ave E

Interior Features

Interior Details
Basement: Full
Beds & Baths
Number of Bedrooms: 7Number of Bathrooms: 4
Dimensions and Layout
Living Area: 2600 Square FeetFoundation Area: 1300
Heating & Cooling
Heating: Boiler,OilHas HeatingHeating Fuel: Boiler
Gas & Electric
Electric: City Of Ely
Levels, Entrance, & Accessibility
Number of Stories: 2
View
No View

Exterior Features

Exterior Home Features
Foundation: Rock
Parking & Garage
Number of Garage Spaces: 1Number of Covered Spaces: 1No CarportHas a GarageNo Attached GarageParking Spaces: 1Parking: Detached
Frontage
Not on Waterfront
Water & Sewer
Sewer: Public Sewer
Finished Area
Finished Area (above surface): 2600 Square Feet

Days on Market

Cumulative Days on Market: 265Days on Market: 22

Property Information

Year Built
Year Built: 1900
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Triplex
Building
Construction Materials: Fiber Board, Timber/Post & Beam
Property Information
Condition: Previously OwnedParcel Number: 030035000470

Price & Status

Price
List Price: $230,000Price Per Sqft: $88
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: 6127738

HOA

No HOA

Lot Information

Lot Area: 9147.6 sqft

Business

Expense
Tenant Pays: Other

Rental Terms, Policies & Fees

Owner Pays: Electricity, Gas, Repairs

Miscellaneous

BasementMls Number: 6127738Attribution Contact: ***Above Grade Unfinished Area: 2600

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
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  • 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 August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
103
5MoM

Home Value

Learn more about this home's value by checking out the value of nearby homes.

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
317 E James St, Ely, MN 55731
0.02
$159,900
2
1.5
875
Off Market
409 E Boundary St, Ely, MN 55731
0.07
$227,600
4
2
1,450
Off Market
427 E Pattison St, Ely, MN 55731
0.08
$239,500
3
2
1,514
Off Market
324 S 4th Ave E, Ely, MN 55731
0.07
$122,500
4
3
2,640
For Sale
512 E Pattison St, Ely, MN 55731
0.10
$176,700
2
1
980
Off Market
324 E White St, Ely, MN 55731
0.09
$199,900
5
1.5
1,506
For Sale
513 E Boundary St, Ely, MN 55731
0.12
$105,200
2
1
658
Off Market
524 E Pattison St, Ely, MN 55731
0.12
$283,700
4
2
2,728
Off Market
519 E Boundary St, Ely, MN 55731
0.13
$173,900
3
1
1,167
Off Market

Price and Tax history

DateEventPrice
Sep 8, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6127738
PriceChange
$230,000
Price decreased by 7%
Sep 2, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6127738
Listed For Sale
$246,000
Sep 1, 2026
Source: NorthstarMLS as distributed by MLS GRID #7064870
ListingRemoved
$246,000
Jul 20, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124897
PriceChange
$246,000
Price decreased by 4%
Jul 12, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124897
PendingToActive
$256,000

LGBTQ Local Legal Protections

Joseph Tome, Grand Properties
Agent Phone: (218) 235-8325
Based on information submitted to the MLS GRID as of 2026-09-24 06:57:12 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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429 S 4th Ave E, Ely, MN 55731 is a 7 bedroom, 4 bathroom, 2,600 sqft multi-family built in 1900. This property is currently available for sale and was listed by Lake Superior Area Realtors as distributed by MLS GRID on Sep 2, 2026. The MLS # for this home is MLS# 6127738.