437 2nd Ave, Ely, MN 55731
OFF MARKET

$718,000

Trulia Estimate
  • 4 Beds
  • 2 Baths
  • 11,023 sqft (on 0.46 acres)

437 2nd Ave, Ely, MN 55731

Est. Refi. Payment $4,645/mo*
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Home Value

Trulia Estimate
$718K
Since last month
Increased$21K (+3%)
Since last year
Increased$223K (+45.1%)
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 +71% in the last 10 years
MonthEstimated value
2026
September 2026$718K
August 2026$697K
July 2026$725K
June 2026$696K
May 2026$673K
April 2026$622K
March 2026$633K
February 2026$613K
January 2026$507K
2025
2022
2021

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
141 E Chapman St, Ely, MN
0.32
Multi-Family Home
$329,000
10/03/25
3
2.5
3,000
229 E Sheridan St, Ely, MN
0.38
Multi-Family Home
$270,000
05/18/26
-
3,088
500 N Main St, Winton, MN
3.75
Multi-Family Home
$15,630
06/23/26
12
4
4,860
Home facts updated by county records

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
138 E Pattison St, Ely, MN 55731
0.03
$211,600
3
1.5
1,360
Off Market
118 E James St, Ely, MN 55731
0.03
$275,000
3
1
1,882
Recently Sold
105 E James St, Ely, MN 55731
0.05
$235,300
3
1
1,436
Off Market
137 E Boundary St, Ely, MN 55731
0.06
$209,000
2
2
1,287
Recently Sold
317 E James St, Ely, MN 55731
0.11
$159,900
2
1.5
875
Off Market
228 E White St, Ely, MN 55731
0.11
$872,250
1
1
693
Recently Sold
232 E Boundary St, Ely, MN 55731
0.11
$305,800
4
2.5
2,160
Off Market
37 E Boundary St, Ely, MN 55731
0.10
$189,000
2
2
1,058
For Sale
14 E James St, Ely, MN 55731
0.11
$224,900
4
1.5
1,360
Off Market

Local Information

  • Map ViewExplore the area around 437 2nd Ave.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Multi-Family
Built in 1930
0.46 acre lot
11,023 sqft
$65/sqft

About this House

What's unique:Seven garage spacesSpacious living roomRental unitsRanch style homeStrong rental historyGreat long term
This multi-family home is located at 437 2nd Ave, Ely, MN. 437 2nd Ave is in Ely, MN and in ZIP code 55731. This property has 4 bedrooms, 2 bathrooms and approximately 11,023 sqft of floor space. This property has a lot size of 0.46 acres and was built in 1930.
437 2nd Ave, Ely, MN 55731 is a 4 bedroom, 2 bathroom, 11,023 sqft multi-family built in 1930. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $718,000, with a rent estimate of $1,631/month.

Home Details for 437 2nd Ave

Interior Features

Levels, Entrance, & Accessibility
Stories: 2

Property Information

Year Built
Year Built: 1930
Property Type / Style
Property Type: Multi Family

Exterior Features

Exterior Home Features
Patio

Community

Units in Building: 7

Lot Information

Lot Area: 0.46 acres

Price and Tax history

DateEventPrice
Sep 14, 2021
Source: Lake Superior Area Realtors as distributed by MLS GRID
ListingRemoved
Aug 7, 2021
Source: Lake Superior Area Realtors as distributed by MLS GRID #6098899
Listed For Sale
$429,000

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

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

LGBTQ Local Legal Protections

Frequently asked questions about 437 2nd Ave

  • What is 437 2nd Ave estimated to be worth?
    Trulia's estimated value for 437 2nd Ave in Ely, MN is $718,000.
  • 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.
  • What are the closest schools to 437 2nd Ave?
    The closest schools to 437 2nd Ave in Ely, MN are Memorial Middle School (rated 7/10), Memorial Secondary (High, rated 9/10), Washington Elementary School (Pre-K, rated 6/10).

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Off Market Homes Near 437 2nd Ave

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