470 Shady Ln, Ely, MN 55731
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Property image
OFF MARKET

470 Shady Ln
Ely, MN 55731

  • 2 Beds
  • 1 Bath
  • 1,195 sqft (on 12.11 acres)

$660,900

Trulia Estimate
as of Aug 17, 2026
Est. Refi. Payment $4,041/mo*
Refinance Your Home

$660,900

Trulia Estimate
as of Aug 17, 2026
Est. Refi. Payment $4,041/mo*
Refinance Your Home
2 Beds
1 Bath
1,195 sqft
(on 12.11 acres)

Home Value

Trulia Estimate
$661K
Since last month
Decreased$2K (-0.2%)
Since last year
Increased$16K (+2.5%)
Since last sale
Decreased$21K (-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 +73% in the last 10 years
MonthEstimated value
2026
August 2026$661K
July 2026$663K
June 2026$663K
May 2026$662K
April 2026$656K
March 2026$642K
February 2026$642K
January 2026$625K
2025
2024
2023
2022
2021
2020

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
631 Circle Dr, Ely, MN
0.71
Single-Family Home
$805,000
01/16/26
3
2.5
2,373
14108 Fall Lake Rd, Ely, MN
1.08
Single-Family Home
$359,000
05/29/26
2
2
3,274
142 Onigum Tr, Ely, MN
2.06
Single-Family Home
$930,000
08/29/25
3
2
2,042
386 Garden Lake Rd, Ely, MN
2.17
Single-Family Home
$419,000
12/08/25
3
2
2,281
118 Onigum Tr, Ely, MN
2.16
Single-Family Home
$735,000
09/04/25
3
2
2,189
607 N Main St, Winton, MN
2.49
Single-Family Home
$415,000
03/06/26
2
1
1,088
540 Loop Rd, Ely, MN
3.09
Single-Family Home
$710,000
02/06/26
3
2
3,160
1152 Fernberg Rd, Ely, MN
3.32
Single-Family Home
$150,000
07/24/26
1
1
516
480 Kawishiwi Tr, Ely, MN
3.06
Single-Family Home
$265,000
09/11/25
3
1.5
1,693
13462 Villa Rd, Ely, MN
3.15
Single-Family Home
$465,000
05/27/26
4
2.5
1,962

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
14026 Chickadee Ln, Ely, MN 55731
0.34
$1,219,900
3
2.5
3,000
Off Market
14015 Romberg Shores Rd, Ely, MN 55731
0.47
$634,500
3
2
2,294
Off Market
611 Circle Dr, Ely, MN 55731
0.55
$629,400
3
1
1,253
Off Market
xxx Shady Ln, Ely, MN 55731
0.65
-
-
-
-
Off Market
xxxx Circle Dr, Ely, MN 55731
0.67
-
-
-
-
Off Market
631 Circle Dr, Ely, MN 55731
0.71
$805,000
3
2.5
2,373
Recently Sold
429 Barrell Road Lot 6, Ely, MN 55731
0.74
-
-
-
-
Off Market
425 Barrell Road Lot 5, Ely, MN 55731
0.80
-
-
-
-
Off Market
417 Barrell Road, Ely, MN 55731
0.83
$347,000
-
-
-
For Sale
421 Barrell Road Lot 4, Ely, MN 55731
0.83
-
-
-
-
Off Market
TBD Circle Dr, Ely, MN 55731
0.81
$65,000
-
-
-
Recently Sold

Local Information

  • Map ViewExplore the area around 470 Shady Ln.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Property Type
Single-Family Home
Year Built
1930
Lot Size
12.11 acres
Living Area
1,195 sqft
Price/Sqft
$553
Parking
Garage

About this House

Charming south facing 2 BR 1 BA year round home located on Fall Lake with 375+/- feet of sand beach shoreline. The home is situated close to the waters edge, and includes 12 acres of boreal forest. Major updates have happened in the past 10 years and it's transformed from a seasonal cabin to year round. Improvements are: a new insulated roof, all the interior logs were hand sanded and chinked, numerous new windows, the beautiful lakeside porch is now 4 season and accessed through the french paned doors. The kitchen is new with beautiful tile flooring, cabinets, granite countertops and stainless appliances. Previously accessed from the outside, interior stairs were added to access the partially finished very clean walkout basement; location of the newer propane furnace, mechanicals, laundry and bathroom. Lovely details: include antique light fixtures, freestanding wood stove, wood floors, vaulted living room, open to the kitchen and dining room. At the edge of the BWCAW; 1.5 mile boat ride from the dock to the BW and only 7 miles from Ely. So much history to this charming structure! This authentic 1930's log cabin was moved in the 1960s over the ice from Basswood Lake to Fall Lake; in 1985 it was placed on a new walkout basement foundation, new septic and indoor bath added in 1998, and new cedar siding in 2002. Includes both an open pole barn and enclosed one, two wood sheds, septic, and sandpoint well. Behind this property is the 350 acres U of M Wilderness Research Center. Secluded, peaceful and one of a kind property.
470 Shady Ln, Ely, MN 55731 is a 2 bedroom, 1 bathroom, 1,195 sqft single-family home built in 1930. It last sold for the $679,000 asking price on Sep 5, 2024. It is currently off market. The Trulia Estimate is $660,900, with a rent estimate of $1,637/month.

Home Details for 470 Shady Ln

Interior Features

Interior Details
Basement: FullNumber of Rooms: 6Types of Rooms: Bedroom, Bathroom, Four Season Porch, Kitchen, Living Room
Beds & Baths
Number of Bedrooms: 2Main Level Bedrooms: 1Number of Bathrooms: 1Number of Bathrooms (three quarters): 1
Dimensions and Layout
Living Area: 1195 Square FeetFoundation Area: 1092
Heating & Cooling
Heating: Fireplace(s),Forced Air,Wood,PropaneHas HeatingHeating Fuel: Fireplace S
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Free StandingHas a Fireplace
Gas & Electric
Electric: Lake Country Power
Levels, Entrance, & Accessibility
Number of Stories: 1
View
No View

Exterior Features

Exterior Home Features
Roof: MetalVegetation: Heavily WoodedFoundation: Concrete Perimeter
Parking & Garage
Number of Garage Spaces: 2Number of Covered Spaces: 2Has a CarportHas a GarageNo Attached GarageParking Spaces: 2Parking: Carport,Detached
Frontage
WaterfrontWaterfront: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Gravel, Rocky, Sand, Shore-Accessible)On Waterfront
Water & Sewer
Sewer: Mound Septic, Private SewerWater Body: Fall
Farm & Range
Frontage Length: 375
Finished Area
Finished Area (above surface): 1123 Square FeetFinished Area (below surface): 72 Square Feet

Days on Market

Cumulative Days on Market: 3

Property Information

Year Built
Year Built: 1930
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Rustic
Building
Construction Materials: Wood, Log Home
Property Information
Condition: Previously OwnedParcel Number: 28637117040 28637117050

Price & Status

Price
List Price: $679,000
Status Change & Dates
Off Market Date: Mon Jul 22 2024

Active Status

MLS Status: SOLD

Location

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

HOA

No HOA

Lot Information

Lot Area: 12.11 Acres

Miscellaneous

BasementMls Number: 6115037Attribution Contact: ***Above Grade Unfinished Area: 1123
Last check for updates: about 9 hours ago
Listed by Patricia Bulinski, (218) 349-5595
Bear Island Realty LLC
Bought with: Patricia Bulinski, (218) 349-5595, Bear Island Realty LLC
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6115037

Price and Tax history

DateEventPrice
Sep 5, 2024
Source: Lake Superior Area Realtors as distributed by MLS GRID #6115037
Sold
$682,000
Jul 22, 2024
Source: Lake Superior Area Realtors as distributed by MLS GRID #6115037
Pending
$679,000
Jul 21, 2024
Source: Lake Superior Area Realtors as distributed by MLS GRID #6115037
Listed For Sale
$679,000
Aug 29, 2014
Source: Lake Superior Area Realtors as distributed by MLS GRID #2198158
Sold
$375,000

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
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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
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  • 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."
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Apartments for Rent

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Homes for sale near 470 Shady Ln

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Off Market Homes Near 470 Shady Ln

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Frequently asked questions about 470 Shady Ln

  • What is 470 Shady Ln estimated to be worth?
    Trulia's estimated value for 470 Shady Ln in Ely, MN is $660,900.
  • What is the price history for 470 Shady Ln?
    470 Shady Ln in Ely, MN last sold for $682,000 in September 2024.
  • 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.
  • How big is the lot at 470 Shady Ln?
    The lot at 470 Shady Ln in Ely, MN is about 12.1 acres.
  • Does 470 Shady Ln have a garage?
    Yes, 470 Shady Ln in Ely, MN has a garage.
Based on information submitted to the MLS GRID as of 2026-08-17 03:22:20 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