498 Shady Ln, Ely, MN 55731
OFF MARKET

$118,700

Trulia Estimate
  • 1 Bed
  • 285 sqft (on 1.25 acres)

498 Shady Ln, Ely, MN 55731

Est. Refi. Payment $815/mo*
Refinance Your Home
Currently Off Market - Sold Apr 29, 2019 for $40,000

Home Value

Trulia Estimate
$119K
Since last month
Decreased$9K (-6.8%)
Since last year
Decreased$6K (-4.5%)
Since last sale
Increased$89K (+222%)
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 decreased by -17% in the last 10 years
MonthEstimated value
2026
September 2026$129K
August 2026$119K
July 2026$138K
June 2026$126K
May 2026$131K
April 2026$135K
March 2026$118K
February 2026$111K
January 2026$121K
2025
2024
2023

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
1.02
Single-Family Home
$359,000
05/29/26
2
2
3,274
607 N Main St, Winton, MN
2.61
Single-Family Home
$415,000
03/06/26
2
1
1,088
386 Garden Lake Rd, Ely, MN
2.30
Single-Family Home
$419,000
12/08/25
3
2
2,281
482 Kawishiwi Trl, Ely, MN
3.25
Single-Family Home
$60,000
12/03/25
2
1
1,194
1152 Fernberg Rd, Ely, MN
3.28
Single-Family Home
$150,000
07/24/26
1
1
516
632 Voyageur Rd, Ely, MN
3.23
Single-Family Home
$475,000
08/28/26
2
1
1,335
13408 Black Bear Tr, Ely, MN
3.48
Single-Family Home
$210,000
09/25/25
2
1
614
13464 Chestnut Dr, Ely, MN
3.36
Single-Family Home
$210,000
07/27/26
2
1
1,215
540 Loop Rd, Ely, MN
3.20
Single-Family Home
$710,000
02/06/26
3
2
3,160

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
470 Shady Ln, Ely, MN 55731
0.14
$669,700
2
1
1,195
Off Market
14026 Chickadee Ln, Ely, MN 55731
0.47
$1,226,200
3
2.5
3,000
Off Market
14015 Romberg Shores Rd, Ely, MN 55731
0.54
$637,400
3
2
2,294
Off Market
611 Circle Dr, Ely, MN 55731
0.57
$627,300
3
1
1,253
Off Market
631 Circle Dr, Ely, MN 55731
0.71
$805,000
3
2.5
2,373
Recently Sold
xxxx Circle Dr, Ely, MN 55731
0.72
-
-
-
-
Off Market
xxx Shady Ln, Ely, MN 55731
0.76
-
-
-
-
Off Market
TBD Circle Dr, Ely, MN 55731
0.81
$65,000
-
-
-
Recently Sold
429 Barrell Road Lot 6, Ely, MN 55731
0.87
-
-
-
-
Off Market
296 Shady Ln, Ely, MN 55731
0.93
$249,000
2
1
912
For Sale
425 Barrell Road Lot 5, Ely, MN 55731
0.93
-
-
-
-
Off Market

Local Information

  • Map ViewExplore the area around 498 Shady Ln.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
1.25 acre lot
285 sqft
$416/sqft

About this House

This single-family home is located at 498 Shady Ln, Ely, MN. 498 Shady Ln is in Ely, MN and in ZIP code 55731. This property has 1 bedroom and approximately 285 sqft of floor space. This property has a lot size of 1.25 acres.
498 Shady Ln, Ely, MN 55731 is a 1 bedroom, 285 sqft single-family home. It last sold for $40,000 on Apr 29, 2019. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $118,700, with a rent estimate of $1,019/month.

Home Details for 498 Shady Ln

Interior Features

Levels, Entrance, & Accessibility
Stories: 1
Interior Details
Additional StorageIn-law unitStorage

Property Information

Property Type / Style
Property Type: Single Family HomeArchitecture: Log Cabin/Rustic

Exterior Features

Exterior Home Features
Exterior: Wood

Community

Units in Building: 1

Lot Information

Lot Area: 1.25 acres

Building

Pool
Sauna

Price and Tax history

DateEventPrice
Apr 29, 2019
Source: N/A
Sold
$40,000

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
    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

Frequently asked questions about 498 Shady Ln

  • What is 498 Shady Ln estimated to be worth?
    Trulia's estimated value for 498 Shady Ln in Ely, MN is $118,700.
  • What is the price history for 498 Shady Ln?
    498 Shady Ln in Ely, MN last sold for $40,000 in April 2019.
  • 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 498 Shady Ln?
    The lot at 498 Shady Ln in Ely, MN is about 1.3 acres.

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