5368 S Ely Island, Tower, MN 55790
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Property image
OFF MARKET

5368 S Ely Island
Tower, MN 55790

  • 2 Beds
  • 0.5 Baths
  • 862 sqft (on 1.64 acres)

$344,000

Trulia Estimate
as of Jul 3, 2026
Est. Refi. Payment $2,076/mo*
Refinance Your Home

$344,000

Trulia Estimate
as of Jul 3, 2026
Est. Refi. Payment $2,076/mo*
Refinance Your Home
2 Beds
0.5 Baths
862 sqft
(on 1.64 acres)

Local Information

  • Map ViewExplore the area around 5368 S Ely Island.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Description

Discover the unparalleled serenity of Lake Vermilion's Ely Island with this charming cabin retreat nestled on 1.64 acres with 230' of shoreline. An open-concept loft design with large windows allows for abundant natural light and breathtaking lake views. A spacious deck offers the perfect setting for outdoor dining, relaxation and entertaining. The cabin includes a boat house that is currently used for storage but could easily be converted back to a boat house. The cabin is fully insulated. Two docks. Boat lift included. Easy boat access from several public boat launches. Embrace the simplicity and tranquility of island living in this Northern Minnesota cabin retreat. Don't miss out on this gem...schedule your private tour today!
5368 S Ely Island, Tower, MN 55790 is a 2 bedroom, 1 bathroom, 862 sqft single-family home built in 1994. It last sold for $295,000 on Sep 5, 2024 (16% below the $349,900 asking price). It is currently off market. The Trulia Estimate is $344,000, with a rent estimate of $1,597/month.

Home Highlights

Parking
No Info
Outdoor
Deck
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
180+ days ago

Home Details for 5368 S Ely Island

Interior Features

Interior Details
Basement: N/ANumber of Rooms: 4Types of Rooms: Bedroom, Kitchen, Living Room
Beds & Baths
Number of Bedrooms: 2Main Level Bedrooms: 1Number of Bathrooms: 1Number of Bathrooms (quarter): 1
Dimensions and Layout
Living Area: 862 Square FeetFoundation Area: 784
Appliances & Utilities
Appliances: Microwave, Range, Refrigerator, WasherMicrowaveRefrigeratorWasher
Heating & Cooling
Heating: Baseboard,Wood,ElectricHas CoolingAir Conditioning: Window Unit(s)Has HeatingHeating Fuel: Baseboard
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Free StandingHas a Fireplace
Gas & Electric
Electric: Lake Country Power
Levels, Entrance, & Accessibility
Number of Stories: 1
View
Has a ViewView: Inland Lake

Exterior Features

Exterior Home Features
Roof: Asphalt ShinglePatio / Porch: DeckVegetation: Partially WoodedOther Structures: Boat HouseExterior: Dock
Parking & Garage
No CarportNo GarageNo Attached GarageParking: None,None
Frontage
WaterfrontWaterfront: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Gravel, Rocky, Shore-Accessible)Road Frontage: NoneResponsible for Road Maintenance: NoneOn Waterfront
Water & Sewer
Sewer: OuthouseWater Body: Vermilion
Farm & Range
Frontage Length: 230
Finished Area
Finished Area (above surface): 862 Square Feet

Days on Market

Cumulative Days on Market: 76

Property Information

Year Built
Year Built: 1994
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Traditional
Building
Construction Materials: Aluminum, Frame/Wood
Property Information
Condition: Previously OwnedParcel Number: 270011600040

Price & Status

Price
List Price: $349,900
Status Change & Dates
Off Market Date: Tue Aug 06 2024Possession Timing: Close Of Escrow

Active Status

MLS Status: SOLD

Location

Direction & Address
City: Tower
School Information
High School District: St. Louis County #2142

HOA

No HOA

Lot Information

Lot Area: 1.64 Acres

Offer

Listing Terms: Cash, Conventional

Miscellaneous

BasementMls Number: 6113803Water ViewWater View: LakeAttribution Contact: ***Above Grade Unfinished Area: 862
Last check for updates: about 4 hours ago
Listed by Sherry Anderson
Vermilion Land Office, Inc
Bought with: Sherry Anderson, Vermilion Land Office, Inc
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6113803

Price History for 5368 S Ely Island

DatePriceEventSource
09/05/2024$295,000Sold
Lake Superior Area Realtors as distributed by MLS GRID #6113803
08/08/2024$349,900ContingentRange AOR #146721
08/07/2024$349,900PendingLake Superior Area Realtors as distributed by MLS GRID #6113803
05/22/2024$349,900Listed For SaleLake Superior Area Realtors as distributed by MLS GRID #6113803

Market trends in Ely

Last updated May 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
79
6MoM
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Property Tax and Assessment

Year2024
Tax$2,522
Assessment$243,900
Home facts updated by county records

Comparable Sales for 5368 S Ely Island

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
5322 S Ely Island, Tower, MN
0.36
Single-Family Home
$190,000
09/02/25
1
-
434
5878 Echo Point Rd, Tower, MN
2.79
Single-Family Home
$340,000
05/29/26
3
0.5
768
5713 Pine Is N, Tower, MN
3.04
Single-Family Home
$310,000
08/29/25
2
1
946
65 Main St, Soudan, MN
2.42
Single-Family Home
$40,000
10/17/25
3
1
1,152
20 South Street, Soudan, MN
2.69
Single-Family Home
$199,500
07/31/25
3
2
1,125
5743 Puncher Point Rd, Tower, MN
2.41
Single-Family Home
$1,470,500
05/21/26
3
2.5
2,560

Nearby homes

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Assigned Schools

These are the assigned schools for 5368 S Ely Island.

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. "
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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
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  • 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
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  • 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
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  • 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."
    0
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Apartments for Rent

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Homes for sale near 5368 S Ely Island

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Off Market Homes Near 5368 S Ely Island

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Based on information submitted to the MLS GRID as of 2026-07-03 05:27:18 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