540 Loop Rd, Ely, MN 55731
SOLD
FEB 6, 2026

540 Loop Rd
Ely, MN 55731

  • 3 Beds
  • 2 Baths
  • 3,160 sqft (on 2.60 acres)

$710,000

Last Sold: Feb 6, 2026
1% below list $720K
$225/sqft
Est. Refi. Payment $4,336/mo*
Refinance Your Home

$710,000

Last Sold: Feb 6, 2026
1% below list $720K
$225/sqft
Est. Refi. Payment $4,336/mo*
Refinance Your Home
3 Beds
2 Baths
3,160 sqft
(on 2.60 acres)

Home Value

Trulia Estimate
$727K
Since last month
Increased$500 (+0.1%)
Since last year
Increased$255K (+53.9%)
Since last sale
Increased$18K (+2.5%)
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 +158% in the last 10 years
MonthEstimated value
2026
August 2026$728K
July 2026$727K
June 2026$719K
May 2026$722K
April 2026$713K
March 2026$710K
February 2026$711K
January 2026$690K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

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
480 Kawishiwi Tr, Ely, MN
0.35
Single-Family Home
$265,000
09/11/25
3
1.5
1,693
13408 Black Bear Tr, Ely, MN
0.37
Single-Family Home
$210,000
09/25/25
2
1
614
13462 Villa Rd, Ely, MN
1.08
Single-Family Home
$465,000
05/27/26
4
2.5
1,962
386 Garden Lake Rd, Ely, MN
1.25
Single-Family Home
$419,000
12/08/25
3
2
2,281
413 Sunset Rd, Ely, MN
1.19
Single-Family Home
$519,000
07/31/26
3
2
1,320
13436 Bear Paw Trail, Ely, MN
0.42
Single-Family Home
$460,000
09/12/25
2
1
721
13315 Aurora Dr, Ely, MN
1.69
Single-Family Home
$1,264,900
09/30/25
4
2
3,740
13464 Chestnut Dr, Ely, MN
1.14
Single-Family Home
$210,000
07/27/26
2
1
1,215

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
xxx Kelly's Lots Rd, Ely, MN 55731
0.19
-
-
-
-
Off Market
TBD Black Bear Tr, Ely, MN 55731
0.30
-
-
-
-
Off Market
480 Kawishiwi Tr, Ely, MN 55731
0.35
$266,500
3
1.5
1,693
Off Market
615 Kellys Lots Rd, Ely, MN 55731
0.37
$336,900
1
1
777
Off Market
13408 Black Bear Tr, Ely, MN 55731
0.37
$214,900
2
1
614
Off Market
13436 Bear Paw Trail, Ely, MN 55731
0.42
$470,300
2
1
721
Off Market
584 Riverview, Ely, MN 55731
0.49
$840,600
3
2
2,108
Off Market
590 Riverview Rd, Ely, MN 55731
0.51
$1,471,100
4
2.5
2,898
Off Market
13412 Bear Paw Tr, Ely, MN 55731
0.47
$395,000
2
1
955
For Sale
632 Voyageur Rd, Ely, MN 55731
0.52
$519,000
2
1
1,335
For Sale
xxx Farm Lake, Ely, MN 55731
0.71
-
-
-
-
Off Market

Local Information

  • Map ViewExplore the area around 540 Loop Rd.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Property Type
Single-Family Home
Year Built
2007
Lot Size
2.6 acres
Living Area
3,160 sqft
Price/Sqft
$225/sqft
Parking
Garage

About this House

Here's a Northwoods retreat people dream about but rarely find. This handcrafted log home on Farm Lake wraps you in warmth the moment you walk in — over 2,400 sq ft, wrapped in timber and sunlight. The main level is designed for togetherness: new custom kitchen cabinets, quartz countertops, a comfortable dining area, and a living room anchored by a cozy wood-burning stove. Two bedrooms & a full bath complete this level. Head up to the 700+ sq ft loft, with soaring ceilings, built-ins, and sweeping views make the space feel tucked-away and inspiring an artist’s nook or simply reading a book while the pines sway outside your window. The walk-out level is its own retreat, featuring the Primary Suite, a utility/laundry room, and a rec room made for hosting. Private woods take you to the 220 ft of shoreline. Incredible view from the custom built 100 ft perm newer dock, complete with benches and a kayak step, makes slipping into the lake a breeze Best of all the BWCA is just a paddle away.
540 Loop Rd, Ely, MN 55731 is a 3 bedroom, 2 bathroom, 3,160 sqft single-family home built in 2007. It last sold for $710,000 on Feb 6, 2026 (1% below the $719,900 asking price). It is currently off market. The Trulia Estimate is $727,200, with a rent estimate of $2,762/month.
Last check for updates: about 1 hour ago
Listed by Andrea Zupancich, (218) 749-0159
Z' Up North Realty
Bought with: Lisa Poppenhagen, (218) 235-7836, Ely Realty
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6123162

Home Details for 540 Loop Rd

Interior Features

Interior Details
Basement: Full,Finished,Walkout,Bath,Bedrooms,Family/Rec Room,Utility Room,Washer Hook-Ups,Dryer Hook-UpsNumber of Rooms: 8Types of Rooms: Bedroom, Family Room, Kitchen, Living Room, Loft, Utility Room
Beds & Baths
Number of Bedrooms: 3Main Level Bedrooms: 1Number of Bathrooms: 2Number of Bathrooms (full): 1Number of Bathrooms (three quarters): 1
Dimensions and Layout
Living Area: 3160 Square FeetFoundation Area: 840
Appliances & Utilities
Appliances: Water Heater-Electric, Dishwasher, Dryer, Microwave, Range, Refrigerator, WasherDishwasherDryerMicrowaveRefrigeratorWasher
Heating & Cooling
Heating: Wood,ElectricHas CoolingAir Conditioning: Window Unit(s)Has HeatingHeating Fuel: Wood
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Wood BurningHas a Fireplace
Gas & Electric
Electric: City Of Ely
Levels, Entrance, & Accessibility
Number of Stories: 1
View
Has a ViewView: Inland Lake

Exterior Features

Exterior Home Features
Roof: Asphalt ShinglePatio / Porch: Deck, PorchFoundation: Concrete Perimeter
Parking & Garage
Number of Garage Spaces: 2Number of Covered Spaces: 2No CarportHas a GarageNo Attached GarageParking Spaces: 2Parking: Detached
Frontage
WaterfrontWaterfront: Inland Lake, Waterfront Access(Private)On Waterfront
Water & Sewer
Sewer: Private SewerWater Body: Farm
Farm & Range
Frontage Length: 220
Finished Area
Finished Area (above surface): 1580 Square FeetFinished Area (below surface): 1580 Square Feet

Days on Market

Cumulative Days on Market: 7

Property Information

Year Built
Year Built: 2007
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Traditional
Building
Construction Materials: Log, Frame/Wood
Property Information
Condition: Previously OwnedParcel Number: 28631133337

Price & Status

Price
List Price: $719,900Price Per Sqft: $225/sqft
Status Change & Dates
Off Market Date: Mon Dec 22 2025Possession Timing: Close Of Escrow

Active Status

MLS Status: SOLD

Location

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

HOA

No HOA

Lot Information

Lot Area: 2.6 Acres

Offer

Listing Terms: Cash, Conventional, VA Loan

Miscellaneous

BasementMls Number: 6123162Water ViewWater View: LakeAttribution Contact: ***Above Grade Unfinished Area: 1580

Price and Tax history

DateEventPrice
Feb 6, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6123162
Sold
$710,000
Jan 18, 2026
Source: Lake Superior Area Realtors as distributed by MLS GRID #6123162
Pending
$719,900
Dec 10, 2025
Source: Range AOR #149371
Listed For Sale
$719,900
Feb 5, 2021
Source: N/A
Sold
$335,000
Jan 12, 2021
Source: Lake Superior Area Realtors as distributed by MLS GRID #6094388
Pending
$335,000

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

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

Based on information submitted to the MLS GRID as of 2026-08-19 05:57:10 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

Frequently asked questions about 540 Loop Rd

  • What is 540 Loop Rd estimated to be worth?
    Trulia's estimated value for 540 Loop Rd in Ely, MN is $727,200.
  • What is the price history for 540 Loop Rd?
    540 Loop Rd in Ely, MN last sold for $710,000 in February 2026.
  • 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.
  • Does 540 Loop Rd have air conditioning?
    Yes, 540 Loop Rd in Ely, MN has air conditioning.
  • Does 540 Loop Rd have laundry facilities?
    Yes, 540 Loop Rd in Ely, MN has in-unit laundry.

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