5441 N Ely Island, Tower, MN 55790
Property image
Property image
FOR SALE
3D VIEW
16.5 ACRES

$359,000

  • Studio
  • 240 sqft (on 16.50 acres)

5441 N Ely Island, Tower, MN 55790

Est. Mortgage $2,339/mo*
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We estimate this home will sell faster than 94% nearby.

Home Highlights

Single-Family Home
Built in 2024
16.5 acre lot
$1,496/sqft

Local Information

  • Map ViewExplore the area around 5441 N Ely Island.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

Possibly the best view on Lake Vermilion! Breathtaking views of 10+ islands. Everything on the property is new & ready for you to enjoy. This 16.5 acre parcel sits on a point with 180 degree views. 365' of elevated and flat shoreline.Property includes a new Amish-built cabin & outhouse with Andersen Windows & storm doors, Diamond Kote siding, closed cell spray foamed floor in cabin, new king-sized bed & coverings, 2 new futons, 400 amp electric service, new SS fridge/freezer, 20' one trip shipping container, second storage shed, new stairs down to new 40’ L shaped dock w/two cedar benches & swim ladder & new boat lift, additional 40’ dock & sitting deck, multiple fire rings & outdoor furniture, two viewing benches on the point, cedar swing, aluminum picnic table & bbq grill.Huge red & white pines, birch, poplar, maple & more. Property is dotted w/large boulders. Located very close to the deepest fishing holes on the lake. End of dock is 14' deep and great walleye fishing! Lower shore is ideal for walking in the water & swimming.
Last check for updates: about 2 hours ago
Listing courtesy of Barb Hegg, (218) 742-2369
Vermilion Land Office, Inc
Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6124857
Also Listed on NorthstarMLS as distributed by MLS GRID, NorthstarMLS as distributed by MLS GRID, Lake Superior Area Realtors as distributed by MLS GRID, Range AOR, Range AOR.
We estimate this home will sell faster than 94% nearby.

Home Details for 5441 N Ely Island

Interior Features

Dimensions and Layout
Living Area: 240 Square FeetFoundation Area: 240
Appliances & Utilities
Appliances: RefrigeratorRefrigerator
Heating & Cooling
Heating: NoneNo Heating
Fireplace & Spa
No Fireplace
Gas & Electric
Electric: Lake Country Power
Levels, Entrance, & Accessibility
Number of Stories: 1
View
No View

Exterior Features

Exterior Home Features
Roof: Asphalt ShingleExterior: Dock
Parking & Garage
No CarportNo GarageNo Attached GarageParking: None
Frontage
WaterfrontWaterfront: Inland Lake, Waterfront Access(Private)Road Frontage: NoneOn Waterfront
Water & Sewer
Sewer: OuthouseWater Body: Vermilion
Farm & Range
Frontage Length: 365
Finished Area
Finished Area (above surface): 240 Square Feet

Days on Market

Cumulative Days on Market: 4Days on Market: 143

Property Information

Year Built
Year Built: 2024
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Rustic
Building
Construction Materials: Engineered Wood, Frame/Wood
Property Information
Condition: Previously OwnedParcel Number: 270002001426

Price & Status

Price
List Price: $359,000Price Per Sqft: $1,496
Status Change & Dates
Possession Timing: Close Of Escrow

Active Status

MLS Status: ACTIVE

Media

Location

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

Agent Information

Listing Agent
Listing ID: 6124857

HOA

No HOA

Lot Information

Lot Area: 16.5 Acres

Offer

Listing Terms: Cash, Conventional

Miscellaneous

BasementMls Number: 6124857Attribution Contact: ***Above Grade Unfinished Area: 240

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

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

Home Value

Learn more about this home's value by checking out the value of nearby homes and how much similar homes have sold for.

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
5372 S Ely Island, Tower, MN
0.58
Single-Family Home
$210,000
09/11/26
2
-
647
5262 S Ely Island, Tower, MN
0.94
Single-Family Home
$320,000
08/14/26
2
-
624
5878 Echo Point Rd, Tower, MN
2.75
Single-Family Home
$340,000
05/29/26
3
0.5
768
5743 Puncher Point Rd, Tower, MN
2.45
Single-Family Home
$1,470,500
05/21/26
3
2.5
2,560
4891 Lake Vermilion N, Tower, MN
2.95
Single-Family Home
$229,000
07/24/26
2
-
1,219

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
5397 N Ely Island, Tower, MN 55790
0.27
-
-
-
-
Off Market
5368 S Ely Island, Tower, MN 55790
0.55
$343,200
2
0.5
862
Off Market
5372 S Ely Island, Tower, MN 55790
0.58
$210,000
2
-
647
Recently Sold
5322 S Ely Island, Tower, MN 55790
0.75
$194,200
1
-
434
Off Market
5262 S Ely Island, Tower, MN 55790
0.94
$320,000
2
-
624
Recently Sold
TBD S Ely Island, Tower, MN 55790
1.06
-
-
-
-
Off Market
5248 S Ely Island, Tower, MN 55790
1.07
$195,000
-
-
-
For Sale
Parcel 1 Ely Island, Tower, MN 55790
1.18
-
-
-
-
Off Market
3 Ely Is, Breitung Township, MN 55790
1.41
$364,200
Studio
-
520
Off Market

Price and Tax history

DateEventPrice
Apr 30, 2026
Source: NorthstarMLS as distributed by MLS GRID #7065125
Listed For Sale
$359,000
Nov 17, 2025
Source: NorthstarMLS as distributed by MLS GRID #6699748
ListingRemoved
$359,000
Sep 3, 2025
Source: Range AOR #148121
PriceChange
$359,000
Price decreased by 0%
Aug 18, 2025
Source: Range AOR #148121
PriceChange
$360,000
Price decreased by 1%
Jul 20, 2025
Source: Range AOR #148121
PriceChange
$365,000
Price decreased by 1%

LGBTQ Local Legal Protections

Barb Hegg, Vermilion Land Office, Inc
Agent Phone: (218) 742-2369
Based on information submitted to the MLS GRID as of 2026-09-21 01:32:09 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

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Frequently asked questions about 5441 N Ely Island

  • What is the estimated monthly payment for 5441 N Ely Island?
    Based on a $359,000 list price with 20% down at today's rates, the estimated monthly payment for 5441 N Ely Island in Tower, MN is approximately $2,363 (about $1,968 principal & interest, $320 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
  • What do residents say about Tower?
    Residents describe Tower, MN as easy to park in, quiet, and well-kept. Most residents say you need a car. See homes for sale in Tower, MN.
  • What are the closest schools to 5441 N Ely Island?
    The closest schools to 5441 N Ely Island in Tower, MN are Northeast Range Secondary (Middle/High, rated 6/10), Tower-Soudan Elementary School (Pre-K, rated 5/10).
  • How big is the lot at 5441 N Ely Island?
    The lot at 5441 N Ely Island in Tower, MN is about 16.5 acres.
  • Is there a virtual tour of 5441 N Ely Island?
    Yes, a virtual tour of 5441 N Ely Island in Tower, MN is available.
5441 N Ely Island, Tower, MN 55790 is a studio, 240 sqft single-family home built in 2024. This property is currently available for sale and was listed by Lake Superior Area Realtors as distributed by MLS GRID on Apr 30, 2026. The MLS # for this home is MLS# 6124857.