Waters Is, Ely, MN 55731
OFF MARKET

Waters Is
Ely, MN 55731

  • Studio

$524,400

Trulia Estimate
as of Aug 10, 2026
Est. Refi. Payment $3,170/mo*
Refinance Your Home

$524,400

Trulia Estimate
as of Aug 10, 2026
Est. Refi. Payment $3,170/mo*
Refinance Your Home
Studio

Local Information

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

About this House

Waters Is is in Ely, MN and in ZIP code 55731.
Waters Is, Ely, MN 55731 is a studio property. It is currently off market. The Trulia Estimate is $524,400, with a rent estimate of $2,938/month.

Market trends in Ely

Last updated June 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
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Sale-to-List Price
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Price per sq ft
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Available listings
96
16MoM
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Comparable Sales for Waters Is

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
409 E Camp St, Ely, MN
0.04
Single-Family Home
$116,000
12/16/25
4
1
1,827
403 E Camp St, Ely, MN
0.05
Single-Family Home
$143,000
08/19/25
2
1
1,222
246 N 5th Ave E, Ely, MN
0.06
Single-Family Home
$165,500
05/01/26
3
1.5
1,346
254 N 5th Ave E, Ely, MN
0.07
Single-Family Home
$62,500
11/24/25
3
1
870
416 E Camp St, Ely, MN
0.08
Single-Family Home
$200,000
01/09/26
2
1.5
1,550
549 E Washington St, Ely, MN
0.14
Single-Family Home
$60,000
10/08/25
3
1
787
313 E Chapman St, Ely, MN
0.19
Single-Family Home
$216,000
03/02/26
4
2.5
1,824
139 E Chapman St, Ely, MN
0.25
Single-Family Home
$159,250
11/10/25
-
1,444
235 E Harvey St, Ely, MN
0.26
Single-Family Home
$164,000
06/18/26
3
2
1,299
27 E Harvey St, Ely, MN
0.36
Single-Family Home
$172,000
04/14/26
2
1.5
1,041

Nearby homes

Get a sense of prices in the area by checking nearby homes.
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Assigned Schools

These are the assigned schools for Waters Is.
View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

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."
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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 Waters Is

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Off Market Homes Near Waters Is

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Frequently asked questions about Waters Is

  • What is Waters Is estimated to be worth?
    Trulia's estimated value for Waters Is in Ely, MN is $524,400.
  • 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.
  • What are the closest schools to Waters Is?
    The closest schools to Waters Is in Ely, MN are Memorial Middle School (rated 7/10), Memorial Secondary (High, rated 9/10), Washington Elementary School (Pre-K, rated 6/10).