Ely Homes under $400,000

Welcome to Ely, Minnesota—a charming city nestled within the majestic landscapes of St. Louis County. Known for its breathtaking natural beauty, Ely is a gateway to the stunning Boundary Waters Canoe Area Wilderness, making it a haven for outdoor enthusiasts and nature lovers alike. With its rich history in mining and logging, Ely boasts a unique blend of small-town charm and vibrant community spirit, ensuring that residents enjoy a quality of life that is both peaceful and fulfilling.

Ely is not just a destination for adventure; it’s also a place where you can find your dream home without breaking the bank. The real estate market in Ely offers a delightful selection of homes priced under $400,000, making it an ideal choice for first-time buyers, families, or anyone looking to invest in a serene lifestyle. From cozy cabins that exude rustic charm to modern homes equipped with contemporary amenities, there’s something for everyone in this picturesque city.

Imagine waking up to the sound of birds chirping and the gentle rustle of leaves, with endless opportunities for hiking, fishing, and exploring right at your doorstep. With a strong sense of community, excellent schools, and a variety of local shops and restaurants, Ely is a place where you can truly feel at home.

Whether you're seeking a weekend retreat or a permanent residence, Ely, MN, offers a unique blend of natural beauty and affordable living. Discover your perfect home in this enchanting city today!

Newest Ely Homes under $400,000

$175,000

1 Beds ⋅ 7138143 MLS

This "one of a kind" recreational cabin is situated on 8+ wooded acres near Lake Vermilion. The cabin features a rustic "charm" with aged barn wood ceilings, tin accents and angled/sloped roof line and foundation. Cabin includes open kit/DR/LR area w/free standing wood fireplace, bedroom and small sleeping loft. Extras include 24x36 detached garage w/concrete floor (built in 2025), well (w/hand pump), electricity, woodshed and storage shed/privy. This property is in a great location as it is located between Tower & Ely, near Lake Vermilion State Park & Campground, Mesabi Bike Trail is across the road, minutes from the new OHV Campground and near other area lakes for year around recreation. Property adjoins hundreds of acres of public land. This property is ready for the next owner to start making great memories at now!

4704 Highway 169, Ely

Listing courtesy of BIC Realty.

$385,000

3 Beds ⋅ 1 Baths ⋅ 7125017 MLS

Step into the warmth of this stunning log home, perfectly designed for those seeking a peaceful escape. Log home tucked under the White Pines on Everett Lake outsideof Ely MN. The open-floor concept blends the kitchen, dining, and living areas beautifully, making it the heart of the home. Picture yourself enjoying a morning coffee at the kitchen breakfast bar or cozying up by the wood-burning fireplace after a day outside. The home boasts in-floor heating, adding comfort to every season. A loft bedroom provides a private retreat, while two spacious main-floor bedrooms and a main-floor laundry offer convenience and practicality. Outdoor Paradise with waterfront access with 331 feet of shoreline, you'll have endless opportunities for kayaking, fishing, or simply soaking up the views. Spread out on your own peaceful 3+acre lot surrounded by nature. Two-Car Garage includes a finished loft space perfect for an artist's studio, a home office, exercise room, or play area. This property is ideal for nature lovers and those seeking tranquility right outside their front door. Whether you're enjoying serene lake views, hosting friends for a cozy weekend, or creating your dream studio in the loft above the garage, the possibilities are endless.

3547 Norway Lane, Ely

Listing courtesy of Z'Up North Realty, Inc..

$379,000

1 Beds ⋅ 1 Baths ⋅ 7114547 MLS

OPEN HOUSE: Click link for 3D Virtual Tour. Ely Country Home On 11.5 acres, just 5 miles south of Ely set back off Highway 169. 1B/1B yr rnd home, screen porch has potential to become second bedrm. 4920SF storage bldg has 17ft high double doors on each end, office w/laundry bath, 1B/1B upstairs yr rnd apt & huge space for indoor storage. Drilled well. Good internet. Area for garden. Looking to start/expand your business—part of this property has excellent visibility from the corner of Hwy 169 & Grand McMahon. Move in ready!

2331-1 Old HIghway 169, Ely

Listing courtesy of Janisch Realty, Inc.

$155,000

3 Beds ⋅ 1 Baths ⋅ 7107676 MLS

Welcome to this charming 3 bedroom, 1 bath home in beautiful Ely, MN! Plenty of windows throughout provide natural light, and a cozy fireplace greets you after exploring the great outdoors. With an attached garage for all your northern activities, this house will serve you for years to come!

1111 E Camp Street, Ely

Listing courtesy of North Pine Realty.

$299,000

1 Beds ⋅ 1 Baths ⋅ 7099776 MLS

Tucked away in a peaceful wooded setting on 4.6 acres just minutes outside of Ely, this one-of-a-kind A-frame built in 2023 is brimming with thoughtful craftsmanship. Every inch of this newly built 1 bed, 1 bath home has been intentionally designed, with each material carefully selected to tell a story. 800sq ft home showcases reclaimed and locally sourced materials creating a warm and inviting space nestled in the woods. A beautifully restored antique front door welcomes you inside where custom trim, concrete countertops, marble backsplash, and open kitchen shelving crafted from salvaged lumber from Rock Ridge Christian Camp in Ely. White oak flooring throughout as well as beautiful white oak beams in the cozy bedroom loft. In-floor heat and cozy wood burning stove made in Ireland. New septic and well. Plenty of room for growth! Whether you're searching for a full-time residence or weekend escape, this exceptional property offers privacy, artistry and an opportunity to unplug. This is more than a home; it's a story waiting for its next chapter!

1728 Maple St, Ely

Listing courtesy of eXp Realty.

$118,999

3 Beds ⋅ 2 Baths ⋅ 7088876 MLS

This charming 3bedroom, 2 bath home in Ely offers comfortable living with a relaxed Northwoods feel. The main floor features an eat-in kitchen that flows into a spacious living room, plus a convenient half bath. Upstairs you’ll find three bedrooms and a full bath, giving everyone their own space. One of the highlights is the beautiful 4-season sunroom finished in warm knotty pine, perfect for morning coffee or watching the seasons change. Outside, a custom stone and cement patio creates a great spot for relaxing or entertaining. The basement includes an electric sauna for unwinding after a day outdoors. There’s also a 1 stall garage with extra room for tinkering or storage. Locationwise, you’re close to the Trezona Trail, Miners Lake, and Shagawa Lake, and just a short walk to downtown Ely for coffee or a bite to eat. It’s a practical, well-laid-out home in a convenient Ely location.

230 W Camp Street, Ely

Listing courtesy of Z'Up North Realty, Inc..

$189,000

2 Beds ⋅ 2 Baths ⋅ 7086969 MLS

37 E Boundary Street E, Ely

Listing courtesy of Z'Up North Realty, Inc..

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