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    Ely, MN
    Short Term Rental

    Ely, MN Short Term Rental Properties for Sale

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    Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN
    Multi-Building Commercial Property
    Updated: Jul 4
    Multi-Building Commercial Property

    429 E Sheridan St, Ely, MN 55731

    $219,000
    1,362 sqft
    Property with 3 separate buildings: main kit log structure, guest house, and workshop
    Main building features a covered 8' x 22' front porch, loft space, and generous storage for retail, office, or other business use
    Recent main building updates include newer flooring, LP heating, blinds, metal roof, exterior stain, and fencing
    Guest house sleeps up to 8 guests with custom‑built bunk beds and includes a fully equipped kitchen and 3/4 bath
    Guest house improvements include updated electrical, newer cove electric heat, and newly insulated tongue‑and‑groove wood walls
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    This listing looks promising.

    Here's a quick look at some key insights for

    429 E Sheridan St, Ely, MN

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    • Est. Cap Rate

      8.6%
      Above avg (5.9%)

    • Est. NOI

      $19K
      Annual

    • Mortgage

      $65K
      Jul 2016

    • Last Sold

      Jul 2016
      $85K

    • Property Type

      Commercial (General)
      Built 1997
    View Property Analytics
    Based on your search, we've compiled 5 Potential Opportunities for your consideration. Besides 1 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Updated Furnished Duplex
    Updated Furnished Duplex

    621 3rd Ave, Two Harbors, MN 55616

    $455,900
    2,473 sqft 0.10 AC lot

    Two-unit property with separate utilities, private laundry, a deck, and off-street parking.

    View details
    Historic Short-Term Rental Property
    Historic Short-Term Rental Property

    400 Silver Street, Ironwood, MI 49938

    $199,000
    2,862 sqft 0.15 AC lot

    Commercially zoned property with multiple bedrooms, kitchens, living areas, and an entertaining bar space.

    View details
    Renovated Mixed-Use Building
    Renovated Mixed-Use Building

    216 AURORA ST E, Ironwood, MI 49938

    $524,900
    0.13 AC lot

    Historic commercial property with office areas, loft accommodations, garage access, and basement storage.

    View details
    Burlington Bay Lake Superior Condos
    Burlington Bay Lake Superior Condos

    1412 Burlington Road, Two Harbors, MN 55616

    Contact for pricing
    1,250 sqft

    Condos with lake views, indoor pool, hot tub, and more.

    View details

    Ely, MN Short Term Rental Properties Market Trends and Statistics

    Explore 1 short term rental properties for sale in Ely, MN on our real estate platform. These investment opportunities span a total of 1,362 square feet of properties for sale, with an estimated market value of $219,000.

    Sale prices for short term rental properties in Ely, MN average $219,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Duplexes 2
    Apartment buildings 1
    Quadplexes 1
    Short term rental properties 1

    Demographics Overview

    Population 5,292
    Population Growth (5Y) -10.5%
    Median Household Income $62,900
    College Educated 54.0%

    High-Yield Neighborhoods for Investment

    Identify Ely submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    55731 $219K

    Taxes & Financing

    Tax Rate (average for all types) 1.56%
    Property Tax per SF $11.67 per SF
    Tax Rate vs County Average 1.02 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in St. Louis County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in St. Louis County

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