OFF MARKET

Off Market Aug 2019 for $550K

$1,073,402

•

2,188

sq ft

3200 Shady Rst, Ely, MN 55731

About this home

Attractive 3 bedroom, 2 bath, log home on one of Ely's more popular lakes with great western views of lake. Home has wrap around covered deck and is wheelchair accessible. Fully finished walkout basement has a bedroom, 3/4 bath and its own kitchen. Basement could function as a separate living space. Large windows in living room allow good views of lake while sitting in front of the large stone wood burning fireplace. Loft is mainly a bedroom with a small reading room. All 3 bedrooms are large with plenty of closet space. Property includes a 2 stall log garage with full upstairs for office or storage space. A third log building is 32 x 24, is insulated and heated and could be used for a variety of purposes. It was originally a professional workshop. Property also has a circular driveway, compliant septic system, drilled well, level shoreline, good swimming area by dock and privacy.

Single-familyProperty Type

1991Year Built

2.22 acresLot Size

$491Est. Price/Sq.Ft.

2 car garageParking

Listed by Phil Hyde

Bought with Jim Burke • Bear Island Land Co., Inc

Redfin checked: a minute ago

•Source:LSAR #6084486

Redfin Estimate

$1,073,402

$523K since sold in August 2019$25K since July

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 79.8% higher than the average sale price ($597K) of 6 comparable homes.

SOLD FEB 6, 2026
$710,000
A
3 beds2 baths— sq ft
540 Loop Rd, Ely, MN 55731
SOLD JUL 31, 2026
$519,000
B
3 beds2 baths1,320 sq ft
413 Sunset Rd, Ely, MN 55731
SOLD SEP 4, 2025
$735,000
C
3 beds2 baths2,189 sq ft
118 Onigum Trl, Ely, MN 55731
SOLD JUL 29, 2026
$249,000
D
3 beds1.5 baths1,480 sq ft
1419 E Chapman St, Ely, MN 55731
SOLD AUG 29, 2025
$930,000
E
3 beds2 baths2,042 sq ft
142 Onigum Trl, Ely, MN 55731
SOLD JUN 30, 2026
$439,000
F
3 beds2 baths2,085 sq ft
1493 Inspiration Rd, Ely, MN 55731

Claim this home to receive a free report every month with insights on the changing estimate.

Earn from this home

Rent

$2,294/mo

Redfin rental estimate

List your home for rent

Market trends in 55731, MN

Last updated July 2026

Buyer's Market

Seller's Market

Buyer's market

Sale-to-List Price

94.7%

0.3% MoM

Median sale price

$265K

$31K MoM

Avg. days on market

53d

0 days MoM

Recently sold homes

9 MoM

New listings for sale

NEW 31 HRS AGO
$749,000
1 bed— baths352 sq ft
2815 Schaeffer Rd, Ely, MN 55731
NEW 31 HRS AGO
$799,000
2 beds1 bath988 sq ft
2811 Schaeffer Rd, Ely, MN 55731
$259,000
3 beds1 bath1,064 sq ft
308 S 8th Ave. Ave E, Ely, MN 55731
$684,500
3 beds2 baths1,806 sq ft
214 Cedar Ln, Ely, MN 55731
VIDEO TOUR
$887,900
2 beds1 bath525 sq ft
3530 North Arm Rd, Ely, MN 55731
$117,000
3 beds1 bath918 sq ft
31 E Harvey St, Ely, MN 55731
3D WALKTHROUGH
$395,000
2 beds1 bath955 sq ft
13412 Bear Paw Trl, Ely, MN 55731
3D WALKTHROUGH
$449,000
2 beds2 baths1,389 sq ft
1772 Hwy 120, Ely, MN 55731
3D WALKTHROUGH
$850,000
3 beds2 baths1,904 sq ft
14653 & 14655 Hulstrand Rd, Ely, MN 55731
3D WALKTHROUGH
$370,000
2 beds1 bath728 sq ft
1583 Jewel Ridge Rd, Ely, MN 55731
See all

Provided by Redfin

Sale history for 3200 Shady Rst

Year

Property tax

Land + Additions

Assessment*

2026

$7,635 (+4.3%)

$226,300 + $792,700

$1,019,000

2025

$7,321 (+72.8%)

$240,500 + $709,000

$949,500

2024

$4,236 (+13.2%)

$211,100 + $716,800

$927,900

2023

$3,743 (−32.9%)

$209,500 + $552,700

$762,200

2022

$5,575 (+8.1%)

$200,500 + $376,200

$576,700

2021

$5,156 (+4.8%)

$200,500 + $330,800

$531,300

2020

$4,918 (+1.0%)

$215,700 + $321,700

$537,400

2019

$4,871 (−3.9%)

$215,700 + $322,600

$538,300

2018

$5,069 (+19.2%)

$226,300 + $325,800

$552,100

2017

$4,252 (+1.8%)

$215,700 + $274,100

$489,800

2016

$4,175 (+5.3%)

$215,700 + $277,100

$492,800

2015

$3,964 (+19.8%)

$215,700 + $245,000

$460,700

2013

$3,308

$237,100 + $249,600

$486,700

Tax history for 3200 Shady Rst

Year

Property tax

Land + Additions

Assessment*

2026

$7,635 (+4.3%)

$226,300 + $792,700

$1,019,000

2025

$7,321 (+72.8%)

$240,500 + $709,000

$949,500

2024

$4,236 (+13.2%)

$211,100 + $716,800

$927,900

2023

$3,743 (−32.9%)

$209,500 + $552,700

$762,200

2022

$5,575 (+8.1%)

$200,500 + $376,200

$576,700

2021

$5,156 (+4.8%)

$200,500 + $330,800

$531,300

2020

$4,918 (+1.0%)

$215,700 + $321,700

$537,400

2019

$4,871 (−3.9%)

$215,700 + $322,600

$538,300

2018

$5,069 (+19.2%)

$226,300 + $325,800

$552,100

2017

$4,252 (+1.8%)

$215,700 + $274,100

$489,800

2016

$4,175 (+5.3%)

$215,700 + $277,100

$492,800

2015

$3,964 (+19.8%)

$215,700 + $245,000

$460,700

2013

$3,308

$237,100 + $249,600

$486,700

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Beds

Baths

—

Stories

—

Lot width

—

Lot depth

—

Lot size

2.22 Acres

Year renovated

2005

Sq. Ft.

1,288

Year built

1991

Style

Single Family Residential

County

Lake County

APN

28-6225-01090

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Aug 12, 2026.

Property details

Parking

Parking/Garage Information
Has Garage
# of Garage Spaces: 2
Parking Features: Gravel, Garage Door Opener, Detached

Interior

Bathroom Information
# of Three Quarter Bathrooms: 2

Heating & Cooling
Has Heating
Heating: Baseboard, Fireplace(s), Radiant, Propane

Interior Features
Interior Features: Ceiling Fan(s), Vaulted Ceiling(s), Beamed Ceilings, Breakfast Bar, Master Downstairs
Window Features: Screens, Wood Frames, ENERGY STAR Qualified Windows
Flooring: Hardwood, Tile
Has Fireplace
# of Fireplaces: 1
Fireplace Features: Wood Burning

Room Information
Laundry Features: Washer Hookup
Has Basement
Basement Details: Full, Finished

Exterior

Exterior Features
Exterior Features: Dock
Patio And Porch Features: Porch
Roof: Asphalt, Shingle

Building Information
Above Grade Finished Area: 1,288
Below Grade Finished Area: 900
# of Stories Total: 1
Construction Materials: Log

Property Features
On Waterfront
Waterfront Features: Lake
Has View
Other Structures: Workshop

Property Information
Property Type: Residential
Property Sub Type: Single Family Residence
Raw Mls Property Sub Type: Single Family Detached

Lot Information
Lot Features: Many Trees
Water Body Name: White Iron
Road Responsibility: Public Maintained Road
Road Frontage Type: County Road
Lot Size Dimensions: 440 x 210
Lot Size Acres: 2.22

Financial

Tax Information
Tax Annual Amount: $4,870.80

Utilities

Utility Information
Water Source: Private
Sewer: Private Sewer

Location

Schools Information
High School District: Lake Superior #381

Location Information
Directions: From Ely, travel east on Hwy 169 to Kawishiwi Trail. Turn right and follow to Sunset Road. Turn right and follow to Big Rock Road. Turn and follow to T intersection, look for property address.

Public facts

Beds: 3
Baths: —
Sq. Ft.: 1,288
Stories: —
Lot Size: 2.22 acres
Style: Single Family Residential
Year Built: 1991
Year Renovated: 2005
County: Lake County
APN: 28-6225-01090

Home facts updated by county records on Aug 12, 2026

Around this home

Schools

Minnehaha Elementary School

Public PreK-5 • Assigned • 59.4mi

6/10

Two Harbors Secondary

Public 6-12 • Assigned • 57.6mi

7/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

2/10 Fire Factor

0.00% chance of being in a wildfire in next 30 years

1/10 Heat Factor

7 days above 92° expected this year, 12 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

2/10 Air Factor

0 unhealthy days expected this year, 1 days in 30 years

Provided by First Street

Historical weather

Ely, MN • 55731

Average low and high temperatures (°F)

-5

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 8.4 hours in June and 2.7 hours in December, placing it below the U.S. average for solar exposure.

8.4 hrs

2.7 hrs

JuneDecember

Provided by Shadowmap

Is this your home?

Track this home’s value and nearby sales activity

Nearby similar homes

3D WALKTHROUGH

$449,000

2 beds2 baths1,389 sq ft

1772 Hwy 120, Ely, MN 55731

$249,000

2 beds1 bath912 sq ft

296 Shady Ln, Ely, MN 55731

3D WALKTHROUGH

$499,999

2 beds2 baths2,382 sq ft

2762 Cedar Lake Rd, Ely, MN 55731

$499,900

2 beds2 baths2,189 sq ft

5758 Puncher Point Rd, Tower, MN 55790

$147,000

2 beds1 bath1,188 sq ft

512 2nd St St N, Tower, MN 55790

$275,000

2 beds— baths426 sq ft

5298 Long Is, Tower, MN 55790

New listings for sale in 55731

NEW 31 HRS AGO

$749,000

1 bed— baths352 sq ft

2815 Schaeffer Rd, Ely, MN 55731

NEW 31 HRS AGO

$799,000

2 beds1 bath988 sq ft

2811 Schaeffer Rd, Ely, MN 55731

$259,000

3 beds1 bath1,064 sq ft

308 S 8th Ave. Ave E, Ely, MN 55731

$684,500

3 beds2 baths1,806 sq ft

214 Cedar Ln, Ely, MN 55731

VIDEO TOUR

$887,900

2 beds1 bath525 sq ft

3530 North Arm Rd, Ely, MN 55731

$117,000

3 beds1 bath918 sq ft

31 E Harvey St, Ely, MN 55731

3D WALKTHROUGH

$395,000

2 beds1 bath955 sq ft

13412 Bear Paw Trl, Ely, MN 55731

3D WALKTHROUGH

$449,000

2 beds2 baths1,389 sq ft

1772 Hwy 120, Ely, MN 55731

3D WALKTHROUGH

$850,000

3 beds2 baths1,904 sq ft

14653 & 14655 Hulstrand Rd, Ely, MN 55731

Home values near 3200 Shady Rst

Data from public records.

Address	Redfin Estimate
3203 Shady Rest, Ely, MN 2 Beds \| 2.5 Baths \| 4320 Sq. Ft.	$623,791
221 Sunset Road, Ely, MN 3 Beds \| - Baths \| 2202 Sq. Ft.	—

Address	Redfin Estimate
3242 Shady Rest, Ely, MN 3 Beds \| - Baths \| 1200 Sq. Ft.	$716,240
260 Sunset Road, Ely, MN 1 Beds \| - Baths \| - Sq. Ft.	$317,229

Address	Redfin Estimate
3248 Shady Rest, Ely, MN 1 Beds \| 1 Baths \| 3206 Sq. Ft.	$895,959
3248 Big Rock Drive, Ely, MN - Beds \| - Baths \| - Sq. Ft.	$1,404,539

Property information provided by LSAR when last listed in 2019. This data may not match . Learn more.

More real estate resources

Zip Codes
Cities
Popular Searches

Join us

Find homes faster

About us

Find us

Subsidiaries

Affiliated Business

Countries

United States

Canada

Updated September 2025: By searching, you agree to the Terms of Use, and Privacy Policy.

Do not sell or share my personal information.

REDFIN and all REDFIN variants, WALK SCORE, and the R logos, are trademarks of Redfin Corporation, registered or pending in the USPTO.

California DRE #01521930

Redfin is licensed to do business in New York as Redfin Real Estate. NY Standard Operating Procedures

New Mexico Real Estate Licenses

TREC: Info About Brokerage Services, Consumer Protection Notice

All mortgage lending products and information are provided by Rocket Mortgage, LLC | NMLS #3030; www.NMLSConsumerAccess.org. Licensed in 50 states. This site is not authorized by the New York State Department of Financial Services for mortgage solicitation or loan applications activities related to properties located in the State of New York.

Redfin Corporation is an affiliated business of Rocket Limited Partnership. Each company, and their subsidiaries, are separate legal entities operated and managed through its own management and governance structures.

If you are using a screen reader, or having trouble reading this website, please call Redfin Customer Support for help at 1-844-759-7732.

REDFIN IS COMMITTED TO AND ABIDES BY THE FAIR HOUSING ACT AND EQUAL OPPORTUNITY ACT. READ REDFIN'S FAIR HOUSING POLICY AND THE NEW YORK STATE FAIR HOUSING NOTICE.

GreatSchools Ratings provided by GreatSchools.org.

Houses for sale near me	Minneapolis, MN homes for sale	Eagan, MN homes for sale
Land for sale near me	St. Paul, MN homes for sale	Minnetonka, MN homes for sale
Open Houses near me	Edina, MN homes for sale	Ely Property Records
Condos for sale near me	Plymouth, MN homes for sale	MN New Listings
Agents near me	Woodbury, MN homes for sale	Ely Housing Market