OFF MARKET

Off Market Jul 2025 for $3.5M

$3,145,980

Est. refi paymentEst. refi $22,711/mo

•

6 ba

•

5,250

sq ft

3231 Wolf Lake Rd, Ely, MN 55731

About this home

Ready to make this dream estate your legacy? Burntside Lake Home on Outlet Bay in Ely is now available. Whether watching trout swim upstream, observing eagles dive for fish, or enjoying the serenity of the woodland surroundings, you'll find countless reasons to stay and call Greystone home. Unparalleled living experience in Ely, MN. This one-of-a-kind custom home 5BR/6BA home is being offered for the very first time. Nestled on a sprawling 20-acre estate, this property boasts 1155 ft of pristine shoreline along Burntside Lake's Outlet Bay and the Burntside River. Surrounded by the beauty of nature, this estate is designed for those who seek both luxury and adventure. Greystone offers many features, too many to list, but include: 2 double sided Tulikivi green soapstone fireplaces (one with a pizza oven), two laundry rooms (main floor and 2nd flr), elevator, secret underground passage to the garage and guest rooms, outdoor kitchen, boathouse with patio, walking paths, pole bldg, She Shed

Single-familyProperty Type

2007Year Built

20 acresLot Size

$599Est. Price/Sq.Ft.

2 car garageParking

Listed by Andrea Zupancich • z' Up North Realty

Bought with Member Non • NON-MEMBER

Redfin checked: a few seconds ago

•Source:RAOR #146940

Redfin Estimate

$3,145,980

$354K since sold in July 2025$117K since August

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 315.5% higher than the average sale price ($757K) of 6 comparable homes.

SOLD JUL 17, 2026
$640,000
A
4 beds3 baths3,336 sq ft
2211 Spaulding Dr, Ely, MN 55731
SOLD AUG 12, 2026
$780,000
B
3 beds2 baths1,916 sq ft
1675 Bradach Rd, Ely, MN 55731
SOLD JAN 13, 2026
$1,078,500
C
4 beds3 baths4,300 sq ft
1918 Pine Tree Trl, Ely, MN 55731
SOLD JUN 30, 2026
$439,000
D
3 beds2 baths2,085 sq ft
1493 Inspiration Rd, Ely, MN 55731
SOLD JAN 12, 2026
$725,000
E
4 beds4 baths— sq ft
1883 Lindbeck Rd, Ely, MN 55731
SOLD MAY 6, 2026
$880,000
F
3 beds2 baths— sq ft
1852 Grant Mcmahan Blvd, Ely, MN 55731

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Earn from this home

Refinance

Est. cash available

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Rent

$4,166/mo

Redfin rental estimate

List your home for rent

Market trends in 55731, MN

Last updated August 2026

Buyer's Market

Seller's Market

Buyer's market

Sale-to-List Price

95.2%

+0.5% MoM

Median sale price

$272K

$7K MoM

Avg. days on market

41d

12 days MoM

Recently sold homes

5 MoM

New listings for sale

NEW 32 HRS AGO
$175,000
1 bed— baths290 sq ft
4704 Highway 169, Ely, MN 55731
$317,000
2 beds— baths1,282 sq ft
651 Fernberg Rd, Ely, MN 55731
$246,000
7 beds4 baths2,600 sq ft
429 S 4th Ave Ave E, Ely, MN 55731
3D WALKTHROUGH
$160,000
2 beds1 bath1,064 sq ft
1211 E Camp St, Ely, MN 55731
3D WALKTHROUGH
$648,500
3 beds1 bath1,136 sq ft
5005 N Lake Vermilion, Tower, MN 55790
$749,000
1 bed— baths352 sq ft
2815 Schaeffer Rd, Ely, MN 55731
$799,000
2 beds1 bath988 sq ft
2811 Schaeffer Rd, Ely, MN 55731
See all

Provided by Redfin

Sale history for 3231 Wolf Lake Rd

Date

Event

Price

Public Records

Sep 5, 2025

Sold

$3,500,000

$667/sq ft

LSAR as distributed by WIREX #6114471

Jul 18, 2025

Sold

$3,500,000

$667/sq ft

Jul 1, 2025

Relisted

—

+45

RAOR #146940

Jul 18, 2025

Sold

$3,500,000

$667/sq ft

Jul 12, 2025

Pending

—

Mar 24, 2025

Pending

—

Mar 12, 2025

Price Changed

$3,900,000

$743/sq ft

Jun 24, 2024

Listed

$4,500,000

$857/sq ft

NORTHSTARMLS as Distributed by MLS Grid #6558966

Jul 1, 2025

Contingent

—

Jul 1, 2025

Listing Removed

—

Mar 24, 2025

Pending

—

Mar 12, 2025

Price Changed

$3,900,000

$743/sq ft

Jun 24, 2024

Listed

$4,500,000

$857/sq ft

Public Records

Aug 16, 2006

Sold

$900,000

$171/sq ft

Public Records

Jul 25, 2003

Sold

$195,000

$37/sq ft

Public Records

Sep 12, 2002

Sold

$425,000

$81/sq ft

Year

Property tax

Land + Additions

Assessment*

2026

$18,158 (+12.7%)

$591,700 + $1,155,100

$1,746,800

2025

$16,112 (+8.8%)

$515,600 + $961,300

$1,476,900

2024

$14,814 (+10.3%)

$486,600 + $882,200

$1,368,800

2023

$13,428 (+4.3%)

$414,000 + $733,700

$1,147,700

2022

$12,880 (−3.4%)

$352,400 + $640,000

$992,400

2021

$13,328 (+5.6%)

$352,400 + $640,000

$992,400

2020

$12,626 (+4.0%)

$352,400 + $640,000

$992,400

2019

$12,140 (+0.8%)

$384,400 + $608,300

$992,700

2018

$12,038 (−0.9%)

$384,300 + $608,300

$992,600

2017

$12,144

$384,300 + $608,300

$992,600

2016

$12,136 (+0.9%)

$404,200 + $602,500

$1,006,700

2014

$12,029 (−1.9%)

$451,200 + $556,000

$1,007,200

2013

$12,261

$462,700 + $556,000

$1,018,700

Tax history for 3231 Wolf Lake Rd

Year

Property tax

Land + Additions

Assessment*

2026

$18,158 (+12.7%)

$591,700 + $1,155,100

$1,746,800

2025

$16,112 (+8.8%)

$515,600 + $961,300

$1,476,900

2024

$14,814 (+10.3%)

$486,600 + $882,200

$1,368,800

2023

$13,428 (+4.3%)

$414,000 + $733,700

$1,147,700

2022

$12,880 (−3.4%)

$352,400 + $640,000

$992,400

2021

$13,328 (+5.6%)

$352,400 + $640,000

$992,400

2020

$12,626 (+4.0%)

$352,400 + $640,000

$992,400

2019

$12,140 (+0.8%)

$384,400 + $608,300

$992,700

2018

$12,038 (−0.9%)

$384,300 + $608,300

$992,600

2017

$12,144

$384,300 + $608,300

$992,600

2016

$12,136 (+0.9%)

$404,200 + $602,500

$1,006,700

2014

$12,029 (−1.9%)

$451,200 + $556,000

$1,007,200

2013

$12,261

$462,700 + $556,000

$1,018,700

*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

16.75 Acres

Year renovated

—

Sq. Ft.

3,209

Year built

2007

Style

Single Family Residential

County

St. Louis County

APN

465-0040-05145

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Aug 7, 2026.

Property details

Parking

Parking/Garage Information
Has Garage
# of Garage Spaces: 2
Parking Features: Detached

Interior

Virtual Tour

Heating & Cooling
Has Cooling
Cooling: Central Air
Has Heating
Heating: Forced Air, Propane

Interior Features
Appliances: Dishwasher, Dryer, Electric Range, Microwave, Refrigerator, Washer, Electric Water Heater
Has Fireplace
# of Fireplaces: 2

Room Information
Laundry Features: Electric Dryer Hookup
Has Basement
Basement Details: Full, Walk-Out Access, Block

Exterior

Exterior Features
Patio And Porch Features: Patio, Deck
Fencing: None
Roof: Metal

Building Information
# of Stories Total: 2
Construction Materials: Frame, Stone, Wood Siding

Property Features
Waterfront Features: Lake

Property Information
Property Type: Residential
Property Sub Type: Single Family Residence

Lot Information
Lot Features: Irregular Lot
Water Body Name: burntside lake
Lot Size : 644 x471
Lot Size Acres: 20

Utilities

Utility Information
Water Source: Well, Private
Sewer: Septic Tank

Location

Schools Information
School District: Ely-696

Public facts

Beds: 4
Baths: 3.0
Sq. Ft.: 3,209
Stories: 2.0
Lot Size: 16.75 acres
Style: Single Family Residential
Year Built: 2007
Year Renovated: —
County: St. Louis County
APN: 465-0040-05145

Home facts updated by county records on Aug 7, 2026

Around this home

Schools

Washington Elementary School

Public PreK-5 • Assigned • 7.6mi

6/10

Memorial Middle School

Public 6-8 • Assigned • 7.6mi

7/10

Memorial Secondary

Public 9-12 • Assigned • 7.6mi

9/10

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 91° 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

Try the sun simulator tool to see how light moves across the property at different times of day and year.

Provided by Shadowmap

Is this your home?

Track this home’s value and nearby sales activity

Nearby similar homes

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New listings for sale in 55731

NEW 32 HRS AGO

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$317,000

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429 S 4th Ave Ave E, Ely, MN 55731

3D WALKTHROUGH

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3D WALKTHROUGH

$648,500

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Home values near 3231 Wolf Lake Rd

Data from public records.

Address	Redfin Estimate
3245 Wolf Lake Rd, Ely, MN 5 Beds \| 6 Baths \| - Sq. Ft.	$2,217,547
3165 Wolf Lake Rd, Ely, MN 3 Beds \| 2 Baths \| 2220 Sq. Ft.	$763,641

Address	Redfin Estimate
3230 Wolf Lake Rd, Ely, MN 1 Beds \| 1 Baths \| 1150 Sq. Ft.	$310,331
3233 Wolf Lake Rd, Ely, MN 4 Beds \| 4 Baths \| 2994 Sq. Ft.	$1,751,429

Address	Redfin Estimate
3147 Wolf Lake Rd, Ely, MN 3 Beds \| 3 Baths \| 2563 Sq. Ft.	$657,485
3325 Wolf Lake Rd, Ely, MN 3 Beds \| 2 Baths \| 1905 Sq. Ft.	$699,941

Property information provided by RAOR when last listed in 2024. This data may not match . Learn more.

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