SOLD FEB 6, 2026

Off Market Feb 2026 for $710K

$675,656

Est. refi paymentEst. refi $3,108/mo

•

—

sq ft

540 Loop Rd, Ely, MN 55731

About this home

Here's a Northwoods retreat people dream about but rarely find. This handcrafted log home on Farm Lake wraps you in warmth the moment you walk in — over 2,400 sq ft, wrapped in timber and sunlight. The main level is designed for togetherness: new custom kitchen cabinets, quartz countertops, a comfortable dining area, and a living room anchored by a cozy wood-burning stove. Two bedrooms & a full bath complete this level. Head up to the 700+ sq ft loft, with soaring ceilings, built-ins, and sweeping views make the space feel tucked-away and inspiring an artist’s nook or simply reading a book while the pines sway outside your window. The walk-out level is its own retreat, featuring the Primary Suite, a utility/laundry room, and a rec room made for hosting. Private woods take you to the 220 ft of shoreline. Incredible view from the custom built 100 ft perm newer dock, complete with benches and a kayak step, makes slipping into the lake a breeze Best of all the BWCA is just a paddle away.

Single-familyProperty Type

2005Year Built

2.62 acresLot Size

2 car garageParking

Listed by Andrea Zupancich • Z'Up North Realty, Inc.

Redfin checked: 2 minutes ago

•Source:NORTHSTARMLS as Distributed by MLS Grid #7000151

Redfin Estimate

$675,656

$34K since sold in February 2026$1,000 since July

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 30.1% higher than the average sale price ($519K) of 6 comparable homes.

SOLD NOV 12, 2025
$198,000
A
3 beds1.75 baths1,680 sq ft
36 E Beacon Hill Rd, Ely, MN 55731
SOLD JUL 31, 2026
$519,000
B
3 beds2 baths1,320 sq ft
413 Sunset Rd, Ely, MN 55731
SOLD AUG 29, 2025
$930,000
C
3 beds2 baths2,042 sq ft
142 Onigum Trl, Ely, MN 55731
SOLD JUN 30, 2026
$439,000
D
3 beds2 baths2,085 sq ft
1493 Inspiration Rd, Ely, MN 55731
SOLD DEC 8, 2025
$419,000
E
3 beds2 baths2,281 sq ft
386 Garden Lake Rd, Ely, MN 55731
SOLD JUL 29, 2026
$610,000
F
2 beds2 baths— sq ft
1787 N Bay Rd, Ely, MN 55731

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Earn from this home

Refinance

Est. cash available

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Rent

$1,791/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

$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
$710,000
3 beds3 baths1,427 sq ft
1756 Grant Mcmahan Blvd, Ely, MN 55731
3D WALKTHROUGH
$395,000
2 beds1 bath760 sq ft
1736 N Grassy Rd, Ely, MN 55731
See all

Provided by Redfin

Sale history for 540 Loop Rd

Date

Event

Price

Public Records

Mar 9, 2026

Sold

$709,000

NORTHSTARMLS as Distributed by MLS Grid #7000151

Feb 6, 2026

Sold

$710,000

Dec 23, 2025

Contingent

—

Dec 16, 2025

Listed

$719,900

LSAR #6123162

Feb 6, 2026

Sold

$710,000

Jan 18, 2026

Pending

—

Dec 15, 2025

Listed

$719,900

+15

RAOR #149371

Feb 6, 2026

Sold

$710,000

Jan 30, 2026

Pending

—

Dec 10, 2025

Listed

$719,900

+28

LSAR #6094388

Feb 4, 2021

Sold

$335,000

Dec 15, 2020

Listed

$335,000

Public Records

Jul 17, 2013

Sold

$240,000

NORTHSTARMLS as Distributed by MLS Grid #MAM6000462

Feb 15, 2013

Listed

$250,000

NORTHSTARMLS as Distributed by MLS Grid #MAM6000174

Oct 16, 2012

Listed

$250,000

Public Records

Jan 6, 2005

Sold

$65,000

Public Records

Sep 15, 2000

Sold

$37,000

Year

Property tax

Land + Additions

Assessment*

2026

$2,487 (−4.9%)

$143,082 + $336,838

$479,920

2025

$2,615 (+49.2%)

$143,179 + $340,447

$483,626

2024

$1,753 (+49.9%)

$135,800 + $342,500

$478,300

2023

$1,169 (−31.0%)

$126,355 + $178,120

$304,475

2022

$1,694 (+6.2%)

$116,984 + $110,428

$227,412

2021

$1,596 (−15.7%)

$115,785 + $96,040

$211,825

2020

$1,894 (+0.7%)

$130,275 + $97,028

$227,303

2019

$1,881 (−4.9%)

$130,372 + $98,130

$228,502

2018

$1,978 (+17.2%)

$137,342 + $99,662

$237,004

2017

$1,688 (+2.9%)

$129,022 + $82,585

$211,607

2016

$1,641 (−3.0%)

$129,000 + $82,600

$211,600

2015

$1,691

$129,100 + $83,600

$212,700

Tax history for 540 Loop Rd

Year

Property tax

Land + Additions

Assessment*

2026

$2,487 (−4.9%)

$143,082 + $336,838

$479,920

2025

$2,615 (+49.2%)

$143,179 + $340,447

$483,626

2024

$1,753 (+49.9%)

$135,800 + $342,500

$478,300

2023

$1,169 (−31.0%)

$126,355 + $178,120

$304,475

2022

$1,694 (+6.2%)

$116,984 + $110,428

$227,412

2021

$1,596 (−15.7%)

$115,785 + $96,040

$211,825

2020

$1,894 (+0.7%)

$130,275 + $97,028

$227,303

2019

$1,881 (−4.9%)

$130,372 + $98,130

$228,502

2018

$1,978 (+17.2%)

$137,342 + $99,662

$237,004

2017

$1,688 (+2.9%)

$129,022 + $82,585

$211,607

2016

$1,641 (−3.0%)

$129,000 + $82,600

$211,600

2015

$1,691

$129,100 + $83,600

$212,700

*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

2.62 Acres

Year renovated

2005

Sq. Ft.

1,020

Year built

2005

Style

Single Family Residential

County

Lake County

APN

28-6311-33337

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Aug 12, 2026.

Property details

Parking

Parking Information
Garage Spaces: 2
Garage Dimensions: 24 x 26
Garage Sq. Ft.: 572

Interior

Virtual Tour

Bedroom Information
# of Bedrooms: 3

Bathroom Information
# of Full Baths (Total): 1
# of Three Quarter Baths (Total): 1
Description: Main Floor Full Bath

Room 1 Information
Room Type: Family Room
Room Dimensions: 16 x 122
Room Level: Lower

Room 2 Information
Room Type: Bedroom
Room Dimensions: 10 x 11
Room Level: Main

Room 3 Information
Room Type: Kitchen
Room Dimensions: 10 x 13
Room Level: Main

Room 4 Information
Room Type: Living Room
Room Dimensions: 13 x 23
Room Level: Main

Room 5 Information
Room Type: Loft
Room Dimensions: 29 x 27
Room Level: Upper

Room 6 Information
Room Type: Bedroom 2
Room Dimensions: 10 x 10
Room Level: Main

Room 7 Information
Room Type: Bedroom 3
Room Dimensions: 10 x 16
Room Level: Lower

Room 8 Information
Room Type: Utility Room
Room Dimensions: 12 x 11
Room Level: Lower

Basement Information
Has Basement
Basement Features: Block, Finished, Full

Other Rooms Information
Main Floor Bedroom

Fireplace Information
Has Fireplace
# of Fireplaces: 1
Fireplace Features: Wood Burning

Heating & Cooling
Heating Information: Baseboard
Cooling Information: Window Unit(s)

Interior Features
Appliances: Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Washer

Exterior

Building Information
Construction Materials: Frame
Foundation Area: 850
Roof: Asphalt

Exterior Features
Patio Porch Type: Covered,Deck,Enclosed,Porch,Screened

Property Information
Above Ground Total Sq. Ft.: 1,630
Below Ground Total Sq. Ft.: 850
FractionalOwnershipYN: No
Property Type: Residential
Property Sub Type: Single Family Residence
Above Grade Finished Area: 1,630
Below Grade Finished Area: 850

Lot Information
Lot Size Area: 2.62
Lot Size Units: Acres
Lot Size Dimensions: 225.00 x 475.00

Financial

Assessment Information
Other Annual Assessment Amount: $2,700

Tax Information
Tax Annual Amount: $2,502
Tax Year: 2025
Tax With Assessments: $2,615

Utilities

Utility Information
Water Source: Drilled
Electric: 200+ Amp Service
Power Company Name: Minnesota Power
Sewer: Mound Septic
Fuel: Electric,Wood

Location

School Information
High School District: Lake Superior
School District Number: 1544
School District Phone: 2188348216

Location Information
Directions: Hwy 169 N to Kawishiwi Trail, Right to Bay Road, Left to Loop Road, right to fire number.
Map Coordinate: 999-A1

Public facts

Beds: 2
Baths: 1.0
Sq. Ft.: 1,020
Stories: —
Lot Size: 2.62 acres
Style: Single Family Residential
Year Built: 2005
Year Renovated: 2005
County: Lake County
APN: 28-6311-33337

Home facts updated by county records on Aug 12, 2026

Other

Home Information
Living Area: 2480
Living Area Units: Square Feet
Main Level Finished Area: 1630
Foundation Dimensions: 28 x 30
Levels: One and One Half

Around this home

Schools
Places
Transit

Minnehaha Elementary School

Public PreK-5 • Assigned • 60.9mi

6/10

Two Harbors Secondary

Public 6-12 • Assigned • 59.1mi

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

1/10 Fire Factor

Unlikely to be 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?

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Home values near 540 Loop Rd

Data from public records.

Address	Redfin Estimate
549 Loop Road, Ely, MN 5 Beds \| - Baths \| 5128 Sq. Ft.	$869,255
582 Kellys Lots, Ely, MN 2 Beds \| - Baths \| 1456 Sq. Ft.	$699,121

Address	Redfin Estimate
528 Loop Road, Ely, MN 4 Beds \| 2 Baths \| 1640 Sq. Ft.	$424,796
562 Kellys Lots, Ely, MN 2 Beds \| 1 Baths \| 1032 Sq. Ft.	$450,085

Address	Redfin Estimate
13487 Bay Road, Ely, MN 3 Beds \| - Baths \| 2160 Sq. Ft.	$907,233
519 Voyageur Road, Ely, MN 4 Beds \| - Baths \| 2380 Sq. Ft.	$567,224

Property information provided by NORTHSTARMLS as Distributed by MLS Grid when last listed in 2025. This data may not match . Learn more.

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