Under $300K Investment Properties for Sale in Ely, MN
533- 1 Bed
- 1 Bath
- 1160 sft
717- 4 Bed
- 2 Bath
- 1400 sft
161- 2 Bed
- 2 Bath
- 1058 sft
652- 3 Bed
- 2 Bath
- 1408 sft
Why Invest in Ely, Minnesota?
Investing in Ely, MN under $300k offers unique opportunities in a growing northern city known for its natural beauty and tourism. With an average ROI of 6% and a cap rate around 7%, investors can expect steady cash flow and rental yields near 8%. The local market features strong renter occupancy at 62%, making it a viable option for affordable, high-potential properties. Appreciation sits modestly at 2.5%, reflecting steady growth aligned with regional economic improvements and outdoor tourism demand.
Frequently Asked Questions
Properties under $300k in Ely primarily include single-family homes, small multi-family units, and condos. These affordable options are attractive to investors targeting steady rental income and seasonal rental markets.
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