Under $500K Investment Properties for Sale in Ely, MN
$ 329,000
ROI
23.5
Cash Flow/m
346- 3 Bed
- 2 Bath
- 2313 sft
1298 Heather St, Ely, MN, 55731
$ 159,000
ROI
25.0Cash Flow/m
234- 2 Bed
- 1 Bath
- 1222 sft
403 E Camp St, Ely, MN, 55731
$ 198,500
ROI
36.0Cash Flow/m
899- 2 Bed
- 2 Bath
- 1636 sft
218 N 1st Ave, Ely, MN, 55731
$ 160,000
ROI
24.5Cash Flow/m
209- 4 Bed
- 3 Bath
- 1590 sft
731 E Camp St, Ely, MN, 55731
Why Invest in Ely, Minnesota?
Investing in Ely, MN properties under $500k offers a unique opportunity for affordable real estate in a scenic northern Minnesota city. This filter caters well to investors seeking stable rental yields, with Ely showing a solid average ROI around 7%. The area experiences steady appreciation and renter occupancy, driven by tourism and local industries. Capitalization rates remain attractive for investors focused on cash flow and long-term growth in this niche market.
7%
Avg. ROI
6%
Rental Yield
5.5%
Cap Rate
$300/mo
Avg. Cash Flow
$900/mo
Avg. Rent
2%
1Y Appreciation
Frequently Asked Questions
Most properties under $500k in Ely include single-family homes and small multi-family units. These options are ideal for investors seeking affordable rental units in a steady market.
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