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Price: $300K - 500K
Monthly Cash Flow: $1 - $3k+
Home Type: Single Family
Under $500K Investment Properties for Sale in Ely, MN
Airbnb Potential
Listed for sale 1 day ago
$ 148,500
ROI
24.8
Cash Flow/m
210- 2 Bed
- 1 Bath
- 1280 sft
277 N 5th Ave E, Ely, MN, 55731
Currently Rented
Rental Income
Listed for sale 1 day ago
$ 369,000
ROI
23.1Cash Flow/m
342- 2 Bed
- 2 Bath
- 3274 sft
14108 Fall Lake Rd, Ely, MN, 55731
Listed for sale 3 days ago
$ 230,000
ROI
22.7Cash Flow/m
187- 3 Bed
- 2 Bath
- 1350 sft
638 E James St, Ely, MN, 55731
Listed for sale 3 days ago
$ 184,900
ROI
25.5Cash Flow/m
293- 4 Bed
- 2 Bath
- 1450 sft
954 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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