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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
Listed for sale 5 days ago
$ 117,000
ROI
24.6
Cash Flow/m
157- 3 Bed
- 1 Bath
- 918 sft
31 E Harvey St, Ely, MN, 55731
$ 224,000
ROI
23.0Cash Flow/m
204- 3 Bed
- 1 Bath
- 560 sft
3297 Aspen Ln, Ely, MN, 55731
$ 279,900
ROI
28.1Cash Flow/m
652- 1 Bed
- 2 Bath
- 800 sft
116 Fall Lake Dr, Ely, MN, 55731
$ 299,000
ROI
27.1Cash Flow/m
611- 3 Bed
- 2 Bath
- 1680 sft
101 W Railroad 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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