Is Ely, MN a good place to invest in rental property?

Ely, MN has a median modeled monthly cash flow of $-336 and a median cap rate of 4.2%, on a median sold price of $216,000. Prices changed +8.7% year over year.

What is the average cap rate in Ely, MN?

The median cap rate across recently sold homes in Ely, MN is 4.2%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Ely, MN?

The median sold price in Ely, MN is $216,000 (about $162 per square foot).

Investing in Ely, MN Real Estate

A data-driven snapshot of the Ely, MN rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$216,000Median sold price

$162Median $/sqft

4.2%Median cap rate

$-336Modeled cash flow / mo

+8.7%Appreciation YoY

6.7Months of supply

35Active listings

63Sold (last 12 mo)

What the Ely numbers say

In Ely, MN, the median home sold for $216,000 (about $162 per square foot), and the typical deal models out to a 4.2% cap rate with a median $-336 of monthly cash flow. Sold prices moved +8.7% over the past year. Inventory sits at about 6.7 months of supply. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Minnesota markets to compare

See Ely cash-flowing listings

CashFlowRE ranks every for-sale home in Ely, MN by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Ely deals, or browse the national market data.