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

Ely, MN has a median modeled monthly cash flow of $-388 and a median cap rate of 3.8%, on a median sold price of $215,000. Prices changed +6.1% year over year.

What is the average cap rate in Ely, MN?

The median cap rate across recently sold homes in Ely, MN is 3.8%, 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 $215,000 (about $156 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.

$215,000Median sold price

$156Median $/sqft

3.8%Median cap rate

$-388Modeled cash flow / mo

+6.1%Appreciation YoY

12.0Months of supply

51Active listings

51Sold (last 12 mo)

What the Ely numbers say

In Ely, MN, the median home sold for $215,000 (about $156 per square foot), and the typical deal models out to a 3.8% cap rate with a median $-388 of monthly cash flow. Sold prices moved +6.1% over the past year. Inventory sits at about 12.0 months of supply — a looser, buyer-friendly market. 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.