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Sold for $770,000
    • $770,000

    2445 Reed Rd, Ely, MN 55731

    4beds
    4,872sqft
    Single Family Residence
    Built in 1996
    5.5 Acres Lot
    $772,600 Zestimate®
    $158/sqft
    $3,628 Estimated rent

    Home value

    $772,600

    $734,000 - $811,000

    $3,628/mo

    Zestimate® history
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    What's special

    Lots of additional spaceFlexible living arrangements
    Burntside Lake Retreat – 5.5 Acres with Sandy Shoreline in Highly Sought-After Ely, MN Location! Welcome to a truly rare opportunity on the legendary Burntside Lake, known for its crystal-clear waters, dramatic scenery, and exceptional recreational quality. This year-round Northwoods retreat is set on 5.5 acres with towering pines, privacy, and one of the most desirable sandy, west-facing shorelines on the lake—perfect for swimming, sunbathing, and unforgettable sunsets. The expansive 4,872 sq ft home is as unique as the setting itself, offering three separate yet connected living areas under one roof. Each section includes its own kitchen, bathroom, and living room, allowing for flexible living arrangements—ideal for hosting family, friends, or multi-generational use. These spaces can be opened up for large gatherings or closed off for added privacy. In total, the home features 4 bedrooms, 3 bathrooms, 3 full kitchens and lots of additional space. Tucked just off the main home is a charming 16’ x 24’ dry guest cabin, surrounded by woods and perfect for additional guests, creative space, or quiet retreat. Located on one of the most coveted stretches of Burntside Lake, this property offers the best of lake life in a peaceful and community-focused environment. Burntside is one of Minnesota’s most sought-after lakes—celebrated for its clean waters, stunning shoreline, and proximity to the Boundary Waters Canoe Area Wilderness and Ely’s vibrant community. This is more than a home—it’s a legacy property in a premier location.

    Zillow last checked:

    Listing updated:

    Listed by:

    Lori Schulze 218-343-1787,

    Keller Williams Classic Realty NW - Ely,

    Heather Franciskovich 218-235-3895,

    Keller Williams Classic Realty NW - Ely

    Bought with:

    Lori Schulze, MN 20443772

    Keller Williams Classic Realty NW - Ely

    Source: Lake Superior Area Realtors as distributed by MLS GRID,MLS#: 6124998MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 4
    • Bathrooms: 3
    • 3/4 bathrooms: 3
    Rooms
    • Room types: Den/Office, Family/Rec, Second Kitchen, Storage Room, Utility Room, Great Room, Entry, Bonus Room
    Bedroom
    • Level: Lower
    • Area: 108 Square Feet
    • Dimensions: 9 x 12
    Bedroom
    • Level: Main
    • Area: 147 Square Feet
    • Dimensions: 10.5 x 14
    Bedroom
    • Level: Main
    • Area: 196 Square Feet
    • Dimensions: 14 x 14
    Bedroom
    • Level: Main
    • Area: 150 Square Feet
    • Dimensions: 12 x 12.5
    Bonus room
    • Level: Main
    • Area: 154 Square Feet
    • Dimensions: 11 x 14
    Entry hall
    • Level: Main
    • Area: 310.5 Square Feet
    • Dimensions: 11.5 x 27
    Great room
    • Description: Kitchen & Living Room combined
    • Level: Lower
    • Area: 432 Square Feet
    • Dimensions: 18 x 24
    Kitchen
    • Level: Main
    • Area: 204.75 Square Feet
    • Dimensions: 10.5 x 19.5
    Kitchen
    • Level: Main
    • Area: 214.5 Square Feet
    • Dimensions: 11 x 19.5
    Laundry
    • Level: Main
    • Area: 105 Square Feet
    • Dimensions: 10 x 10.5
    Living room
    • Level: Main
    • Area: 331.5 Square Feet
    • Dimensions: 17 x 19.5
    Living room
    • Level: Main
    • Area: 312 Square Feet
    • Dimensions: 16 x 19.5
    Heating
    • Baseboard, Dual Fuel/Off Peak, Fireplace(s), Radiant, Wood, Electric
    Appliances
    • Laundry: Main Level
    Features
    • Ceiling Fan(s), Eat In Kitchen, Kitchen Island, Natural Woodwork
    • Basement: Partial,Egress Windows,Finished,Partially Finished,Walkout,Bath,Bedrooms,Family/Rec Room,Kitchen
    • Number of fireplaces: 1
    • Fireplace features: Wood Burning
    Interior area
    • Total interior livable area: 4,872 sqft
    • Finished area above ground: 3,248
    • Finished area below ground: 1,624

    Property

    Parking
    • Total spaces: 1
    • Parking features: Gravel, Detached
    • Garage spaces: 1
    Features
    • Patio & porch: Deck
    • Exterior features: Dock
    • Has view: Yes
    • View description: Inland Lake
    • Has water view: Yes
    • Water view: Lake
    • Waterfront features: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Sand, Shore-Accessible, Shore-Beach, Shore-Vegetation)
    • Body of water: Burntside
    • Frontage length: 215
    Lot
    • Size: 5.5 Acres
    • Features: Irregular Lot, Tree Coverage - Heavy, High, BWCA Access
    Details
    • Additional structures: Greenhouse, Screenhouse, Storage Shed, Guest House, Other
    • Foundation area: 3248
    • Parcel number: 465004900040
    • Zoning description: Residential

    Construction

    Type & style
    • Home type: SingleFamily
    • Architectural style: Ranch
    • Property subtype: Single Family Residence
    Materials
    • Wood, Frame/Wood
    • Foundation: Concrete Perimeter
    • Roof: Asphalt Shingle
    Condition
    • Year built: 1996

    Utilities & green energy

    • Electric: Lake Country Power
    • Sewer: Private Sewer
    • Water: Drilled

    Community & HOA

    HOA
    • Has HOA: No
    Location
    • Region: Ely

    Financial & listing details

    • Price per square foot: $158/sqft
    • Tax assessed value: $964,900
    • Annual tax amount: $9,285
    • Date on market: 5/5/2026
    • Cumulative days on market: 80 days
    • Listing terms: Cash,Conventional

    Price history

    DateEventPrice
    9/25/2026Sold$770,000-22.6%$158/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6124998 Report a problem
    8/31/2026Pending sale$995,000$204/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6124998 Report a problem
    6/6/2026Price change$995,000-9.1%$204/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6124998 Report a problem
    5/5/2026Listed for sale$1,095,000$225/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6124998 Report a problem
    12/4/2025Listing removed$1,095,000$225/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6119844 Report a problem
    10/2/2025Price change$1,095,000-8.4%$225/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6119844 Report a problem
    8/13/2025Price change$1,195,000-4%$245/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6119844 Report a problem
    7/24/2025Price change$1,245,000-3.9%$256/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6119844 Report a problem
    6/4/2025Listed for sale$1,295,000$266/sqft
    Source: Lake Superior Area Realtors as distributed by MLS GRID #6119844 Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$8,000 +4.6%$964,900 +17.5%
    2024$7,650 +11.6%$821,300 +5.4%
    2023$6,854 +8%$779,100 +18.8%
    2022$6,344 +0.6%$655,600 +16%
    2021$6,304 $565,300
    2020$6,304 $565,300
    2019$6,304 +2.2%$565,300 -1%
    2018$6,168 -0.8%$570,900
    2017$6,220 +0.8%$570,900
    2016$6,168 -0.9%$570,900 -2.7%
    2015$6,226 -1.5%$586,600 +1.8%
    2014$6,324 +1.1%$576,000
    2013$6,258 -10%$576,000 -12.3%
    2012$6,956 +67.3%$656,700 +35.5%
    2011$4,158 +42.3%$484,800 +36.2%
    2010$2,922 $355,900
    2009$2,922 -9.1%$355,900
    2008$3,216 -0.3%$355,900 +7.1%
    2007$3,227 +42.7%$332,200 +14.9%
    2006$2,261 -4.7%$289,200 +21.6%
    2004$2,373 +10.8%$237,800 +12%
    2003$2,142 +17.7%$212,300 +10%
    2002$1,819 -30.1%$193,000 +11%
    2001$2,601 +5.5%$173,900 +8.5%
    2000$2,465 $160,300
    Find assessor info on the county website

    Neighborhood: 55731

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