429 S 4th Ave E, Ely, MN, 55731
About This Home
A piece of history set back on 3 city lots on the corner of 4th Avenue and James Street. This Triplex has been loved and cared for for over 30 years. The main floor has a 3 bedroom apartment and an efficiency apartment each with their own off street parking spots, kitchens, bathrooms, and access to the basement for separate laundry areas. The upstairs is a 4+ bedroom with in unit laundry and a huge attic space that could be storage or it has the potential to be 2 extra bedrooms and has amazing views. The yard is huge with a beautiful stone retaining wall on the south side, a big garden, blister-rust resistant white pines and a beautiful sugar maple tree. This property is easily customizable to combine the entire 1st level or add a bedroom to the efficiency. Grab yourself a piece of history and a rare cash flowing rental property in the amazing town of Ely!
Getting Around
Somewhat Walkable
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Previously Owned
- Year built: 1900
Materials
- Foundation: Rock
- Construction materials: Fiber Board,Timber/Post & Beam
Type & Style
- Home type: MultiFamily
- Property subType: Triplex
Interior
Basement
- Has basement: Yes
- Basement: Full
Bedrooms & Bathrooms
- Bedrooms: 7
- Bathrooms: 4
Features
- Finished area below ground: 0
- Finished area above ground: 2,600
Heating
- Heating features: Boiler,Oil
Interior Area
- Total interior livable area: 2,600 sqft
Property
Details
- Parcel number: 030035000470
- Foundation area: 1300
Lot
- Lot size: 9,147 sqft
- Lot size dimensions: 125 x 75 x 125 x 75
Parking
- Total spaces: 1
- Parking features: Detached
- Has garage: Yes
- Attached garage spaces: 1
- Covered spaces: 1
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Winter Weather
- Lightning
- Heat Wave
How This Home’s Risks Compare
FEMA Declared Disasters in St. Louis County and Minnesota
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,243 | $14,916 |
| Home Insurance * | $166 | $1,992 |
| Property Taxes | $406 | $4,872 |
| Electricity | $219 | $2,631 |
| Total | $2,034 | $24,408 |
Income You'd Need if You Spent...
Minnesota FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
No market data available for this area
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-01 | Listed for sale | $256,000 |
| 2001-03-26 | Sold | $58,500 |
View on Zillow