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Listed price in listed location currency (USD).
$249,900

520

MLS® 6123325

  • Key Facts
  • Description
  • Map

Key Facts

Type Single Family Residence
Levels Residential
Size 1600 sqft
Garage Yes
Taxes $2,020
Days Active 1
Lot Size 0.07 acres
Approx. Age 1910
Avg. Price Per Sqft $156
MLS® Number 6123325

Property Address: 507 N 56th Ave W, Duluth, MN, 55807-2507

Average square foot calculated using Size range provided by listing agent.

Description

Strong Cash-Flowing Investment Property with Upside Potential Excellent opportunity to acquire a high-performing investment property currently operating as a furnished, month-to-month rental with a proven income history. The main home features 5 bedrooms, each rented individually at approximately $690/month, producing consistent demand and minimal vacancy. Tenants have been respectful and reliable, with typical turnover limited to one to two rooms per month, allowing for flexibility and rent optimization. The property has seen a lot of updates in recent years, including remodeled bathrooms, a remodeled kitchen, and a new roof, and replaced exterior and interior doors, in 2017 HVAC, plumbing, electrical, sheetrock and windows were also done. An ADU on the property is already generating income at $800/month, with clear upside for increased rents once completed. The ADU currently has electricity and water connected but was not fully or properly finished and will require a lot of additional work to bring it to its full potential. Current gross monthly rents total approximately $4, 300, with opportunity to increase through ADU completion, rent adjustments, or continued furnished rental strategy. Ideal for investors seeking immediate cash flow with value-add potential, flexible lease terms, and a property that has already been thoughtfully improved.
MLS® Number6123325
Laundry Level
Central VacNo
FireplaceNo
Acreage0.07
Exterior
GarageYes
Approx. Age1910
BasementFull
Driveway
Garage Spaces2
Heat
A/C
Heating Fuel

Extras

Similar Listings

Price History

-End Date
Not Sold YetSold Price

For Sale

Jan 11, 2026List Date
$249,900List Price
  • Commute

Commute

Starting Address
Destination Address
507 N 56 Th Ave W, Duluth, MN

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