507 N 56th Ave W, Duluth, MN 55807 (MLS # 6123373)

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PRICE $239,900 BEDS 6 BATHS 2 HOME SIZE 3,200 sqft LOT SIZE 3,050 sqft Request More Info Schedule a Showing

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.