507 N 56th Ave W, Duluth, MN 55807 (MLS # 6123625)

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PRICE $229,900 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 or a great property for personal use. 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. The property includes a converted garage currently configured as a one-bedroom unit, offering flexible additional living space. This area may serve a variety of uses such as a guest suite, home office, studio, or potential rental opportunity. Buyer to verify permits, condition, and suitability for intended use. The garage conversion is being sold as-is. 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.