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507 N 56th Ave W, 
Duluth, MN 55807

$249,900


5

Beds


2

Baths


1,600

Sq Ft


Single Family

Active

Listed by

Emilie Silker

Realty Group LLC. - Forest Lake

Last updated:

January 13, 2026, 02:02 AM

MLS#

6123325

Source:

MN DAAR

About This Home

507 N 56th Ave W

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.

Home Facts

Single Family

2 Baths

5 Bedrooms

Built in 1910

Price Summary

249,900

$156 per Sq. Ft.

MLS #:

6123325

Last Updated:

January 13, 2026, 02:02 AM

Added:

4 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

5

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

1

Interior

Living Area:

1,600 Sq. Ft.


Structure

Structure

Architectural Style:

Colonial

Building Area:

1,600 Sq. Ft.

Year Built:

1910


Lot

Lot Size (Sq. Ft):

3,049


Finances & Disclosures

Finances

Price:

$249,900

Price per Sq. Ft:

$156 per Sq. Ft.

Source:MN DAAR
2026, Lake Superior Area REALTORS, Inc.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.