507 N 56th Ave W, Duluth, MN, 55807
About This Home
Solid 5-Bedroom Home + Income Potential | Central Location | FHA Eligible 507 N 56th Ave W., Duluth, MN Well-maintained 5 bedroom, 2 bath home in a highly central location, offering flexibility for both owner-occupants and investors. This property combines solid updates with strong income potential. Property Highlights: • New roof (2023) • Utilities, sheetrock, doors, furnace, electrical & plumbing updated in 2017 • Vinyl windows & vinyl siding • Very solid construction The 2-car garage has been partially converted into a 1-bedroom apartment, creating multiple options: • Owner-occupants can use it for extended family, guests, office/studio, or future rental income • Investors can continue operating it as an income-producing unit Income Details (Current Use): • Home is currently rented furnished, month-to-month • 5 bedrooms at $700/month each • Garage apartment at $800/month • Approx. $4,300/month gross income Whether you’re looking to live in the home with added income, house-hack, or purchase a cash-flowing investment, this property offers strong fundamentals and flexibility.
Getting Around
Very Walkable
Some Transit
BikeableSchools
Construction
Condition
- Property condition: Previously Owned
- Year built: 1910
Materials
- Foundation: Concrete Perimeter
- Construction materials: Vinyl,Frame/Wood
Type & Style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subType: Single Family Residence
Interior
Basement
- Has basement: Yes
- Basement: Full
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
- Main level bedrooms: 1
Features
- Finished area below ground: 0
- Finished area above ground: 1,600
Heating
- Heating features: Forced Air,Natural Gas
Interior Area
- Total interior livable area: 1,600 sqft
Property
Details
- Parcel number: 010451005630
- Foundation area: 800
Lot
- Lot size: 3,049 sqft
- Lot size dimensions: 25' x 125'
Parking
- Total spaces: 2
- Parking features: Detached
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
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
- Lightning
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 | $1,185 | $14,220 |
| Home Insurance * | $149 | $1,788 |
| Property Taxes | $264 | $3,168 |
| Electricity | $170 | $2,050 |
| Total | $1,768 | $21,216 |
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)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-21 | Listed for sale | $234,500 |
| 2026-02-24 | Listing removed | $229,900 |
| 2026-02-12 | Listed for sale | $229,900 |
| 2026-02-12 | Listing removed | $234,900 |
| 2026-02-09 | Price change | $234,900 |
| 2026-01-27 | Price change | $239,900 |
| 2026-01-16 | Price change | $244,900 |
| 2026-01-11 | Listed for sale | $249,900 |
| 2022-10-05 | Sold | $135,200 |
| 2021-10-29 | Listing removed | -- |
| 2021-10-14 | Price change | $170,000 |
| 2021-09-03 | Price change | $172,000 |
| 2021-07-21 | Price change | $180,000 |
| 2021-07-14 | Listed for sale | $190,000 |
| 2021-06-10 | Sold | $110,000 |
| 2017-09-28 | Sold | $110,000 |
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