1916 Lawn Street, Duluth, MN 55812

Property Description

Excellent cash-flowing rental property located just one block from the main UMD parking lot. This is an ideal opportunity for investors or for parents seeking housing for a student attending UMD or the College of St. Scholastica. Thanks to its highly desirable location, the home has never experienced a vacancy and has been well-maintained. With five bedrooms, the property's rental income comfortably covers operating expenses and mortgage costs. The main level offers an inviting, open layout, a gas fireplace for cozy evenings and includes an additional refrigerator for tenant convenience. The rental license is active andfully transferable. The floor plan features two bedrooms and a full bath on the main level, along with three bedrooms and a 3/4 bath in the lower level. Most windows were replaced just before the current owners purchased the property. The living room, dining room, and all lower-level lookout windows have been updated within the past 3 years. A significant recent upgrade is the brand-new 2025 boiler, whichalso functions as an on-demand water heater. This efficient system helps keep heating costs low by eliminating the need to maintain a full tank of hot water and removes the future expense of replacing atraditional water heater. Current rent is $2,875 per month with the lease expiring on May 31, 2026. All tenants are vacating the property. The next 12 month rental cycle is projected at $3,000 per month, still below comparable nearby properties, which typically run $50?$75 higher per room. This is an outstanding opportunity to own a strong, income-producing property while also potentially providing housing for a student with a fully transferable rental license. Let thisinvestment work for you or enjoy it as a regular single family home with excellent proximity to campus. Initial price of $339,900 was a typo.