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    8025 W 500 N Ligonier, IN 46767

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    For Sale
    $659,900

    Farm / Farmhouse, House (Detached) - Ligonier, IN

    Type:Farm
    Property size:
    3,216 SF
    Lot size:
    6.18 Acres
    Price / SF:
    $205/SF
    Added:
    Feb 27, 2026
    Days on Market:
    53
    Last Refresh:
    Apr 21 at 8:06 pm

    Property Features for 8025 W 500 N

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Zoning
    300
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Den, Dining Room, Family Room, Kitchen, Living Room
    Parking features
    Garage, Garage - Attached
    Pool private
    1
    Interior features
    Walk-in Closet
    Exterior features
    Pool
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Refrigerator, Washer
    Standard status
    Active
    Size
    3,216 SF
    Lot size
    6.18 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3063

    Utilities

    Heating system
    Fireplace(s), Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1991
    Year renovated
    1991
    Floors in Building
    2
    Flooring type
    Carpet, Hardwood, Linoleum, Tile
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    David Mays Jr

    Listing agent David Mays Jr

    Listing office Base Camp Country Real Estate, Inc. N4083 Country Rd E Suite C, Freedom, IN

    Listing date Feb 27, 2026

    MLS# 11663988 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Ligonier Homestead with Finished Pole Barn

    This 6.2-acre homestead in Ligonier, Indiana, offers convenient access to US33 and 6 for commuting to Goshen, Kendallville, or Fort Wayne, and is near the West Noble school complex. The updated traditional farmhouse features 4,216 sqft, a wrap-around porch, 4 bedrooms upstairs, and 3.5 bathrooms. The property includes a walk-out basement and a refinished inground concrete pool. A fully finished pole barn, measuring 36x56x14, includes heat. The property has a private well and septic system. The upstairs and finished basement have new flooring. The basement features daylight from 6 windows and French doors, along with countertop space and outlets suitable for hosting. The HVAC and water heater are approximately 10 years old and regularly maintained. Recent updates include a new roof and gutters with a one-time warranty transfer. The range and microwave are new as of 2025. Additional updates include the primary bathroom suite, secondary upstairs bathroom, and main floor half bath. The primary bedroom includes walk-in his and her closets, while the second and third bedrooms also have walk-in closets with closet systems. Mature trees, abundant wildlife, and sunset views enhance the property. The main building size is 3,216 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ligonier
    County
    Noble
    State
    Indiana
    Longitude
    -85.57702
    Latitude
    41.423157

    FAQs

    What type of property is this?
    Farm - Updated farmhouse on 6.2 acres with pool and pole barn.
    Where is this farm located?
    The property is located at 8025 W 500 N Ligonier, IN.
    What is the asking price?
    The asking price for this property is $659,900.
    What are key features of this property?
    This property features: 6.2 acre homestead with easy access to major commuting routes (US33 and 6).; Large, updated farmhouse with **4,216 sqft, 4 bedrooms, and 3.5 bathrooms.**; **Massive, fully finished and heated pole barn (36x56x14).**
    (260) 437-3991
    We can help!
    Listing Contact
    David Mays Jr
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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