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    Move-in Ready Country Retreat Title is generated by Realmo AI

    5276 W Beeline Road, Salem, IN 47167

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    For Sale
    $109,000

    Remodeled 4BR home on 2.2 acres near Salem.

    Type:Farm
    Property size:
    1,130 SF
    Lot size:
    2.20 Acres
    Price / SF:
    $96/SF
    Added:
    Aug 22, 2021
    Days on Market:
    1725
    Last Refresh:
    Apr 1 at 9:09 pm

    Property Features for 5276 W Beeline Road

    General Information

    Standard status
    Active
    Size
    1,130 SF
    Lot size
    2.20 Acres
    Property subtype
    Farm

    Building Details

    Year Built
    1987

    We can help!

    Listing Contact
    Debbie Curtis
    Debbie Curtis

    Listing agent Debbie Curtis License #RB14032127

    Listing office Mainstreet REALTORS

    Listing date Aug 22, 2021

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Mainstreet REALTORS

    HighLights

    • Move‑in ready, fully remodeled home with new furnace, siding, floors, kitchen, bathrooms, porches, and newer roof and water heater.
    • 2.2 acre property in a secluded, park‑like setting.
    • Detached 24 x 48 three‑car garage with electric, concrete floor, and wood stove.
    • Includes appliances: dryer, oven, range, refrigerator, and washer.
    • Conveniently located minutes from downtown Salem.
    • Features well water, metal roof, deck, covered porch, and wooded lot.

    Overview

    This remodeled country retreat is move-in ready and situated on 2.2 acres in a park-like setting. The property includes a 4-bedroom, 1.5-bathroom home with 1130 square feet. The home features a new furnace and duct work, new tie downs, new metal siding, new gutters, new bamboo floors, new countertops in the remodeled kitchen, and newly remodeled bathrooms. It also has a new cedar-covered front porch and cedar back porch, and newer water heater. The windows are less than 5 years old, and the roof is less than 3 years old. Appliances are included. A detached 24 x 48 three-car garage with electric, a concrete floor, and a wood stove is also on the property. The location is secluded yet minutes from downtown Salem. The property has well water.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Salem
    County
    Washington
    State
    Indiana
    Longitude
    -86.183556
    Latitude
    38.60811

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    FAQs

    What type of property is this?
    Farm - Remodeled 4BR home on 2.2 acres near Salem.
    Where is this farm located?
    The property is located at 5276 W Beeline Road Salem, IN.
    What is the asking price?
    The asking price for this property is $109,000.
    What are key features of this property?
    This property features: Move‑in ready, **fully remodeled home** with new furnace, siding, floors, kitchen, bathrooms, porches, and newer roof and water heater.; 2.2 acre property in a secluded, park‑like setting.; **Detached 24 x 48 three‑car garage** with electric, concrete floor, and wood stove.
    (812) 883-9555
    We can help!
    Listing Contact
    Debbie Curtis
    Debbie Curtis
    Real Estate License ID: RB14032127
    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.

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