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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3508 Evans Ave Valparaiso, IN 46383-8389

    • Mobile home & RV parks
    • 1.71 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0296998
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mobile home & RV parks

    Property Details for 3508 Evans Ave

    Year built
    1961
    Lot size
    1.71 lot acres
    Property type
    Mobile home & RV parks
    APN
    64-10-20-127-003.000-020
    APU
    641020127003000020

    Description

    This exceptional investment opportunity presents a 9-lot mobile home park situated on a spacious 1.71-acre lot in Valparaiso, Indiana. Conveniently located near major commercial retail stores and with easy access to Highway 49, this property offers significant potential for growth and income generation. The park currently includes one mobile home and a utility shed. The property's prime location ensures high visibility and accessibility for residents and visitors alike. The substantial lot size provides ample space for future expansion or development, allowing for increased revenue streams. While there is currently one mobile home on the property, the nine available lots offer considerable potential for additional rentals. Note that a survey is not currently available

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Valparaiso
    County
    Porter
    State
    Indiana
    Longitude
    -87.0177
    Latitude
    41.4775
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,492
    $86,300
    $1,900
    $88,200
    -
    $86,300
    $1,900
    $88,200

    Comparable in this City

    • Value Estimation
      $370,000
      2,100 SF

      76 Us Hwy 6th 6

      MOBILE HOME PARK, TRAILER PARK • 2,100 SF
      76 Us Hwy 6th 6, Valparaiso, IN 46383-8918
      View Details
    • Value Estimation
      $255,000
      13.64 Acres

      459 900th N

      MOBILE HOME PARK, TRAILER PARK • 13.64 Acres
      459 900th N, Valparaiso, IN 46383-9718
      View Details
    • Value Estimation
      $235,000
      2.06 Acres

      Comeford Rd

      MOBILE HOME PARK, TRAILER PARK • 2.06 Acres
      Comeford Rd, Valparaiso, IN 46383
      View Details
    • Value Estimation
      $275,000
      3.12 Acres

      581 State Rd 49

      MOBILE HOME PARK, TRAILER PARK • 3.12 Acres
      581 State Rd 49, Valparaiso, IN 46383-9572
      View Details
    • Value Estimation by Request
      6.75 Acres

      11 Us Highway 6

      Mixed-use properties • 6.75 Acres
      11 Us Highway 6, Valparaiso, IN 46383
      View Details
    • Value Estimation by Request
      19.54 Acres

      275 East Dr

      Land • 19.54 Acres
      275 East Dr, Valparaiso, IN 46383
      View Details

    Similar Nearby for Sale

    • $640,000
      1.30 Acres

      Valparaiso Multifamily Property on Acreage

      Spacious 3-unit property on 1.3 acres in Valparaiso, Indiana.
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    • $549,000
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      Income-Producing Duplex on Two Acres

      Paired ranch on nearly two acres in Jackson Township.
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    • $319,000
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      Valparaiso Three-Unit Income Property

      Vintage 3-unit property near downtown Valparaiso with strong rental history.
      302 Lafayette St, Valparaiso, IN 46383
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    • $174,800
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      Updated First-Floor Condo with Garage

      Updated first-floor condo with garage, convenient location, and included amenities.
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    • $329,000

      8 Acres Residential Land, Valparaiso, IN

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      Tastefully updated condo near the University and local attractions.
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    Similar Nearby for Lease

    • $16 SF/Yr
      5,860 SF

      Valparaiso Office Space Available

      Office space for rent in Valparaiso, Indiana.
      6 Morgan Blvd, Valparaiso, IN 46383
      View Details
    • Contact for pricing
      82,369 SF

      Valparaiso Warehouse Sublease Opportunity

      82,369 SF warehouse space available for sublease in Valparaiso.
      2200 Memorial Dr, Valparaiso, IN 46383
      View Details
    • $19 SF/Yr
      1,795 SF

      Retail Space in Silhavy Square

      Retail space available in a well-located Valparaiso shopping center.
      501 Silhavy Rd, Valparaiso, IN 46383
      View Details
    • $10 SF/Yr

      Historic Downtown Valparaiso Leasing Opportunity

      Office and retail spaces for lease in updated historic building.
      17-19 E Lincolnway, Valparaiso, IN 46383
      View Details
    • $15 SF/Yr
      1,327 SF

      Downtown Office Space For Rent

      Downtown office space with onsite parking and convenient amenities.
      257 Lincolnway, Valparaiso, IN 46383
      View Details
    • $10 SF/Yr
      15,299 SF

      Valparaiso Office Space Available

      Historic Indiana Office Building, Flexible Suites
      17 Lincolnway, Valparaiso, IN 46383
      View Details
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    3508 Evans Ave
    Valparaiso, IN 46383-8389
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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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