Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3508 Evans Ave Valparaiso, IN 46383-8389

    Property Lookup

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

    3508 Evans Ave Valparaiso, IN 46383-8389

    View on Map
    • Mobile home & RV parks
    • 1.71 lot acres
    Off-Market
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — 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 by Request
      2.06 Acres

      Comeford Rd

      MOBILE HOME PARK, TRAILER PARK • 2.06 Acres
      Comeford Rd, Valparaiso, IN 46383
      View Details
    • Value Estimation by Request
      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
      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 by Request
      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 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

    • New
      $385,000
      Pending

      Valparaiso Duplex Investment Opportunity

      Duplex in downtown Valparaiso with income potential.
      507 Franklin St, Valparaiso, IN 46383
      View Details
    • $269,999
      0.10 Acres

      Versatile Multi-Unit Property Near University

      Two-unit property near Valparaiso University with investment potential.
      401 Brown St, Valparaiso, IN 46383
      View Details
    • $599,000
      1.30 Acres

      Valparaiso Triplex on Large Lot

      Spacious triplex on 1.3 acres near downtown Valparaiso.
      1802 Evans Ave, Valparaiso, IN 46383
      View Details
    • $425,000
      Pending

      Valparaiso Income Property Near VU

      Fully occupied four-unit property near Valparaiso University.
      255 College Ave, Valparaiso, IN 46383
      View Details
    • $350,000
      16.04 Acres

      Valparaiso Vacant Land For Sale

      16.04 acres of vacant land, excellent for warehouse.
      Silhavy Rd, Valparaiso, IN 46383
      View Details
    • $1,650,000
      Pending

      Valparaiso Land For Sale

      79 acres of land in Valparaiso, Indiana.
      St Rd 2, Valparaiso, IN 46383
      View Details

    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
    • $22 SF/Yr
      908 SF

      Eastport Medical Office Space Available

      Former medical office space in Eastport development, Valparaiso.
      1251 Eastport Centre Dr, Valparaiso, IN 46383
      View Details
    • Contact for pricing

      Valparaiso Office Space Available

      Turnkey office spaces for lease in well-maintained Valparaiso building.
      1620 Country Club Rd, Valparaiso, IN 46383
      View Details
    • Contact for pricing

      Valparaiso Retail Space on US 30

      Retail space for lease on US 30 in Valparaiso, IN.
      2106 Morthland Dr, Valparaiso, IN 46383
      View Details
    • $16 SF/Yr
      144 SF

      Downtown Valparaiso Office Space

      Two-story office building with elevator and private parking.
      15 N Franklin St, Valparaiso, IN 46383
      View Details
    • $800 /Mo
      408 SF

      Furnished Office Space Available

      Furnished office unit with conference room for rent.
      5 S Washington St, Valparaiso, IN 46383
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3508 Evans Ave
    Valparaiso, IN 46383-8389
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!