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Property profile & analytics
OFF-MARKET
Residential income homes
4715 Melville Ave East Chicago, IN 46312-6527
Individually Owned
4-yr Hold
Property ID
US31-3363179
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1913
Construction
WOOD
Total area
5,556 SF
Lot
0.11 ac (4,966 SF)
APN
45-03-28-332-008.000-024
UPID
US31-3363179
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kenneth J Townse · 4 yrs held
Kenneth J Townse
since 2022
Last sale
$266,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs East Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Chicago submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$2,005
Tax year 2022
Assessed value
$261,700
Assessed 2023
Previous assessed
$261,700
+0.0% YoY
Effective rate
0.77%
On assessed value
Assessed land
$18,600
Assessed improvement
$243,100
Land market value
$18,600
Improvement market value
$243,100
Total market value
$261,700
Applied tax rate
24.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1913
Construction
WOOD
Heating
HOT WATER
Stories
3
Units
2
Rooms
6
Bathrooms
5
Total area
5,556 SF
Lot
0.11 ac (4,966 SF)
APN
45-03-28-332-008.000-024
UPID
US31-3363179
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1913
Construction
WOOD
Heating
HOT WATER
Stories
3
Units
2
Rooms
6
Bathrooms
5
Lot
0.11 ac
Current owner
From public records · entity-resolved
Kenneth J Townse
Individual
Mailing address
7581 MURRELET ST, HOBART, IN 46342-6890
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2022
$266,000
Kenneth J Townse
Nwi Property Exchange LLC
Warranty Deed
$239,400 · Teachers Cu
May 13, 2022
—
Skc JR LLC
Lakemore Rentals LLC
Quit Claim Deed
—
Mar 13, 2019
—
Lakemore Rentals LLC
Tennets LLC
Quit Claim Deed
related
—
Oct 25, 2018
—
Lakemore Rentals LLC
Tennets LLC
Quit Claim Deed
related
—
May 2, 2016
$85,000
Skc JR LLC
Tennets LLC
Dual Purpose Document
related
$85,500 · Tennets LLC
Dec 8, 2011
$5,000
Tennets LLC
Auditor Of Lake County
Tax Deed
related
—
Feb 28, 2007
—
Robert Farrow
Williams-buggs D Fam Trust
Grant Deed
$76,500 · Cit Group Consumer Finance INC
May 9, 2005
—
Williams-buggs Deidroi Trust
Williams,deidroi C
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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