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    503 Melville St Rensselaer, IN 47978

    • Office Properties & Spaces
    • 1,888 SF
    • 0.84 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Jul 27, 2020
    Location Intelligence
    Property ID
    US31-3062988
    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

    • Office Properties & Spaces

    Property Details for 503 Melville St

    Year built
    1950
    Construction
    WOOD
    Lot size
    0.84 lot acres
    Property size
    1,888 SF
    Zone code
    BUFF
    Property type
    Office Properties & Spaces
    APN
    37-07-29-000-001.029-027
    APU
    370729000001029027

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rensselaer
    County
    Jasper
    State
    Indiana
    Longitude
    -87.1415
    Latitude
    40.9331
    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
    $0.00
    $27,100
    $49,400
    $76,500
    -
    $27,100
    $49,400
    $76,500

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation
      $255,000
      10,072 SF

      5063 1000th W

      OFFICE (GENERAL) • 10,072 SF
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    • Value Estimation by Request
      16,750 SF

      5856 1050th S

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      5856 1050th S, Rensselaer, IN 47978-8415
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    • Value Estimation by Request
      10,080 SF

      1389 Saint Gaspar W Dr

      OFFICE (GENERAL) • 10,080 SF
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    • Value Estimation
      $215,000
      3,975 SF

      116 Frnt St

      OFFICE (GENERAL) • 3,975 SF
      116 Frnt St, Rensselaer, IN 47978-2646
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    • Value Estimation
      $370,000
      6,552 SF

      301 Van Rensselaer St

      OFFICE (GENERAL) • 6,552 SF
      301 Van Rensselaer St, Rensselaer, IN 47978-2630
      View Details

    Similar Nearby for Sale

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    503 Melville St
    Rensselaer, IN 47978
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    Realmo Value Estimation

    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.

    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.

    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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