**Two-Unit Property on a Corner Lot Near Downtown Rensselaer**
*** Both units are currently occupied***
This well-located 2-unit property offers an excellent opportunity for an owner-occupant, investor, or anyone looking for additional rental income. Each unit has its **own private entrance and separate utilities**, providing convenience and independence for both occupants.
The main-level unit offers 1,214 square feet with 3 bedrooms, a 3/4 bath, kitchen, and living room. An attached screened porch provides additional living space and includes a laundry area, refrigerator, and gas range. The main-level tenant also has access to the **detached 2-car garage**. Recent updates include a furnace approximately 3 years old and a roof approximately 4 years old (1 layer of shingles).
The upper-level unit has its own separate entrance and features a studio-style layout with a kitchen, living room, bedroom, and 3/4 bath. This unit is equipped with an on-demand water heater, electric heating and cooling wall unit, gas range, refrigerator, stacked washer/ dryer.
Situated on a corner lot within walking distance of downtown Rensselaer, this property offers a convenient location along with the flexibility of two separate living spaces. With both units currently occupied, this is an opportunity to add a two-unit property to your investment portfolio or make use of one unit while maintaining rental income from the other.
*** Both units are currently occupied**
For sale by owner
Price cut: $5K (11/4)
$220,000
503 N McKinley Ave, Rensselaer, IN 47978
4beds
1,867sqft
MultiFamily
Built in 1910
-- sqft lot
$-- Zestimate®
$118/sqft
$-- HOA
What's special
Corner lotOn-demand water heaterGas rangeTwo separate living spaces
- 41 days
- 463
- 26
Listed by:
Property Owner (219) 866-0170
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- 3/4 bathrooms: 2
Heating
- Forced air, Wall, Electric, Gas
Cooling
- Wall
Appliances
- Included: Dryer, Range / Oven, Refrigerator, Washer
Features
- Flooring: Carpet, Laminate
- Basement: Unfinished
Interior area
- Total interior livable area: 1,867 sqft
Property
Parking
- Total spaces: 2
- Parking features: Garage - Detached
Features
- Exterior features: Vinyl
- Has view: Yes
- View description: City
Lot
- Size: 10,018 Square Feet
Details
- Parcel number: 370719036002005027
Construction
Type & style
- Home type: MultiFamily
Materials
- Frame
- Foundation: Crawl/Raised
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1910
Community & HOA
Location
- Region: Rensselaer
Financial & listing details
- Price per square foot: $118/sqft
- Tax assessed value: $157,300
- Annual tax amount: $1,693
- Date on market: 10/2/2026
Estimated market value
Not available
Estimated sales range
Not available
$1,013/mo
Price history
| Date | Event | Price |
|---|---|---|
| 11/4/2026 | Price change | $220,000-2.2%$118/sqft |
Source: Owner Report a problem | ||
| 10/2/2026 | Listed for sale | $225,000+226.1%$121/sqft |
Source: Owner Report a problem | ||
| 3/14/1997 | Sold | $69,000$37/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,693 +3.1% | $157,300 +9.5% |
| 2024 | $1,642 +6.4% | $143,700 +6.9% |
| 2023 | $1,543 +2.6% | $134,400 +11.8% |
| 2022 | $1,503 +2.5% | $120,200 +11.6% |
| 2021 | $1,466 +5.2% | $107,700 +0.3% |
| 2020 | $1,393 +2.4% | $107,400 +1.1% |
| 2019 | $1,361 +11.2% | $106,200 -1.8% |
| 2017 | $1,223 +2.2% | $108,200 +0.7% |
| 2016 | $1,197 +4.6% | $107,400 +8.2% |
| 2014 | $1,144 +7.6% | $99,300 +2.2% |
| 2013 | $1,063 +1% | $97,200 +0.5% |
| 2012 | $1,053 -5.8% | $96,700 +5.1% |
| 2011 | $1,118 +12.4% | $92,000 |
| 2010 | $994 +3.2% | $92,000 |
| 2009 | $964 | $92,000 +6.7% |
| 2006 | -- | $86,200 +5.4% |
| 2005 | -- | $81,800 |
Find assessor info on the county website
Monthly payment
Est. payment





