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For sale by owner
  • Price cut: $5K (11/4)
    $220,000

    503 N McKinley Ave, Rensselaer, IN 47978

    4beds
    1,867sqft
    : 
    $1,521/mo
    Get pre-qualified
    MultiFamily
    Built in 1910
    -- sqft lot
    $-- Zestimate®
    $118/sqft
    $-- HOA

    What's special

    Corner lotOn-demand water heaterGas rangeTwo separate living spaces
    **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**
    41 days
    463
    26
    Listed by:

    Property Owner (219) 866-0170

    This property is for sale by owner and Zillow, Inc. is displaying it at the owner's request. It is not subject to a listing agreement with Zillow, Inc. or its affiliates.

      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

        DateEventPrice
        11/4/2026Price change$220,000-2.2%$118/sqft
        Source: Owner Report a problem
        10/2/2026Listed for sale$225,000+226.1%$121/sqft
        Source: Owner Report a problem
        3/14/1997Sold$69,000$37/sqft
        Source: NIRA as distributed by MLS GRID #547669 Report a problem

        Public tax history

        YearProperty taxesTax 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

        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 47978

        Getting around

        66 / 100
        Somewhat Walkable
        46 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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