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Sure, just get a shelf or a rackmount conversion kit
At your home in a basement or balcony.
Weird form factor colocation gets expensive fast, you're way better off renting a cheap dedi from the likes of OVH, than colocating what's basically a 4U, for nowhere near 4U worth of computing power.
A single static IP is $50/m unfortunately.
Dacentec use to be cheap for things like this.
If that's the most pressing issue then get a 1-5 USD/mo VPS and tunnel the IP to your home server.
Why not buy a 1U chassis and put the Dell mobo in there? Depending on its age it might have a BTX motherboard, make sure to buy the correct one.
Or a better solution, use a GRE tunnel instead :-)
Comcast residential is all I can get and it sucks ass here. 1TB cap, like 2 mbps upload too.
Moving in a month
Joe's Datacenter is $50-70/mo for a mid or full tower, with 5 IPs, gig port, 20TB bandwidth.
https://billing.joesdatacenter.com/cart.php?gid=3
Disclaimer: never been a JDC customer myself. They've been around for quite a while.
Hah! I was quoted $55/mo because I'm not on a business internet package. Not that it's something to be proud of, but the greediness of my ISP is extreme