Indy's' Best C-Class Neighborhoods

[Melissa Fourie]

Happy New Year Everyone!

I trust you had a wonderful New Year's Eve and thoroughly enjoying their New years Day. I am wondering if anyone is investing in C-Class neighborhoods in Indianapolis? In particular, I am curious about whether this could be a viable strategy, and of course, it would be interesting to learn which neighborhoods would be best suited for a C-Class investment strategy. I am thinking that in order to be successful with this type of investment, the yield should be pretty close to the 2% rule and one should have a very good property manager in place.

I recently heard that one should stay away from older 3/1 homes that rent for less than $750 p/m. Would this be a good rule of them? 

Thank you so much for taking the time to read my post, I would really appreciate any thoughts or ideas.

Melissa

[Melissa Fourie]

@Sterling White Yes, I've contacted a few....great idea to contact them! One said....

"I recommend finding rentals that you can expect at least $900/mo (especially if you are financing.) If you are paying all cash, then you can drop to $750, but I still believe that you are safest in the $900+ range regardless."

Areas to consider

Suburban area outside of I-465 (be more careful on the East side though)

Marion County north of 56th St (Pike Township, Washington Township, Lawrence Township)

Marion County south of Thompson Rd (Decatur Township, Perry Township, Franklin Township)

Marion County west of High School Rd (Wayne Township)

I found this advice very helpful. This PM also mentioned using....

www.rentometer.com - free tool for rental market analysis

www.finestexpert.com - free tool for market analysis as well

What do you guys think of this opinion?