Duplex in Indianapolis

[Cesar Ramirez]

Any advice on buying a duplex in Indianapolis I'm looking at a 3bed 2 bath each unit. What suggestions. What is the normal rent in that area for something like this. I'm still waiting on more info but just looking for some personal opinions

[Ryan Rominger]

Hi @Cesar Ramirez! I actually operate a property management company in Indianapolis called Intrigue Indy. I am a Real Estate Broker with Nottingham Realty Group as well.

To answer your question, in definitely depends on the area (as others have pointed out), but what many investors focus on is the monthly ROI. In Indy, it is not uncommon to see a duplex investment produce a monthly return of 2% or more (especially if you have a contractor lined up that will enable you to purchase a fixer in an appreciating area). An example that I've seen come to fruition in the past would be purchase a fixer for $35k, spending $25k on a renovation (so you have $60k invested), then leasing each side for $650-700/month (>2% ROI each month). The additional benefit is that your ARV is likely around 70-75k after you've completed the renovation and you can do a cash-out refinance to keep investing in more deals. These deals are becoming harder to find, but they are still out there.

Let me know if there are any other ways I can be a resource for you in Indy!