Anyone know about the market at Bloomington, IN?

[Bee-Bee Liew]

Hi, I am currently looking at a multifamily property on S. Curry Pike on the southwest side of Bloomington, Indiana. Can anyone share with me your knowledge on this area? Thank you!

[Marc Kelwaski]

I think I know the property you are referring to. The southwest side of town is generally a lower income area. Also, you should be aware that the properties on Curry Pike are currently in the county, but Bloomington plans to annex this area January 1st 2020 (still being finalized, but the mayor announced this last month). Being annexed into the city will cause a property tax increase, which should be factored when looking at NOI and Cap Rates.