Southside of Indianapolis near UIndy - SFH Investment Potential

[Andrew Bonar]

BP Community,

I need some quick insight into the SFH investment potential on the South side of Indianapolis, just North of UIndy (University of Indianapolis). Specific neighborhood is Carson Heights. Intersections Shelby St., E Hanna Ave., and Carson Ave. I'm getting very close to closing a deal in this area. Buy and hold rental. Property is SFH, 950 sq ft., 3 bed/1 bath, $58K price, projected $7K rehab (property has been well maintained). All CapEx has been recently replaced or repaired. Total cost after closing and rehab = about $67,000. With this total cost in mind, how do you think my deal turned out? Projected rent at $900-$950. My goal is through the discounted purchase price I have already bought some equity and then created additional equity through adding value with top-notch rehab.

Please let me know, it would be much appreciated! Thank you!