EQUITY!! - Indianapolis SFR Flip or Rental in Bates Hendricks!!

[Leo B.]

This is a little cash machine that has consistently provided nice cash flow for me for the 3 years I've owned it.  The reason why I'm selling is because I am focusing my purchases in another area of Indy.  I did a relatively light rehab to this home when I initially purchased it, and it has been continuously maintained well during my ownership.  The property is professionally managed by a reputable broker/ PM company located a mile away in Fountain Square and is currently rented with a good tenant that pays timely (lease expires 06/30/18).  I've met the neighbors next door and they are good people that have lived there for over 15 years.  The other neighboring house is currently listed on the market for $62K but needs a full gut and rehab to be livable.  The list of repairs on my home that was performed is below:

• New main water line and water meter pit installed from house to street
• New carpet throughout
• New high grade vinyl wood plank flooring in kitchen and bath
• New interior paint throughout (2-tone light gray and white)
• New bath/ kitchen sink fixtures and toilet
• New vinyl windows throughout
• New mini blinds throughout
• New stairway and concrete block wall leading to basement and basement door installed
• Tuck pointing performed on basement walls
• Gutter repair

As most know who have invested in Indy, this property is located in Bates Hendricks (adjacent to Fountain Square) which has undergone major transformation and revitalization.  The HGTV show Good Bones is actively purchasing and rehabbing in this area as well.  There are rehabbed properties on the same street in the next block that are listed at over $270K so there is ton of equity and potential for you here!  Or you can continue to hold it as a rental as the area continues to appreciate!  Check the SOLD comps yourself!

802 E. Minnesota St - Pending at $269,900

928 E. Minnesota St. - Pending at 279,900

If you're interested or have any questions, let me know.

Thanks,

-Leo