Rental properties in Indianapolis

[Clarence Gong]

Hi BPers!

Interested in rental properties in Indianapolis.

Any suburbs that should stay away from and upcoming area with potential of appreciation in equity value? Of course with good cash flow as well.

Btw, saw these new constructions in Westfield area priced around 52k, r they mobile home or what? Most properties starting with 120k there! Someone lighten me up pls!

Thanks in advance!

Clarence Gong 

[David Moudy]

Depends on what you are looking for in a rental and what your goals are overall. You can get some great cash-flow in 46201 - however appreciation might be non-existent. 

A pretty debated area right now is Irvington. personally I think that parts of Irvington are going to boom within the next 5 years. Others say that historic district will hold it back. Only time will tell.

Fountain Square and Bates Hendricks area have been pretty much gobbled up. I am a pretty big fan of Pike Township and Washington Township for easy rentals. Return will not be as high as some areas however it will be consistent for renters.