Indianapolis Rent Estimate

[David Rohrer]

Hi everyone!

I just got my offer accepted on my first rental property! With all that is happening right now, I'm looking at reducing my down payment, so I need to go over my numbers again. I have estimated being able to get at least $1,750 per month on a fully redone 4 bed 2 bath home by East 70th Street and Keystone in Indianapolis. Some new rentals have popped up around it that are less than that, but are not redone and not as many rooms/baths. Would some of you be willing to look at that area and tell me if $1,750 is a bad estimate and why?

Thank you!

[Ric Ernst]

@David Rohrer rentometer shows a 4 bed in that area going averaging $1,250 with nothing over $1,575...which would be for something spectacular. According to the MLS, there are 4 or 5 properties within spitting distance of that intersection that are listed at $1,200 and one that is listed for $2k which has been sitting for over 2 months. I don't know your property but with the prospect of a bad economy, I wouldn't count on getting top dollar. Best of luck!