What are the Best STR Areas in Indianapolis?

[Dan Klao]

Hi, All! Looking for up and coming areas in Indianapolis to buy some STR properties. Can you share a few markets to look for? I'm also looking for a good RE agent that specializes in STR investments in Indy. Let's connect!

[Mike D'Arrigo]

@Dan Klao An important thing to keep in mind is that people use STR's for a lot of reasons, not just vacations so you don't neccessarily have to be around tourist attractions which is a common misconception. Currently there are about 650 STR's in Indianapolis on AirBnB and the majority are not in the downtown areas. Personally, I think anything by the Speedway would be great. There's about 20 STR's in that immediate area with an average daily rate of $173 which is pretty strong. Another way of getting a good idea is looking at where there are a lot of hotels. Hotels are your competion. Don't look at the luxury hotels in the heart of the downtown area. Look at where there are a lot of more affordable hotels like Extended Stay out in the suburbs. Lastly, look on AirBnB and find the ones that have a lot of reviews. Look at where they are located. It all depends on what kind of guests you are trying to attract.