How to: Choosing Where to Buy an STR in Indianapolis

[KiKi Wood]

Hi all!

I am a local agent in Indianapolis, and my fiancé and I own an Airbnb property management company, Brentwood Property Group. I have a lot of my clients ask how to know what makes a good Airbnb, and where to buy in Indianapolis! Like most cities, Indianapolis is known for being pocket-by-pocket when it comes to what class a neighborhood is. That's why it is so important to have someone on your team with market knowledge and knows where to buy STRs. 

An advantage that Indianapolis has is a lower barrier to entry (home prices, less competition, etc) than many states that STRs are popular. There is also some versatility in and around Indy, which makes for a lot of great markets that bring in guests for different purposes. When looking for areas to invest in STRs, I use the combination of market knowledge as a realtor, AirDNA, and our experience with Airbnbs in these specific areas to give recommendations to our clients. With that being said, here are my top recommendations for areas to invest in Indy for Airbnbs, and what brings guests to this area! 

1. Fountain Square/Bates Hendricks (homes are renovated, close to everything downtown)

2. Broad Ripple/SoBro (has its own downtown area, also close to downtown Indy, known for cute bungalows)

3. Beech Grove (more suburban, close to everything but is more quiet)

4. Noblesville (close to the biggest concert venue, suburban, a lot of amenities, price point is higher)

5. Westfield (close to a big sports park, brings in a lot of families, very nice, price point is higher)

6. Greenwood (very few STRs currently, a lot of amenities, close to everything, price point is higher) 

7. Speedway (close to the track for Indy 500, close to downtown)

8. Butler Tarkington (lower price point, close to everything) 

9. Nora/Northside (close to Carmel and nicer north side areas, close enough to downtown)

10. Downtown Indy (in downtown Indy, more pocket-y)

Again, these are based off of experience and market knowledge of STRs in the area. There are many more areas that are growing and would do well, but here are the ones I recommend the most! I have an actual map I have put together of these areas and more, if anyone is interested! Indy is a great area to invest in, and I would be happy to connect with everyone and talk about STRs and investing in Indianapolis! Please let me know if you have any questions or want to chat. :) 

- KiKi Wood