Investing in Old Southside

[Jack Liu]

Hello all,

I am curious to see if anyone has experience investing in the Old Southside area of Indianapolis. The area is close to downtown Indy and it sounds like the local government is putting a good amount of money into the area. The price in the area is still relatively low compare to nearby areas (Bates Hendricks and Fountain Square). What does everyone think about investing in this neighborhood? Thank you. 

https://www.wfyi.org/news/articles/old-southside-chosen-for-annual-neighborhood-investment-program

[Jean Zipagan]

@Anthony Sgro I haven't driven around that area in a bit, though I absolutely love Garfield park itself. I checked out a house for my primary by Yoke St/Allen Ave and loved it, but the house went under contract before we got there. I also checked out a house right by Troy & Beech St and that was rough, creepy almost at night. Troy isn't my fav street as it is very industrialized, not too much of a business/retail sort of place. ARVs in Garfield (west of Shelby) look closer to the 150-180k SFR range or higher, but in that pocket you are talking about, it might be in the low 100-120sk for a while.

I know Bean Creek is definitely getting some action so that is probably helping with this general area. What rents are you expecting for your duplex?