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Updated almost 9 years ago,

User Stats

623
Posts
155
Votes
Jeb Brilliant
  • Rental Property Investor
  • Long Beach, CA
155
Votes |
623
Posts

Looking at SF in Indy and want to make sure it's a good deal

Jeb Brilliant
  • Rental Property Investor
  • Long Beach, CA
Posted

Hi All, 

I'm really new to all of this but got brought a deal I may be buying. I'm flying to Indianapolis next week for an inspection but wanted to know what you all think. 

It's a 1920 single family residence 3 bed 1 bath, in what I believe is a C neighborhood of Indianapolis (I'm from LA and it looks like a B area to me). It is $22k (yes that's the price) with a tenant paying $650/month and she is in a lease for 10 more months. I've run the numbers to the best of my ability and I come up with an annual gross cash flow of $4050 or $337 monthly. 

Is this a good deal? 

Thanks in advance for your input. 

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