Is this SFR in Indianapolis a good deal?

[Mark Vieira]

I am starting to dig into the Indianapolis market and got a lead for a house that the owner would be willing to quitclaim over to me if I pay the back taxes of approx. $6k. The house is near the intersection of Villa Ave and English Ave on the East side of town. I am just starting to research Indy now but my guess for monthly rent would be $500 per month. It needs about $10k in rehab. Its a 2br detached house.

Would anyone with local knowledge be willing to weigh in on this one? Is this area a war zone?

[Erin Weiss]

Indy is a tough area to get to know because there are so many pockets of good and bad areas. You can drive a couple blocks from one really bad neighborhood to a great one. I don't know exactly that intersection but do know that the East side has some rough areas. Be careful.