Updated almost 3 years ago on . Most recent reply
Upcoming Indianapolis Neighborhoods
Looking to buy my first property, and I am located in Indianapolis. I am planning to buy a LTR. Nice cash flow is ideal, but my main goal is appreciation. What are some up and coming neighborhoods, and is LTR my best bet in this market? Thanks in advance for the insight!
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#4 Rehabbing & House Flipping Contributor
- Rental Property Investor
- Indianapolis, IN
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#4 Rehabbing & House Flipping Contributor
- Rental Property Investor
- Indianapolis, IN
@Ethan Martinez Welcome to BP! Indy is a great market and full of growth potential. We believe in the LTR strategy. Cash-flow opportunities can be found but it really depends on the neighborhood and even street. Indy is very street-by-street. The near eastside is coming up nicely. You could cash-flow a duplex property or SFH if purchased below market. Other areas are primed for flips. Bates Hendricks comes to mind. Not a lot of buy and hold deals (new Fountain Square). Riverside Park is starting to blast off. The park is getting revitalized and the sprawl from 16 Tech is real. I'm bias on Christian Park and Beech Grove; both are getting pricier but it's not terrible (yet). Anything on the north side is an appreciation play or flip. A lot of investors are looking farther and farther out from the city. Think Greenfield, Greenwood, Bargersville, etc. All of them are 30-40mins from downtown. Our traffic is less than other major cities (knock on wood). People commute up-to an hour for jobs in Indy regularly.
The PP is only part of the equation. Investors looking at Indy need to consider crime, price history, rent, and overall quality of the neighborhood. Some areas in Indy haven't changed for years... and it's a bad thing. Appreciation and crime don't go together. Consider the future headaches before buying cheap property.