However, there aren't any comps of new construction in the area beyond land sales on brand new neighborhoods, and existing sales of older 4 / 2.5s are in the high 200s.

Do you mind what neighborhood in the East Side of Indy you invested in?

I've been in the market for a property in my agent's neighborhood, which is how we came to find him.

Has anyone used e1031xchange owned by the law firm of Jerry M.

However, some investors are fine with this strategy if they prefer to minimize their upfront investment and plan to refinance in a few years, especially with potential interest rate cuts from the Fed this year.At the end of the day, it’s all about investing in a growing market, selecting a solid neighborhood, and building a strong team to support you.

I doubt many tech workers are located in that neighborhood. 

@Travis Boyd The quality of the neighborhood will affect the cap rate to be used.

Is this in a residential neighborhood?  

Curious...have you already identified a specific neighborhood in Findlay where you see the most potential, or are you still exploring the entire city?

After closing the golf course in 2018, the parcel was sold to a developer named Westside Investment Partners (WIP) in 2019 who intended to remove the conservation easement and develop this parcel in a highly sought after neighborhood of Denver4.