seems like some big apartments have a lake with big water fountain providing noise. 

I will certainly check them out and see how they are.And to Robert Fountain above, yes, the management company is Billwood Properties. 

For anyone interested in buying or selling a property in Indianapolis, particularly in revitalizing areas such as Fountain Square and Fletcher Place, below is an Interesting article in this week's Indianapolis Business Journal about appraisals (see link).In short, with recent strong demand & price increases in some gentrifying neighborhoods, appraisers are quite cautious to give higher appraisal values for various reasons, including regulatory/legal reasons.Additionally, it is further compounded by the fact that sales prices and property values can change significantly in the matter of a few blocks in Indianapolis, so often it is very difficult for them to find true "comps".  

The suburbs and adjancent markets can be fantastic, like Greer, fountain inn, simpsonville, mauldin, easley, piedmont etc. if you have specific questions feel free to connect, i'm born and raised greenville. 

Specifically, Indianapolis (Broad Ripple, Fountain Square, Irvington, or Lawrence areas).

Fountain is worth looking at too, seems like comparable rent with a little bit lower values.

I'm looking for my first investment property, and I'm looking for a: advice on the location and b: recommendations for a realtor in the area who has experience with investments.I'm thinking Fountain because its not a huge drive from Denver, and my parents live a few miles away so I'm down that way somewhat frequently.

Neighborhoods do change over time (usually for the worse) and even in the cases where lots of momentum is created by city initiatives, it still takes 5-10 years and there are tons of competition (look at Fountain Square and Bates-Hendricks right now.)

All,For those interested in the Indianapolis market, below is an excellent article from the Indianapolis Business Journal (IBJ) on the Fountain Square neighborhood.The local experts in Indianapolis on this neighborhood are Ryan Mullin and Ashley Mullin at FS Houses. 

Fountain Square is hot right now.