I am right now in Indianapolis and I saw a very interesting duplex on South Denny Street (46201). The area definitely looks like a C or C- neighborhood, but the numbers look good and I am thinking it might work.
Does anybody is investing in this neighborhood? What have been you experience in it? Do you see a lot of crime in it?
HI, It really depends on the specific address. S Denny is a long street. We manage a SF in the 100 block and I would not recommend buying on that block due to the Industrial building on same block and it is a dead end block. In Indy you have to either know the area very well or take a drive.
Look closely at the condition and what you are going to need to invest to make it an attractive rental. The amount many of these homes need up front is what blows up investors numbers. Look hard at the bones and mechanicals. Look for mold in the basement. Nothing wrong with these issues that a good investor cant resolve but make sure you are doing your analysis assuming there may be issues.
@Alejandro Lisson Ramirez that's not a good area, especially for a duplex. I would never recommend a MF in any C- neighborhood.
Thanks everyone for your comments!
@Alejandro Lisson Ramirez I own a duplex on South Denny 46201. You may have been looking at mine. Tenants just left and I'm going through a full rehab next. I'm happy to talk if you want.
Thanks Sean. I will send you a private message