Wanted to get the BP community's thoughts on Noblesville. Seems like the schools in that area are good but home prices seem to be a bit higher. I'm thinking about buying and renting it out. I did see a few homes under 75k there.
Yes, all of Hamilton County [north side of Indy Metro] is great. Except for the pricing, as you mentioned, can be high vs. the rent.
Most homes in Noblesville will be older [1910-1960].
$75k will get you a typical older home in or near down town that should rent for $800-$900. At that price, it probably will be in rough to fair condition.
IMHO - I recommend sticking to the post war built homes in the outlying areas of Indianapolis Metro near the I-465 Loop.
@Kevin L. , I agree with Shawn. I live in Noblesville, you have the older, the vinyl villages, and a couple of nice golf course communities. Not sure how you landed on Noblesville from Austin but if i'm able, i'll be glad to eyeball a house that you may be interested in. Just pm me.
Thanks guys. I just started looking on google maps & school ratings and the schools & location of Noblesville caught my attention!
As stated above from my fellow Hoosiers, your money is likely better served elsewhere. I invest in downtown-ish areas. Riskier, but I haven't had any serious issues yet. For $75k you should be able to land a nicer home on the outlying metro area that rents for $700-800
Hamilton cty is the wealthiest county in Indiana, by a large margin...and one of the wealthiest counties in the entire Midwest.
Noblesville is the county seat, and is a bit different than the rest of the county..in that it has a much older history as a town, and is not solely suburban Indy growth....though still is predominately.
You can find some older homes right in town for cheap, and would be a very stable investment. Your returns won't be as good though as you can find in Indy.
Thanks for the background guys !
I am looking for a partner/mentor/investor to help get my start in REI I have years of experience making money for others in real estate and am looking to start out on my own. Message me or look me up on Facebook so we can work out logistics.
All of Hamilton County also has great schools - a bonus to our community. I am an investor who also sells real estate for KW. My rentals outside Marion county are commanding higher rent. They range from $1490 to $1550. All were priced under $130,000. My tenants in Hamilton county have all been good, long term tenants that take care of the property. If you need help, give me a call. 317/213-3278.
How are the newer vinyl villages in terms of buy and hold rentals?
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