Bates-Hendricks or Irvington: What's your Favorite?

6 Replies

Considering two properties in Bates-Hendricks (Iowa St) and Irvington (Butler Ave). Pretty much have a decision made already in my head but just wanted to see the feedback from some other viewpoints. Both properties are pretty much identical. •3/1s •Roughly 1,500 square feet •Both Turnkey •Both 2-car garages •Both in low 50Ks and estimated rental value of $775-800 Only differences: •BH home was built in 1890; Irvington property 1923 •Irvington prop has a 1,000+ square foot unfinished basement; BH prop has a typical basement of 300sf •Irvington prop is being sold as-is; BH prop open to inspection corrections. Which one would twinkle your eye was an investor of Indy?

Im not an Indy expert but I do have 3 rentals there.  I have one in Irvington and one in Bates Hendricks.  The other one is in Lawrence.

I like my BH one best because its closer to downtown and I feel like that area has more potential for appreciation growth then Irvington.  I would go BH!

@Travis Washington

I don't know Irving ton but people think Bates Hendrick will be the next Fountain Square an area that saw some really good appreciation if you look at pricing over the past 6 months or so. 

Alexander A. How long have you had your properties? Does your BH perform best out of all of them?
I would buy them both :) . If I had to choose simply based on the area I would go with Bates Hendricks. But it's hard to make such decisions without more details. Location is important but only 1 piece of the puzzle. Dig deeper into each property and consider all the pros and cons. If you do it right eventually you will be able to decide which property works best for you. We all have our own unique approach to investing. Don't let anyone tell you it's there way or the highway!

It all depends. You can't make generalizations about any areas in Indianapolis since it can vary street to street. Irvington has areas with homes selling for over $299K and other areas selling for $40K. You'll find the same thing in Bates Hendricks. Some areas have homes selling for over $100K and others for $30K. Both can be good areas.

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