In Indianapolis, the Bates-Hendricks neighborhood has been receiving increasing attention as prices in nearby neighborhoods such as Fletcher Place and Fountain Square have increased appreciably. The Indianapolis Business Journal has a story about the neighborhood in this week's edition (see below) .
Hidden Gem: Bates-Hendricks Neighborhood Drawing Attention (IBJ)
I was just in Indianapolis for the 2015 Landlord Convention. The prices are incredible.
@Matthew, I started invested in Bates-Hendricks in 2009. Love that neighborhood. Now it's getting harder to find deals.
@Al, the prices are great in Indy. The return is even better for buy and hold :)
Thank you for posting this @Matthew Schroeder
The demand for downtown is very real. The article is on point. People want Fountain Square and Fletcher Place but will settle for Bates Hendricks because the prices are still somewhat cheap. The spill over is driving prices in BH way up... double, apparently (ha ha.. that doesn't account for properties that were bought off market. 44 total properties sold. Yeah right, probably double that... :) Luckily the demand for rentals is just as heavy so rent has been increasing as well. 2 Bedroom houses that used to rent for 650 are now renting for 850 with the proper renovations. Tenants don't even see the boundaries like investors do. They tell there friends they live in Fountain Square!