I would really like to know what some fellow investors think of the area close to the University of Indianapolis. The area of focus is the housing between Shelby St., E Hanna Ave., and Carson Ave. Pros/cons of this area, Is area declining, stagnant, growing? Neighborhood grade? Any sweet spot streets? I'm a buy and hold investor. Would love if anyone knows what the typical home value is in this area for 2 beds and 3 beds, 800 - 1,100 sqft. Looking forward to some good response. Thanks!
I also own a property in columbus on OSU campus. It cashflows a ton, but keep in mind you will have unit turn almost every year and you are at the whim of the university.
Like @Steven Foster Wilson said OSU has asked students to refrain from signing leases till next year. This is obviously concerning for landlords and might be similar in your makret.
I would really like to know what some fellow investors think of the area close to the University of Indianapolis. The area of focus is the housing between Shelby St., E Hanna Ave., and Carson Ave. Pros/cons of this area, Is area declining, stagnant, growing? Neighborhood grade? Any sweet spot streets? I'm a buy and hold investor. Would love if anyone knows what the typical home value is in this area for 2 beds and 3 beds, 800 - 1,100 sqft. Looking forward to some good response. Thanks!
I invest on the Ohio State University and it has been one of the most profitable investments to date! Each bedroom I have rents for $550+.
However at the current moment, OSU has encouraged students to not sign leases for next year until they know whether or not school will be in person. Just something to think about.
I also own a property in columbus on OSU campus. It cashflows a ton, but keep in mind you will have unit turn almost every year and you are at the whim of the university.
Like @Steven Foster Wilson said OSU has asked students to refrain from signing leases till next year. This is obviously concerning for landlords and might be similar in your makret.
To my knowledge this is a decent C neighborhood that is close to other decent C neighborhoods like most of Beech Grove and just South everything is B neighborhood. My market doesn't necessarily have to be students since it is still pretty close to Central Indy. I assume I can get rents at about $650-$750, but I haven't invested in this area before, so confirmation of home values, rents, and if this area will be trending up in the next years would be great.
There is so much money in that area......my only concern is Covid and the future of student housing for all colleges......I think youll still be good though
@Kerry Noble Jr Yea, I think there is good potential in this area as well. Do you own property in the area? Would love to hear some of your experiences with property in this area if so. Thanks for the response!
As a parent of one college student and one soon to be college student- there are still some students that are electing to go live in on-campus housing (at a small discount due to COVID) and off-campus housing for various reasons - even if the college courses are virtual. In my parent groups, there seems to be a shift towards off campus housing due to less crowding/exposure than traditional dorms. So either way, I think it’s a good area despite COVID
My office is about mile from there. I also own several units a little north of that area. I think a solid C is about right. Not nice, but not all low income either. They just built a couple hundred student rentals there 2 or 3 years back and the demand is still there just not as high as it once was.