Updated about 1 year ago on .
New Construction Duplex I Indianapolis, IN
1646 Ingram St ($405,000), Located in Martindale-Brightwood has become increasingly attractive to both homeowners and investors. The neighborhood is seen as an up-and-coming area, and property values have been on the rise as new developments and renovations continue to take shape. Martindale-Brightwood has been the focus of several revitalization efforts led by both the city and community organizations. These efforts have included the construction of new homes, the renovation of existing properties, and the enhancement of local infrastructure such as parks, schools, and community centers. The neighborhood’s location provides quick access to downtown attractions such as the Indianapolis Cultural Trail, Mass Ave, and Monument Circle, all of which are just a short drive away.
Investment Potential: Investors have taken note of the neighborhood’s potential, with many purchasing homes to renovate and either flip or rent out. The proximity to downtown Indianapolis and growing local amenities have made this area appealing for rental properties and affordable housing developments.
Deal Breakdown: We cover all up-front costs including the land, labor, materials, and at the closing table you are delivered a rent-ready duplex. That said, we are seeking 25% of the purchase price as EMD (roughly $100K), to initiate the construction process and target a construction completion timeframe of approximately 120 days. All said, we have sold year-to-date 38 Build-to-Rent duplexes and are continuing to close lots for future development.
Estimated Gross Monthly Rent: $3,500 - $1,750 per Unit
Unit Mix: Two Three-Bedroom Two-Bathroom Units - 1,250 Square Feet per Unit
If you are interested in moving forward and have $100,000 to put towards the down payment on this property, Schedule a 1:1 appointment with me to learn more!
