Indianapolis Knowledge What i have learned
Indianapolis.... Most Confusing market to understand for a New york investor but like most mid west states. There no particular bad neighborhoods such as in NY. Mostly its just a bad block and then a good block right next to it very block by block.
BUT.....
I have come to realize 46218 zip code is a more of a tougher area but also a lot of investors theres as well. (correct me if I'm wrong)
46201 being a very popular one with it being just east of the city, problem i see here is the house values are between 50k to 90k on duplex homes and rents typically being around 600 to 700 a month.
Anyways i have purchased one home in 46205 zip code right on the border of the 46218 zip code and tenants are great (so far) house appraised at 145k and i payed right up there because i got 1 more house for pretty much pennies on the dollar (bundle deal)
The other properties are in the west side/ smaller homes and 46221 zip code.
In my opinion i would say most of the neighborhoods and zip codes i just listed excluding 46218 are B- to c+ neighborhoods
Do u guys agree with me because I'm already working on more and more deals in indianapolis and so far prices seem right and tenants seem to be all good as well but only time will tell . If your a experienced Investor in buy and hold in Indianapolis is there certain nieghborshoods u would stay out of?
Thank you
Hanna