What are the Best STR Areas in Indianapolis?

Indianapolis, Indiana
Short-Term & Vacation Rental Discussions
4yFollow

What are the Best STR Areas in Indianapolis?

Dan Klao
Rental Property Investor · San Francisco, CA · Member since 2019 · 16 posts · 4 votes

Hi, All! Looking for up and coming areas in Indianapolis to buy some STR properties. Can you share a few markets to look for? I'm also looking for a good RE agent that specializes in STR investments in Indy. Let's connect!

0Reply
41 views

Most Popular Reply

Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
4y

@Dan Klao An important thing to keep in mind is that people use STR's for a lot of reasons, not just vacations so you don't neccessarily have to be around tourist attractions which is a common misconception. Currently there are about 650 STR's in Indianapolis on AirBnB and the majority are not in the downtown areas. Personally, I think anything by the Speedway would be great. There's about 20 STR's in that immediate area with an average daily rate of $173 which is pretty strong. Another way of getting a good idea is looking at where there are a lot of hotels. Hotels are your competion. Don't look at the luxury hotels in the heart of the downtown area. Look at where there are a lot of more affordable hotels like Extended Stay out in the suburbs. Lastly, look on AirBnB and find the ones that have a lot of reviews. Look at where they are located. It all depends on what kind of guests you are trying to attract.

3Reply
See this reply in the discussion

7 Replies

Jump to latestLatest
  • Lyndsay Zwirlein
    Lender · Member since 2020 · 331 posts · 209 votes
    4y

    Peter Stewart is a great agent in Indy. He owns several STRs. 

    2Reply
  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    4y

    @Dan Klao An important thing to keep in mind is that people use STR's for a lot of reasons, not just vacations so you don't neccessarily have to be around tourist attractions which is a common misconception. Currently there are about 650 STR's in Indianapolis on AirBnB and the majority are not in the downtown areas. Personally, I think anything by the Speedway would be great. There's about 20 STR's in that immediate area with an average daily rate of $173 which is pretty strong. Another way of getting a good idea is looking at where there are a lot of hotels. Hotels are your competion. Don't look at the luxury hotels in the heart of the downtown area. Look at where there are a lot of more affordable hotels like Extended Stay out in the suburbs. Lastly, look on AirBnB and find the ones that have a lot of reviews. Look at where they are located. It all depends on what kind of guests you are trying to attract.

    3Reply
  • Tyler LingleBusiness Member
    Real Estate Consultant · Indianapolis, IN · Member since 2021 · 440 posts · 292 votes
    4y

    The best places are A) Within 10 minutes of downtown B) Walkable C) Close-ish to Grand Park in Westfield or D) Unique enough home to draw people there with pictures. Some suburbs need more STRs too for things like family travel and utility usage. You just need to stay up to date with regulation from those cities. This is my experience with both owning and helping investors buy STR's in Indy.

    [email protected]
    Roots Realty Co. 561 Reviews
    WebsiteView Page
    0Reply
  • Jayson Cain
    Lender · Manhattan Beach, CA · Member since 2017 · 423 posts · 268 votes
    4y

    Hi @Dan Klao I have started my out of state real estate journey in Indianapolis. Now, I have a portfolio of long term rentals and STRs. I've also helped other investors with their DSCR loans and flip projects. Happy to share my experiences and chat with you more if you're interested.

    0Reply
  • Dan Klao
    OP
    Rental Property Investor · San Francisco, CA · Member since 2019 · 16 posts · 4 votes
    4y
    Quote from @Jayson Cain:

    Hi @Dan Klao I have started my out of state real estate journey in Indianapolis. Now, I have a portfolio of long term rentals and STRs. I've also helped other investors with their DSCR loans and flip projects. Happy to share my experiences and chat with you more if you're interested.

    @Jayson Cain, let's connect! I have sent you an invite.

    0Reply
  • Himanshu Singh
    Rental Property Investor · CA · Member since 2020 · 70 posts · 20 votes
    4y

    My first STR is about to come online in Fountain square. Let me know if you have any questions. @Tyler Lingle Helped me get this charming bungalow in the heart of fountain square !

    0Reply
  • Dan Klao
    OP
    Rental Property Investor · San Francisco, CA · Member since 2019 · 16 posts · 4 votes
    4y

    @Himanshu Singh Nice! I have connected with Tyler. Thanks!

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free