Best Zip Code/Street/Location for SFR Investment in Indianapolis

Member since 2023 · 30 posts · 14 votes

Hi,
I'm looking for SFR investment in Indianapolis, preferably up to a 200k Purchase Price (The lower the Purchase Price, the better it is). Could you please recommend zip codes/Street/Locations that you have experience with and do recommend for investment purposes?

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Veera Vala

Rental Property Investor · San Diego, CA · Member since 2019 · 28 posts · 10 votes

There are some very great suggestions given above. To add onto those, Indy is very street-by-street and you may find good deals working with a good realtor. We started investing in Indy in 2019 and now after acquiring 16 properties, we have quite a good information on most of the areas and zipcodes. Please feel free to message me and we can talk in detail.

Happy to help,

Veera Vala Trivedi

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Greg ScottPro Member
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
3y
There are dozens of zip codes and hundreds of streets that are fine places to invest in Metro Indianapolis. The state is very landlord friendly and its business-friendly practices have led to job, population, and rent growth in Indianapolis. As a result, it is much easier to talk about which areas you may want to avoid.
The East side and near the Fair Grounds are commonly considered rougher areas. Post Road has a particularly bad reputation. I'd avoid buying anything in Lawrence Township because the judge there does not like evicting people for non-payment of rent. Pike and Warren Township judges are also reported to be more difficult.
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Paul Stamm
Real Estate Consultant · IN · Member since 2021 · 139 posts · 85 votes
3y
@Ajay Panwar I'd be happy to connect you with my team to talk more about this and see how we can help you invest here in Indy! Looking forward to talking more!
1 Reply
Nick GiulioniPro Member
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
3y
What type of tenant base are you looking for? There are lots of really good zip codes but it's important to think about who you want to be the landlord for. Feel free to hit me up if there's a way I can help!
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Tyler LingleBusiness Member
Real Estate Consultant · Indianapolis, IN · Member since 2021 · 440 posts · 292 votes
3y
My team would be happy to discuss. Sounds like you're just getting going and in the team formation stage. Great stage to be in! For starters, I'd recommend looking in gentrifying, developing neighborhoods. Christian Park, Bean Creek, Near East, Near West, Beech Gove, Fountain Square would all be good candidates. We help investors buy here all the time.
[email protected]
Roots Realty Co. 562 Reviews
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Jake KnightPro Member
Property Manager · Indianapolis · Member since 2017 · 303 posts · 146 votes
3y
To add to what is already posted, you may look at the greater Indianapolis areas like Anderson and Muncie as well - we've been very active in those markets recently.
2 Reply
Brooks Rothschild
Real Estate Agent · Carmel, IN · Member since 2016 · 24 posts · 9 votes
3y
Quote from @Ajay Panwar:

Hi,
I'm looking for SFR investment in Indianapolis, preferably up to a 200k Purchase Price (The lower the Purchase Price, the better it is). Could you please recommend zip codes/Street/Locations that you have experience with and do recommend for investment purposes?

Hey Ajay, Im in the indy market as well. Let me know I can help in anyway!
0 Reply
Mark Jones
Property Manager · Indianapolis, IN · Member since 2022 · 150 posts · 59 votes
3y
We manage property all over the Indianapolis area so we see all sorts of properties in good areas and not so good areas. My staff is dealing with tenants all of the time and knows exactly what is going on where. Indy is hard to define by zip codes. Some of the areas that are seeing some good numbers are more street by street. If you have a particular area in mind, PM me and I can give you as much info as we have about it!
1 Reply
Chris MullinaxBusiness Member
Property Manager · Kokomo, IN · Member since 2020 · 172 posts · 44 votes
3y
Hi Ajay! We would be happy to have a conversation with you. Our agent sends out pocket listing emails on a weekly basis with great investment properties our clients are looking to sell. We could add you to this list if you'd like!
CRM Properties4.9519 Reviews
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Thuy Tri
Member since 2022 · 6 posts · 0 votes
3y
Quote from @Tyler Lingle:

My team would be happy to discuss. Sounds like you're just getting going and in the team formation stage. Great stage to be in! For starters, I'd recommend looking in gentrifying, developing neighborhoods. Christian Park, Bean Creek, Near East, Near West, Beech Gove, Fountain Square would all be good candidates. We help investors buy here all the time.

Tyler - I am following this thread and sent you an email re: interest in smaller multifamily and SFR in Indy. How is the Fall Creek Place and Near Northside area? I am just learning about the various areas to look for.
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Nick Szymanski
Member since 2022 · 2 posts · 0 votes
3y
I'd recommend Washington Township, Broad Ripple and Fountain Square within Marion County.
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Stephen Barton
Real Estate Consultant · Indianapolis, IN · Member since 2014 · 322 posts · 238 votes
3y
Quote from @Ajay Panwar:

Hi,
I'm looking for SFR investment in Indianapolis, preferably up to a 200k Purchase Price (The lower the Purchase Price, the better it is). Could you please recommend zip codes/Street/Locations that you have experience with and do recommend for investment purposes?

I would tell you try to stay anywhere south of downtown. Around Raymond St just south of Fountain Square and Bates Hendricks area. You should be able to find what you need in that area for that price point.
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Johann Villalvir
Real Estate Consultant · San Francisco, CA · Member since 2023 · 109 posts · 71 votes
3y
Hey Ajay, I want to answer your question with concrete data from 2022.

Top Zipcodes for Investors in Indianapolis for 2022 by the number of transactions:

1. 46201
2. 46203
3. 46205
4. 46208
5. 46218
6. 46219
7. 46222
8. 46226
9. 46239
10. 46241
These are
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Tyler LingleBusiness Member
Real Estate Consultant · Indianapolis, IN · Member since 2021 · 440 posts · 292 votes
3y
Zipcodes don't work too well as they are large and contain many variable areas. I'd suggest these for Cash flow / appreciation:
- Christian Park (C class)
- Bean Creek (C class)
- Garfield Park (B class)
- Irvington (B class)
- Emerson Heights / Bosart Brown / Little Flower (C+ class)
- Near Eastside (not so much Tuxedo Park - C+ class)
- Parts of the Near Westside near Hawthorne (C to C- class)
- Riverside (depends here... C- class)
- Mapleton Fall-Creek for duplexes (B- Class)
- South Broad Ripple / Fairgrounds (B- Class)
- Beech Grove (B- class)
- Speedway (B class)
- Devington area (B- class)
- If you want to pay 250+ then Broad Ripple (B class)
  
  We (Roots) help people buy and sell in these areas.
[email protected]
Roots Realty Co. 562 Reviews
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3 Reply
Aaron Singer
Investor · AZ · Member since 2019 · 57 posts · 22 votes
3y
Agree with much of what's been said, but especially the notion of choosing your investment class first AND your goals...are you looking for income? Upside? Risk averse?
Like many U.S. cities, Indy has neighborhoods that fall on the full spectrum of good, bad, and ugly!
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Veera Vala
Rental Property Investor · San Diego, CA · Member since 2019 · 28 posts · 10 votes
3y
There are some very great suggestions given above. To add onto those, Indy is very street-by-street and you may find good deals working with a good realtor. We started investing in Indy in 2019 and now after acquiring 16 properties, we have quite a good information on most of the areas and zipcodes. Please feel free to message me and we can talk in detail.
Happy to help,
Veera Vala Trivedi
2 Reply
James Viglione
Member since 2022 · 17 posts · 4 votes
2y
Quote from @Veera Vala:

There are some very great suggestions given above. To add onto those, Indy is very street-by-street and you may find good deals working with a good realtor. We started investing in Indy in 2019 and now after acquiring 16 properties, we have quite a good information on most of the areas and zipcodes. Please feel free to message me and we can talk in detail.
Happy to help,
Veera Vala Tried

HI Veera Vala,
Congrats on your success on the Indy market! I'm also an investor from Southern California looking in and around Indianapolis. Been actively searching for a 3bd/2bath SFH for the past few months and can't seem to find anything that cash flows 8%+ in most of the suburbs. Especially after doubling up property taxes for being an out of state investor. Places like Avon, Brownsburg, Noblesville, etc. I'm still unable to make the numbers work with a sizable down payment. If you have any advice or recommendations, I would love to hear it!
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