Zipcode recommendation for buying rental property in Indianapolis

10 Replies

What are some good Zip codes recommendations for buying rental property in Indianapolis?

@Lalit K. What type of property are you looking for? Indy is street by street so an overarching zip code isn’t the best option in my opinion. 45203 is a good one though.

It will depend on the price range. What is your price range?

Originally posted by @Rob LaRovere :

Lalit K. What type of property are you looking for? Indy is street by street so an overarching zip code isn’t the best option in my opinion. 45203 is a good one though.

 Rob, did you mean 46203?  The one you list is in Cincinnati.

Originally posted by @Larry F. :
Originally posted by @Rob LaRovere:

Lalit K. What type of property are you looking for? Indy is street by street so an overarching zip code isn’t the best option in my opinion. 45203 is a good one though.

 Rob, did you mean 46203?  The one you list is in Cincinnati.

 Yes I did!  Thanks and good catch, Larry.  

@Rob LaRovere @Daniel Kim I am looking for cash flow properties in 100k-150K  range in good neighborhood with some appreciation potential as well.

I would recommend Fountain Square and Bates Hendricks.  They are south of the city in 46203.  @Lalit K.

I also recommend 46237 area or west of I-465 (46278, 46254, 46214).

I owns 2 rentals in 46237. 

Purchased cash from HUD in 2016 for 52,000 and put 5,000 for update. It's been running for $950 since then. Current value is about 80,000.

Personally I like newer and smaller homes (built after 2000, 3 beds 2 full baths and 2 car attached garage, about 1200 sq.ft) because they are less likely to have maintenance issues (Tenants called me 2-3 times for minor repairs last 1 1/2 years). 

@Lalit K.   I just ran BLC.  These two properties available ( 1995 + , $100,000-150,000) - 46,237, 46254, 46214 area.

6736 Redan Drive, Indianapolis, IN 46254

5719 Blackley Lane, Indianapolis, IN 46254

I often see good homes are gone (pending) within hours by local investors. 

@Rob LaRovere I agree on the zip codes and street by street for Indianapolis.  I'm in and out of those areas all the time.  If anyone has questions, feel free to reach out.

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