Zipcode recommendation for buying rental property in Indianapolis

10 Replies

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

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.

Larry Fried, Real Estate Agent in OR (#201211636)
Originally posted by @Larry Fried :
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 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. 

Join the Largest Real Estate Investing Community

Basic membership is free, forever.