Is this SFR in Indianapolis a good deal?

4 Replies

I am starting to dig into the Indianapolis market and got a lead for a house that the owner would be willing to quitclaim over to me if I pay the back taxes of approx. $6k. The house is near the intersection of Villa Ave and English Ave on the East side of town. I am just starting to research Indy now but my guess for monthly rent would be $500 per month. It needs about $10k in rehab. Its a 2br detached house.

Would anyone with local knowledge be willing to weigh in on this one? Is this area a war zone?

Indy is a tough area to get to know because there are so many pockets of good and bad areas. You can drive a couple blocks from one really bad neighborhood to a great one. I don't know exactly that intersection but do know that the East side has some rough areas. Be careful.

I would agree... do your due diligence before jumping into this one.

I was born and educated in Indy. Got out and haven't returned. I am in the process of acquiring a 3/1 renovated home on the WEST side of Indy. My brother still lives in Indy and has strongly suggested to avoid investing on the East side due to gang violence.

I'm in agreement with Erin and Suzie that due diligence is required. Not all of the East side is troubled. For me, I prefer to look at homes outside of the IPS Indianapolis Public School District. Washington, Warren Townships are great areas without the violence, IMO.

Originally posted by Erin Weiss:
Indy is a tough area to get to know because there are so many pockets of good and bad areas. You can drive a couple blocks from one really bad neighborhood to a great one.

Near Kessler you can walk from $700k houses on one street then a block over hit $40k ha It's so bad. BUT Indy is trying to revitalize the neighborhoods.

Speedway is a big project right now.

If you didn't hear, we have some extra pocket money:
http://www.jconline.com/viewart/20130711/NEWS02/307110018/Indiana-ends-2013-budget-93-million-surplus

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