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45
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6
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Benigno Cunanan
  • Woodbridge, VA
6
Votes |
45
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Looking to buy my first rental in Indianapolis

Benigno Cunanan
  • Woodbridge, VA
Posted
I am looking to purchase my first rental property in Indianapolis. I chose this market cause of the low purchase prince and relatively high rents, some still passing the 1.5% rule. I’m looking to buy in the 46241 zip code. Can anyone give me some insight on the area? This this a B, C or D class neighborhood? I was told by the agent that it is a B class neighborhood. Looking to purchase a 4/2 at around $50k that will rent for $850 to $900. The numbers seem to work but I’m not sure about the area or market. Any info, bad or good, will be greatly appreciated. I would also like to connect with any property managers and investor agents around that area too. Thanks a lot!

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User Stats

101
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32
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Harry Zhou
  • Investor
  • Walnut Creek, CA
32
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101
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Harry Zhou
  • Investor
  • Walnut Creek, CA
Replied

46241: C, not B. 

4/2 at around $50k that will rent for $850 to $900: make it C-

The lesson I learned the hard way: if it's cheap, there's  a reason...

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