Duplexes, MTR Cash Flow, Downtown SFR, Indy Deals You Shouldn’t Miss

If you opened for the deals, both on or off-market, keep scrolling down!

Jumping right into it… Investors delivered 216.9% more starter homes than builders last year. New builds start typically ~$400,000 depending on the community, which pushes the mortgage payments into the $3000’s. Not friendly to first time buyers.

“More than 25% of downtown (Indy) offices sit empty as northside booms.” Ouch. I guess that office correct did happen… There is one notable exception which is Bottleworks on Mass Ave, which is fully pre-leased before construction is even over.

Housing Watch

• The Fed voted to keep the Fed Funds Rate static versus a rate cut amidst inflation concerns with the Iran Conflict & oil prices (Source: CNBC)

• Rates took a slight jump up this week with those same inflationary concerns (avg 6.22-6.33%)

• Here in Indy median days on market has been dropping FAST (50 in Jan → 32 in Feb → Expected to be teens by peak season)

• The week of April 13th is officially the best week of the year in Indianapolis to list your home for peak exposure & buyer activity

• The U.S. Senate passed the bipartisan 21st Century ROAD to Housing Act on March 12, aiming to increase housing supply and affordability by easing regulations and restricting large institutional investors from buying single-family homes — there are also many provisions to relax building codes & zoning regulations to encourage builders to pump out more product (Source: Time)

• The Trump administration is pushing a bill that would lead to sweeping “Appraisal modernization” including more “hybrid” appraisals, “desktop” appraisals, and use of AI — This is a welcomed relief to many investors / lenders / agents that have long felt the process was highly subjective (Source: Congress.gov)

On to the deals…

This Week’s Deal Picks

Hand-picked deals either on the market, coming soon, or off-market in Indianapolis!

Pleasant Run Duplex!

• 1905-1907 E Pleasant Run S Dr.

• Fully updated & leased sides for $1675 & 1625

• 2 bed, 2 bath units

• Asking $399,900

• Why I Like This Deal → Admittedly more of an appreciation play but with turnkey finishes & new systems (electrical, sump pumps, appliances) it makes for a streamlined & easy investment duplex in a Class B area.

Duplex in Arsenal Heights!

• 19-21 N Randolph St.

• 4 bedrooms & 2 bathrooms & 1700 sqft each side!

• Leased for $1645 & $1720 per side

• Asking $375,000

• Why I Like This Deal → Each side is massive at 1700 sqft, this has also been updated & is livable but with potential for cosmetic renovations in the kitchen & bath to increase value.

Off-Market Home with Basement ADU!

• Community Heights, Addressed Undisclosed

• Upstairs is 3 bed, 1 bath set up; Downstairs is set up as a MTR unit (2 bed, 1 bath)

• Basement is leased for $1400 / mo; Upstairs has been leased for $1800-2000 / mo

• Asking $300,000

• Why I Like This Deal → The minimalist modern finishes are stunning, needs no renovation or uplift, just rent and collect. It’s located in a safe & livable area of Community Heights just outside of Irvington.

• Off-Market

9-Unit Apartment Building in Broad Ripple

• 9 unit multifamily apartment in Meridian-Kessler

• Asking $1.2M

• Stabilized value post-renovation → $1.7M

• We are looking to raise capital for a private equity fund to purchase this building; you can be an investor in this one. Expected annual ROI is 14.6%

• More details here

STR play, 2-bed home near Lucas Oil - or higher end rental

• 341 E Morris St.

• 2 bed, 2.5 ba single family home

• Previously rented for $2300, long-term

• AirDna Airbnb Projections ~$3250-3500 / month

• Why I Like This Deal → Higher end finishes, tasteful design, low overhead & capital expenditure, quick path to cash flow, close to all the action downtown.

• Asking $265,000

We help sellers sell with maximum exposure both on & off-market.
If you have an off-market deal you want featured to our 3000+ email list please respond: tyler@tylerlingle.com.

New Podcast Drop

Check out a new segment called “Roots Ranks” where we rank the 5 profit centers of real estate.

S/O to Dave Short & Steve Lehman for crushing last night’s panel at Masterclass!

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