DEAL SHEET · W24 · JUNE 12, 2026 |
If you own real estate in Indianapolis, or you are seriously thinking about it, this email was written for you.
Here is the stat that bothers me: Indianapolis is #2 in America for “after-5pm exodus”. People come here to work. They just do not stay.
Greg Enas is trying to flip that. He left a career at Eli Lilly, co-founded Citizen 7, and is now organizing one of the biggest voluntary park cleanups this city has ever seen. On July 7: 777 volunteers, 20 parks, 8–10 AM.
I was on the Roots Podcast with Greg for episode #59. He talked about broken windows theory: if you do not take care of one broken window in a vacant home, pretty soon everything else on the block goes downstream. That is what Citizen 7 is stopping, one neighborhood at a time. Greg is personally leading the crew at Watkins Park at 23rd and Central.
ROOTS PODCAST · EPISODE 59 · GREG ENAS
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How did Street Sweep start? Greg brought the idea to Ethan Fernhaber. Ethan brought it to me. We ran with it. As of this morning, 213 people are signed up out of our goal of 777. We need 564 more. Pick your park and register at indystreetsweep.com. Greg’s vision: Indianapolis as the joy capital of the world. I am in.
INDY STREET SWEEP · JULY 7 · 20 PARKS · 8–10 AM 213 of 777 564 spots left. Pick your park and Max will see you out there.
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Market Pulse
Mortgage rates ticked back up this week. The 30-year fixed sits at 6.66% (up 10 bps), 15-year at 6.13%. The Iran war narrative was pushing rates down. Then May’s jobs report came in at 172K versus 85K expected, and the Fed went from “maybe cut” to “maybe hike.” Locking now beats waiting on cuts that may not come.
The national picture is interesting. Existing home sales jumped 3.2% month-over-month (NAR). Median prices are still up 1.3% year-over-year at $429K. But sellers are pulling homes off the market at the fastest pace since 2020 (CNBC). Translation: the people who do not have to sell are not. The people who do have to sell are giving real motivation, real discounts, and real deal flow.
Locally, Carmel just clocked 40 days median DOM at a $580K median. Investor-grade product in Indy’s 462xx zips is moving faster than that when priced right. Five of the seven deals below come from sellers who need to move now, not later.
DEAL #1 · ACTIVE · 9 DAYS ON MARKET 3633 Salem StDuplex · 46203 · Est. rents $2,416/mo |
The 14% Board-Topper A $199K duplex that pencils at full ask and tops every deal on this week’s board for cash-on-cash. It has been listed nine days. Asking $199,000 · +$601/mo cash flow · 14.0% CoC · ≈$49,750 down ✅ Best cash-on-cash return on the entire board ✅ Only 9 days on market ✅ Day-one positive cash flow at full ask |
DEAL #2 · ACTIVE · FULLY OCCUPIED 4304-06 Norwaldo AveDuplex · 46205 · Est. rents $3,000/mo |
Already Full, Near the Fairgrounds Both sides are occupied, the big mechanicals are already done, and it still clears $666 a month at full ask. Not much to fix here. Asking $265,000 · +$666/mo cash flow · 11.7% CoC · ≈$66,250 down ✅ Fully occupied day one, no turnover risk ✅ Roof, water heaters, furnaces, and AC all replaced in the last 2–3 years ✅ $666/mo cash flow on a $265K duplex near the Fairgrounds |
PARTNER · BEST FLOORING Phil Nelson owns Best Flooring on Lake Plaza Drive — the best place to go in Indy for flooring on any construction or reno project. Fantastic selection of everything, and great people behind the business.
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DEAL #3 · LISTED TODAY 3038 Meredith AveDuplex · 4 bed / 2 bath · 46201 · Est. rents $2,200/mo |
Hit the MLS This Morning Brand new listing — Roots subscribers are seeing this one before the wider investor pool. A 46201 duplex at the upper edge of the cash-flow sweet spot. Asking $250,000 · +$329/mo cash flow · 6.1% CoC · ≈$92K projected 5-yr equity ✅ Listed today, you are early ✅ $329/mo positive cash flow at full ask ✅ $92K projected equity over 5 years ✅ Heads up on taxes: the current owner is homestead-capped at $951/yr. On a sale this reassesses, likely closer to $3,250/yr. Cash flow stays positive either way, just want you to know. |
PARTNER · MAMBA MORTGAGE Jared Shore founded Mamba Mortgage in Indianapolis and specializes in investor lending. We love sending clients to Jared — he takes great care of them.
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DEAL #4 · ACTIVE 3251 Broadway StDuplex · 6 bed / 3 bath · 46205 · Est. rents $2,800/mo |
Six Beds on Broadway A 6-bed, 3-bath duplex in a growing near-northside corridor, with below-market rents documented right in the listing. It cash flows at full ask today and grows as leases roll. Asking $309,900 · +$307/mo cash flow · 4.6% CoC ✅ Below-market rents documented in the listing — real upside as leases roll ✅ 6-bed / 3-bath duplex in a growing near-northside corridor ✅ 4.6% CoC at full ask, room to grow |
PARTNER · RUOFF MORTGAGE Zach Weddle is a loan officer at Ruoff Mortgage's Carmel branch. We love sending clients to Zach — he takes great care of them.
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DEAL #5 · ACTIVE · SHORT-TERM RENTAL PLAY 833 Birch AveSFR · 3 bed / 3 bath · 1,600 sqft · 2022 build · 46221 |
The Short-Term Rental Swing A 2022 Two Chicks & Hammer build with luxury finishes, walking distance to Elanco's global HQ, Lucas Oil Stadium, the Indianapolis Zoo, and White River State Park. As a long-term rental this does not cash flow — the whole story here is short-term. Asking $274,900 · AirDNA projects $32,500/yr gross as an STR ✅ Sub-$300K luxury-finish build in a purpose-built STR location ✅ Walking distance to Elanco Global HQ, Lucas Oil, the Zoo, and White River State Park ✅ AirDNA projects $32,500/yr gross revenue ✅ Not an LTR play — run it as a short-term rental or not at all |
DEAL #6 · ACTIVE · APPRECIATION PLAY 4746 Broadway StDuplex · 7 bed / 4 bath · Meridian-Kessler · Est. rents $4,300/mo |
The Meridian-Kessler Equity Story Straight talk: this one does NOT cash flow day one — it runs about $137/mo negative at ask. You buy it for the corridor. Meridian-Kessler is one of Indy's strongest appreciation stories, and a 7-bed duplex here builds equity while rents catch up. Asking $575,000 · −$137/mo at ask · ≈$102K projected 5-yr equity at 4%/yr ✅ Does not cash flow day one — this is an appreciation and equity story ✅ 7-bed / 4-bath duplex in one of Indy's strongest appreciation corridors ✅ 5-year equity projection of about $102K ✅ House-hack angle: live in one side and offset the carrying cost |
DEAL #7 · OFF-MARKET · HOUSE HACK 4901 Central Ave Duplex · 3 bed / 1.5 bath per side · Meridian-Kessler |
Off-Market on Central, Before It Lists This one is not on the MLS yet — it will be later, at a higher profile. Target ask is $475K. One side is rented at $1,650/mo, the other is vacant: move in, and your tenant covers $1,650 of the mortgage while Meridian-Kessler does its thing. Target ask $475,000 · One side rented at $1,650/mo · One side vacant for you ✅ Meridian-Kessler off-market — get in before it lists ✅ Newer mechanicals: high-efficiency HVAC, new siding ✅ Move into the vacant side and let the tenant cover $1,650/mo of your mortgage ✅ Not a yield buy. A lifestyle and appreciation buy. |
Or just reply “4901CENTRAL” to this email and Max will send you the package. |
P.S. If you own a property you want to sell and want 3,000+ investors seeing it, reply to this email with the address. We have sold 11 homes year-to-date for newsletter subscribers who did exactly that.
P.P.S. Why did the duplex go to therapy? It had two sides to every story.
