DEAL SHEET · W41 · OCTOBER 9, 2026 |
Happy October Roots Fam 🎃,
I sent this message in Slack last week. It wasn't fun to send, but it was necessary.
Here's why.
1,495 of the 4,306 homes for sale in Indianapolis on Zillow right now have had a price cut.
That's more than 1 in 3.
The median home took 23 days to sell in August. A year ago it was 17. That's up 35%.
So yeah. It's a tough market to be a seller in right now.
But if you're buying, this is the part I'd pay attention to.
A seller who has been sitting for a month is open to a different conversation than one who listed last weekend and is expecting multiple offers. There is always opportunity in the market, you just have to go find it. That’s what our agents are out in the field doing as I type this.
Price cuts: Zillow, Indianapolis city limits, pulled October 2, 2026. Days on market: MIBOR Market Insights, August 2026.
Now for the deals of the week.
Three of this week's deals have a tenant paying rent right now, and two of them are exactly the kind of price cut I was talking about up top. One of the three isn't on the MLS at all.
The fourth was sent in from Batch Ceesay, one of our best investor agents: a house that used to rent by the room.
The fifth is Tyler's own Airbnb, and he's selling it.
There is also one I looked at and passed on, with the reason, plus a look at the projects changing downtown Indy.
Every leased card runs the same numbers: 25% down, a 30-year DSCR loan at 7.125%, 4% vacancy, 5% maintenance, 5% CapEx, 10% management, 0.6% insurance, and taxes at Indiana's 2% non-homestead rate.
3 bed / 2 bath · Built 1910 · Near Eastside · Indianapolis, IN 46201
ASKING $140,000 · it pays you $205/mo
This one listed back in April at $160,000 and it's down to $140,000 now.
The tenant is month-to-month at $1,600. Rent comes in day one and nobody's locked in, so you can sign a new lease or turn it over on your timeline. Three bedrooms and two full baths on the near east side.
Rent is owner-reported through the listing. We have not read the lease. Tax is modeled at the 2 percent non-homestead rate. Cash needed: $40,000.
1211 N Gale Street
2 bed / 1 bath · Built 1915 · Near Eastside · Indianapolis, IN 46201
ASKING $140,000 · it pays you $186/mo
This one isn't on the MLS right now, so you won't find it on the usual sites.
The tenant pays $1,575 a month on a lease that runs through April 2027, and they'd like to renew. If you want photos, the details, or a showing, reply GALE and I'll send everything over.
Off-market. Rent and lease term are owner-reported. We have not read the lease. Tax is modeled at the 2 percent non-homestead rate. Cash needed: $40,000.
PARTNER · LONGHORN INVESTMENTS At Longhorn Investments, we provide financing for fix-and-flip, fix-and-rent, and new construction investment properties through a lending process that’s transparent, responsive, and built around real estate investors. Our 100% LTC financing provides qualified borrowers with access to up to 100% of their purchase and rehab costs, giving investors a powerful financing advantage while preserving more of their capital for future opportunities. Every borrower and every loan is treated like our first, and we work hard to earn your trust by delivering a reliable, professional lending experience from start to finish.
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2 bed / 1 bath · Built 1921 · New roof and gutters · Indianapolis, IN 46219
ASKING $119,000 · it pays you $242/mo
The biggest price cut on the board. It listed in June at $149,000, and after about four months on the market it's down to $119,000.
There's a tenant paying $1,450 a month, so at the new price it clears the 1% line. New roof and gutters, a front porch, and you're a few minutes from Irvington. The listing doesn't say when the lease ends, so that's the first thing I'd ask.
Rent is owner-reported through the listing. We have not read the lease. Tax is modeled at the 2 percent non-homestead rate. Cash needed: $34,750.
4 bed / 2 full, 1 half bath · Built 1985 · 0.38 acre · Two car garage · Indianapolis, IN 46268
ASKING $340,000 · vacant and ready for a new plan
Batch sent me this one and I like the setup. The last owner rented it out by the room for years, and Batch says it pulled in about $3,200 a month when every room was full.
It's empty now, so you get to pick the plan. Bring the room rentals back, or rent it to one family. Batch puts regular rents around here at $2,200 to $2,300.
Just know the listing calls it a four bedroom. The seven-room count includes the office, the den and the basement, so make sure those rooms work for how you want to rent it. Updated kitchen and mechanicals, a big back deck, and you're a few minutes from 86th Street.
Both rent numbers are Batch's estimates, not leases, since the house is empty. That's why there's no monthly carry on this one.
2 bed / 1.5 bath · Renovated 2022 · Christian Park · Indianapolis, IN 46201
ASKING $185,000 · $2,375/mo average on Airbnb this year
This one is Tyler's. He's run it as an Airbnb for four years, about 74% booked this year with a 4.8 rating on 106 reviews. It sells furnished with the management in place, steps from the Pennsy Trail.
Want mid-term instead? Tyler puts nurse and contractor rents at $1,850 to $2,100 a month.
Owned by Tyler Lingle, Roots co-founder and licensed broker. Income is from Tyler's 2026 Airbnb report (Feb to Sep). Expenses are his estimates and don't include utilities. Cash needed: $51,250.
Worth a Look
1211 W 30th Street, Riverside. $149,900. Four bedrooms and 1 ½ baths, built in 1900. Four bedrooms under $150,000 gets attention, and the listing leans on the Riverside Park redevelopment under a mile away. But it's vacant with no rent on it, not even an estimate, so I can't underwrite it. If you know what a four bedroom rents for on that stretch of 30th, reply and tell me. |
PARTNER · HAUS CONSTRUCTION Haus Construction handles everything from routine maintenance and inspection responses to general contracting, roofing, exterior work, and full renovations. Making it easy for homeowners, investors, and property managers to have one trusted team for the job.
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In our newest Roots Podcast, Tyler walks through six projects going up downtown and around the city. There's a crazy amount of money going into these and honestly a lot of them fire me up.
| Project | Cost | Opens |
| Signia by Hilton 38 stories and 803 rooms beside the convention center, with the largest ballroom in Indiana | $510M | Fall 2026 |
| Traction Yards Circle Centre Mall reworked into an open-air district with 300 homes, shops and offices | $600M | First phase 2029 |
| Ritz-Carlton and Live Nation venue Indiana's first Ritz, 176 rooms, plus a 4,000 capacity music venue near Gainbridge | $300M | Venue fall 2027, hotel 2028 |
| Fever Sports Performance Center 108,000 square feet on the old Marion County Jail I site | $78M | May 2027 |
| Cole Motor 213 loft apartments in a 1913 car factory, plus a second home for The Vogue | $120M | Under way |
| Westin Indianapolis Airport 253 rooms on the terminal campus, connected to the garage | $206M | Dec 2027 |
Two of the six put people downtown to live, not just to visit: 300 homes at Traction Yards and 213 lofts at Cole Motor. Tyler's read for investors is to buy in the path of that growth, in places like Fountain Square and the near west side, before prices move. That's his take, not a forecast.
On the Calendar
Indy Street Sweep, Saturday October 17. Willard Park. Grab a bag.
Coffee and Connect returns Wednesday October 21. Details here.
Real Estate Masterclass, December 3, Guggman Haus. First 50 registrations are free. Details here.
PARTNER · RESOLUTE LENDING Seth Wilcock is the founder of Resolute Lending, operating under Independent Mortgage Brokers (IMB). He holds multiple mortgage certifications. We absolutely love sending clients to Seth, he always takes care of them.
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That's the week. Grateful for you all.
If you want us to run the numbers on a property before you buy it, reply to this email!
Plant roots, build wealth.
Max
P.S. Bought something in Indy in the last twelve months? Reply WIN with the address and what it collects. We print one a week, first name only, and you can tell us to leave the number out.
This model is a comparison tool, not a property budget. It excludes utilities, turnover, legal use, furnishing replacement, debt-service lender fees, and property-specific capital work. It also does not assume appreciation. Read the lease, verify the operating statements, inspect the property, and confirm financing before making a decision.
