DEAL SHEET · W42 · OCTOBER 16, 2026 |
Happy Friday Roots Fam,
The Roots leadership team spent 2 days at a brokerage conference this week focused on building EXCELLENT teams. We are at a really cool spot of scale, where we are looking to grow rapidly. If you know anyone who is looking into becoming a real estate agent or changing brokerages/teams, shoot us a reply!
Now into the deals:
Three of this week's deals have a tenant paying rent right now, and all three clear the 1% rule (monthly rent is at least 1% of the price). The fourth is a Fountain Square quad Trent just listed. All four units are empty and it needs a full renovation, so it's a project for someone with a contractor ready. Plus one I couldn't run and why, and our newest podcast on who is actually winning in this market.
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.
4 bed / 1 bath · 1,074 sq ft · Built 2008 · Indianapolis, IN 46218
ASKING $150,000 · it pays you $285/mo
Built in 2008, which is rare at this price. The last three leased houses we ran were built in 1910, 1915 and 1921.
The tenant pays $1,800 a month and the listing says the lease runs through August 31, 2027. That's about ten months of rent locked in after you close. $1,800 on $150,000 is 1.2%.
The catch: it's four bedrooms in 1,074 square feet, so the rooms are small. Walk it before you count on that fourth bedroom.
Rent and lease date are owner-reported through the listing. We have not read the lease. The listing photos show empty rooms, so ask when the current tenant moved in. Tax is modeled at the 2 percent non-homestead rate. Cash needed: $42,500.
4 bed / 1 bath · 1,250 sq ft · Built 1945, renovated · Indianapolis, IN 46241
ASKING $189,900 · it pays you $501/mo
The biggest monthly number on the board. The tenant is on Section 8 with a lease and a HAP contract through the Indianapolis Housing Agency, at $2,464 a month. That's 1.3% of the price.
With Section 8, the housing agency pays its share of the rent straight to you. The tradeoff is the agency's inspections and the paperwork.
It's been fully renovated: new kitchen, a 200 amp panel, upgraded plumbing and a mini-split. It has also been on the market for 103 days, so there may be room to talk on price.
Rent is owner-reported through the listing. We have not seen the lease or the HAP contract, and a HAP contract is easy to ask for. The listing photos show empty rooms. Tax is modeled at the 2 percent non-homestead rate. Cash needed: $52,475.
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 house + 1 bed / 1 bath garage apartment · Built 1940 · 0.19 acre · Indianapolis, IN 46241
ASKING $240,000 · it pays you $311/mo
Two rentals on one lot. The main house rents for $1,590 and the detached garage apartment rents for $1,100, so $2,690 a month together. It listed at $249,900 and it's down to $240,000.
Both were renovated. The house got a newer roof, HVAC, plumbing, electrical and windows, and the apartment has its own kitchen and bath. Two tenants means one move-out doesn't zero out your month.
Heads up: the listing photos were taken in winter with nobody living there, and the listing says tenant rights apply. Ask for both leases and their end dates before you write an offer.
Both rents are owner-reported through the listing. We have not read either lease. Tax is modeled at the 2 percent non-homestead rate. Cash needed: $65,000.
Four 1 bed / 1 bath units · Built 1921 · 0.11 acre · Fountain Square · Indianapolis, IN 46203
ASKING $249,900 · vacant, needs a full renovation
Trent Kiester on our team just listed this one. It's a Fountain Square quad with four one-bedroom units, and every unit is empty.
This is a serious reno play, not a rental you buy and start collecting on. The renovation has started, but it needs a full one. The listing puts market rent at $1,100 a unit. Get a contractor through it before you count on that number.
Tyler said on our downtown podcast last week to buy in the path of growth, in places like Fountain Square. This is one of those.
$1,100 a unit is the listing's market rent estimate, not a lease. All four units are vacant. That's why there's no monthly carry on this one.
Worth a Look
2808 N Capitol Avenue, near 28th and Capitol. $400,000. A fourplex, four 2 bed / 1 bath units, built in 1900. Three units are on long-term leases and the fourth runs as a furnished short-term rental. Tenants pay their own electric and gas, and the listing points out it's under a mile from IU Health's new hospital, which opens in 2027. I wanted this one on the board, but the listing doesn't give a single rent number. The operating statements are available on request, and until we see them there's nothing to underwrite. If you know this building, reply and tell me what it rents for. |
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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On our newest Roots Podcast, we sat down with Jared Shore, who founded Mamba Mortgage and has 14 years in lending. He doesn't try to guess where rates go next. His read is that rates stayed high but Indianapolis prices kept climbing anyway, and taxes and insurance on rentals went up with them. He walks through what still works for investors right now.
PARTNER · MAMBA MORTGAGE Jared Shore founded Mamba Mortgage in Indianapolis; specializes in investor lending. We love sending clients to Jared, he takes great care of them.
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On the Calendar
Indy Street Sweep, tomorrow, Saturday October 17. Willard Park. Grab a bag.
Coffee and Connect returns next week - Wednesday October 21. Details here.
Real Estate Masterclass, December 3, Guggman Haus. First 50 registrations are free. Details here.
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 want to print one a week, showing off investment wins in our market!
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.
