DEAL SHEET · W38 · SEPTEMBER 18, 2026 |
Happy Friday Roots Fam!
Before the deals this week, I want to highlight a cool story..
Next week is our September Coffee & Connect.
Our previous keynote speaker had to back out for personal reasons. In steps our wonderful agent, Ian DeFelice….
He sits in a church group with Jon Laster - a profound business and personal development coach.
As soon as Ian heard we were looking for someone to fill the speaker spot, he didn’t even hesitate. Jon was on the phone in seconds, said yes before he had heard the whole ask, and then gave us more of his time than we asked for.
The event is going to be INCREDIBLE… it starts at 7:30am, there will be coffee and Chick-fil-A, and you are out the door by nine to attack the day. Longhorn Investments is sponsoring the morning and will share some of their incredible offerings for investment financing!
Wednesday, September 23 · 7:30 to 9:00 AM · 6338 Westfield Blvd
Now the deals for the week.
Almost everything on the board is already leased, so what separates these five is not the neighborhood or the finish level. It is who is in the units, how long they are staying, and whether anybody has actually read the document that says so.
Every card runs on one model: 25 percent down, a 30-year DSCR loan at 7.125 percent, 4 percent vacancy, 5 percent maintenance, 5 percent CapEx, 10 percent management, insurance at 0.6 percent, and property tax reset to Indiana's 2 percent non-homestead level. There are no cash-on-cash figures in this issue, for the reason at the bottom.
3 bed / 1 full, 1 half bath · 1,044 sq ft · Built 1968 · Near northeast side · Indianapolis, IN 46218
ASKING $149,899 · it pays you $236/mo
Leased at $1,735 a month with about eight months left on a one year lease, and the tenant pays every utility. At $1,735 against $149,899 it collects 1.16 percent.
It was built in 1968, the roof is eight to ten years old, furnace and air conditioning six to eight, water heater four, and flooring two to four. One maintenance call in the last six months, no open code violations and no liens.
One of thirteen buildings in a seventeen unit portfolio that can be bought individually or as a package. Rent roll available on request.
Rent is owner-reported through the listing. We have not read the lease. Tax is modeled at the 2 percent non-homestead rate rather than the $1,426 currently on the bill. Cash needed: $42,475.
2 bed / 1 bath · 832 sq ft · Built 1940 · Walking distance to Riverside Park · Indianapolis, IN 46202
ASKING $108,000 · it pays you $303/mo
Rented at $1,425 a month against a $108,000 ask, which is 1.32 percent and the highest ratio on this board.
This spot was listed on April 1, and the price has come down $7,000 since.
The listing states the lease runs through September 2026, so it is up this month. We do not know yet whether it renews.
Rent is owner-reported through the listing, which also states the lease runs only through this month. We have not read it. Tax is modeled at the 2 percent non-homestead rate rather than the $1,196 currently on the bill. Cash needed: $32,000.
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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3 bed / 3 full bath per side · Roughly 2,000 sq ft a side · 1 of 2 leased · Indianapolis, IN 46201
ASKING $459,900 · costs you $363/mo to hold
Our awesome agent Ken Fletcher brought this one to us fully analyzed. 202 is leased at $2,035 on a fresh one year lease. 204 mirrors it, is finished to the same standard, and is empty today.
The building was rebuilt from the foundation up with no shared bedroom walls. Three bedrooms and three full baths a side, granite counters, quartz vanities, tiled baths, washer and dryer in each unit, dedicated parking at the rear. The assessor grades construction B minus and carries a 2010 year built.
The listing advertises a 1 percent rate buydown. Ken confirmed with the listing agent that it is a temporary 1-0, a $2,483 escrow covering about $207 a month for twelve months, not a permanent rate reduction.
It costs $363 a month to hold with 204 carried at parity, or $542 if 204 leases at $1,800 instead.
Income on 202 is an executed lease we have read. 204 is vacant and carried at parity, which is a target, not a lease. Tax here is the actual $10,832 bill, which runs above the 2 percent model. Cash needed: $119,975.
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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2 bed each side · 1,002 sq ft per side · Built 1890 · 1 of 2 leased · Indianapolis, IN 46203
ASKING $415,000 · costs you $260/mo to hold
This one’s a beauty in the HEART of Fountain Square. The price came down $10,000 on September 11. 919 is leased at $1,800 through February 28, 2027 with the tenant paying utilities, and 917 is a finished two bedroom in the same building, on a block where Fountain Square two bedrooms average $1,939.
917 has not leased above $1,075 in the MIBOR record going back to 2018. At $1,075 the hold cost is $811 a month rather than $260.
Two minutes on foot to Bovaconti, sewer line replaced in May, and solid curb appeal. The seller disclosure notes a slight bow in a basement wall, with a foundation contractor’s letter calling it structurally sound.
919 is leased through 02/28/2027 per the listing. We have asked for the document and have not read it. 917 is owner occupied and carried at parity, which is a target, not a lease. Water for both units runs on one meter paid by the seller and is not in this model. Cash needed: $108,750.
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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8 units each, all 1 bed / 1 bath · Two adjacent buildings · $949,500 apiece · Indianapolis, IN 46201
Two identical eight unit buildings, two doors apart, same asking price.
2012 pays you $114/mo · 2008 costs you $1,733/mo · both ask $949,500
Same owner, same renovation, new flooring and fresh paint and modern kitchens in every unit, electronic locks on every door, shared parking in the rear. The photo above is 2012, and 2008 next door looks identical.
2012 is fully leased and collects $9,170 a month. 2008 has six of its eight leased and collects $6,740, with two vacant units that are turn-ready and need no renovation. At the $1,175 the leased building gets, 2008 would collect $9,400.
Seventeen months of operating actuals are available on both.
Rents are owner-reported through the listings and supported by seventeen months of seller-stated operating actuals we have not independently audited. Tax is modeled at the 2 percent non-homestead rate; the in-place bill is $4,888 and will not survive a sale at this price. Cash needed: $242,375 on either building.
On the Calendar
Coffee and Connect, Wednesday September 23, 7:30 to 9:00 AM. 6338 Westfield Blvd, with Jon Laster of Laster Growth. Save your spot.
Indy Street Sweep, Saturday October 17. Willard Park. Grab a bag.
Real Estate Masterclass, December 3, Guggman Haus. First 50 registrations are free and ALMOST GONE. Details here.
Our team is growing, and we have some investment agent specialists on the team. If you want us to run the numbers on a property before you buy it, don’t hesitate to reach out! A reply to this email is a good start.
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 start printing one a week in the next issue, 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.
