Indianapolis has a special place in my heart. I went to college here and decided to stay. I often talk fondly about places like the Broad Ripple Brew Pub, one of the best local breweries in the country. The Rathskeller is one of the coolest buildings I’ve been in and has some fine schnitzel. I love Captain Jay’s fried fish and chicken on 38th, and I think that the town has one of the best art museums in America. It’s silly to me that people call it Nap Town. There are a ton of exciting things in Indy if you know where to look.
This extends to the real estate market. For investors looking to expand, there are a lot of great up-and-coming neighborhoods in Indianapolis with solid ROI potential. It doesn’t matter if you’re a grizzled veteran or looking to get into real estate investment at a young age. Indianapolis has opportunities that can make your business bloom. It’s the crossroads of America. This guide can help you make the right turn.
5 Up and Coming Neighborhoods in Indianapolis
For a long time, Indianapolis has had the same issues as many other major American cities. There have been pockets of expensive homes in areas like Carmel, Meredian-Kessler, and more. And, there have been huge stretches of post-industrial neighborhoods that hadn’t recovered from the decline in industry. These were largely downtown and along the river.
Thanks to some universities and pharm industry relocations, a few neighborhoods changed their fortunes. And, now with more tech investment and healthcare companies coming in, the city is booming with young professionals—and beginning to revitalize all over.
That means a lot of neighborhoods are on the verge of even more healthy growth, but still have a good supply of distressed houses to buy, renovate, and sell. If you’re looking, here are five up-and-coming neighborhoods in Indianapolis that I recommend.
1. Irish Hill
Just north of downtown, Irish Hill was once the political heart of Indianapolis, then saw some rough times and had a reputation as a dangerous area. But, as downtown has flourished, people are beginning to move into Irish Hill. There are a lot of lofts, but as young professionals start families, they’ll be eager to move into the single-family homes that dot the area. This area has vital authenticity to it, and you can find some great deals on older homes ready to be renovated—if you have the right lead generation strategy.
South and east of downtown, Bates-Hendricks is fast becoming a must-live for young professionals. It’s an easy drive to downtown, and is bordered on two sides by 70, letting you get where you need to be. More than that, it is one of the primary beneficiaries of Indy’s expanded bike lane programs, deeply appealing to young up-and-comers. The neighborhood is full of green spaces, a lovely riverwalk, and most importantly, single-family homes that can still be bought at a price that is in reach of local incomes. You can expect to sell at a potentially good price point if you find a deal here.
3. Lockerbie Square
This might be the coolest neighborhood on the list. How’s this: near downtown—less than a mile from Fountain Square. Houses with huge lots. Historic homes from the 1800s ready to be renovated. All of which you can get from distressed homeowners who want to avoid a renovation. This is the kind of neighborhood that attracts young professionals looking for something unique, as long as it’s been modernized. It’s perfect for your real estate investing business plan.
4. Mars Hill
Located in Southwest Indianapolis, Mars Hill is a working-class neighborhood that has seen its share of rough times. What it has going for it now is an abundance of single-family homes, proximity to 65 and 70, and closeness to the airport. It’s a perfect place for commuters who don’t want to live downtown and are looking for nice, spacious homes with yards and an easy distance from everything. There are hidden gems in Mars Hill, and a chance to get in on the ground floor.
5. Willard Park
This neighborhood possibly has the best potential ROI, as it is just beginning to rebound from decades of neglect. Community activists have shouldered the burden of revitalization, and their effort shows. Just east of downtown, this area has the potential to shoot up quickly. There will still be many good deals to be had here, if you know where to look. It’s a chance to make a difference in your community.
How to Take Advantage of the Indianapolis Real Estate Market
I get that this is a lot of information. It’s hard to know exactly where to start. How do you scout every neighborhood? Well, if you’re like me, an independently owned and operated HomeVestors® franchisee, you don’t have to. I get qualified leads from people who have seen the nationally-known and trusted “We Buy Ugly Houses®” marketing campaign and are looking to sell quickly.
This means I get to go directly to eager sellers. HomeVestors® has been around since 1996, so I already go in the door with well-established trust and goodwill. That’s the easiest way possible.
So, if you want to explore up-and-coming neighborhoods in Indianapolis and do real estate investing the smart way, contact HomeVestors® today. I’ll let you thank me at the Broad Ripple Brew Pub.
Each franchise office is independently owned and operated.