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Ruckle is at the heart of the renovation areas near the downtown civic areas. Entire blocks are being rented and renovated in this popular rental friendly neighborhood. The duplex is large with 1400 sq ft on each side. As usual complete rehab of electrical, plumbing, new furnace, water heater, bathrooms and kitchen. This outstanding value has great potential for positive cash flow and can also increase in pricing.
Demand for housing from first time homeowners has stayed very strong. Interest from out of state investors is at a 10-year high. Section 8 rents tend to average 10-15% higher than fair market rents in low income neighborhoods. New Democratic Congress will increase section 8 spending! Other Midwest cities have negative population growth. Indy has POSITIVE GROWTH. Unemployment in Indianapolis is less than national average. Indianapolis a HUGE SPORTSTOWN. NCAA headquarters, largest Indy car race (500), 2nd largest NASCAR race (brickyard 400), largest drag racing event (US nationals), 2012 Superbowl. Huge pharmaceutical industry! Eli Lilly world headquarters and countless associated companies. Less than 10% vacancy rates. Rents rising at 5% a year coupled with a the last 2 years only having a 3.5% drop in values (low compared to rest of country) Because it is the State Capitol, there are thousands of government jobs. Three universities?Butler, Indiana University-Purdue University Indianapolis (IUPUI), University of Indianapolis. Over 50,000 full time students. Indianapolis has a Convention industry that is growing rapidly. Hotels are running at 97% occupancy causing construction of new convention center and 1000 new hotel rooms. Capitalization rates of 12-20% in working class and middle class investors. Most affordable housing in the US. (median income compared to median home prices) Lowest unemployment rate in Midwest.
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