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317-492-9025
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FS Houses: Buy Sell Rent

Urban Indianapolis Real Estate

317-492-9025

News

Just South of Fountain Square – 40k

By

Ryan Mullin

Posted in FS Houses On February 11, 2016

Performing rental house just blocks from Fountain Square for only 40k!

We are offering 1525 Spruce for sale.  It’s rented at $625 to an excellent tenant.  Move in is March 1st. 

Purchase price is $40,000 – not negotiable.

Taxes are $53/month

  • Brand new hot water heater
  • Brand new furnace
  • Brand new central air

Cosmetically this is not one of our “WOW” type rehabs.  This is a very modest “save what we can” rehab.  Hence the $625 rental rate and the $40,000 sales price.  The roof appears to have a good 10 years left on it. Plumbing and electrical have been updated but not entirely new.

We have purchased, renovated, leased and currently manage 5 houses on this block and they all perform very well.  one of which is a 3 bedroom with the same sq footage (nicer finishes) that rents for 900/month.  Just 3 blocks north of this address is where some of the most expensive properties in Fountain Square have sold.  Google 1218 Spruce for an example.  Sold for 318k. = good indicator of the potential for appreciation and increase in rents.

An inspection will certainly uncover some items to be addressed.  This is normal. We have a reasonable amount of money set aside to make corrections.  

Please contact us with questions!70a1513d-8c03-4da6-bc47-1fec209b6753_large

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FS Houses: Buy Sell Rent
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