Indy Rental News for Investors

The Crager-Bartels Team have found a few great deals from the close-outs that KB homes is having in the Indianapolis marketplace. All three will cash flow nicely and are great homes for the $$$

If you purchase one of these properties through Crager-Bartels Real Estate, we will throw in the 1st year of property management for FREE

KB is having 10% off on all move-in homes until Sunday through Crager-Bartels Real Estate. This is on top of the substantial discounts they are currently offering to move their inventory homes.

why the massive discounts? KB homes is moving out of the Indianapolis marketplace and wants to sell their current inventory homes fast. Their loss is your gain.

Brookfield Place by KB Homes

Of the 30+ inventory homes I have researched over the past few days, there is three that come up as good investments with positive cash flow for investors such as yourself. These are as follows:

1)8025 Cole Wood Blvd. Original price was $166,345. After first set of discounts and the additional 10% off, this home is now priced at $130,410. This is a 3 bedroom with a bonus loft, 2 car garage, upgrades, almost 2,300 sq.ft.
2)8005 Harshaw Drive. Original price was $164,578. After all discounts including the 10% off current promotion we have captured, this home is priced at $125,910. This is the best deal of all three. 3 bedroom 2 1/2 bath two story with 2,456 sq.ft. 3 car garage! And an extra 4 season sunroom directly off the kitchen. This one will not last long at all at this price. I don’t think I have ever seen a new home with a 3 car garage go for $126k.
3)8038 Harshaw Drive. Original price was $212,523. After discounts and the additional 10% off, this investment can be yours for $152,910. This is a large 4 bedroom with a bonus loft, 2 car garage, and 3,084 sq.ft. We have one identical to this rented out two blocks away for $1,500/month.

Here is some additional photos of these

cash flowing Indianapolis properties:

8005 Harshaw Place Cash Flow

8038 Harshaw Place Cash Flow

8025 Cole Wood Blvd Cash Flow

If you are interested in purchasing any of these properties, contact Craig Bartels at 317-490-5074 or Derek Crager at 317-796-9825.

Indianapolis Homes For Sale

This is another great reason to invest in the suburban Indianapolis, Indiana area. Sustained job growth and great pricing.

PLAINFIELD, Ind. — Browning Investments and Duke Realty Corp. on Thursday began concerted marketing of their AllPoints industrial parks — developments that could land up to 10,000 jobs over the next decade.

The Indianapolis-based developers joined forces in the $745 million plan for development of the business parks in Hendricks and Boone counties.

With helicopter rides, Browning and Duke executives took to the air to show real estate brokers and potential tenants how the two parks nearly 15 miles apart will be linked together and to interstate highways via the new Ronald Reagan Parkway.

If marketing pays off, the AllPoints parks will have one of the largest concentrations of jobs and business investment in Central Indiana, officials said.

The joint developments were timed to take advantage of a booming interest in new office, light industrial, warehouse and distribution buildings.

Charles E. Podell, senior vice president of Duke, said the market for large industrial buildings of hundreds of thousands of square feet — which has been in turmoil since 9/11 — has shifted.

“We’ve seen more deal activity in the last eight weeks than we’ve seen in the last couple of years,” said Dennis Dye, executive vice president of Browning.

AllPoints is divided into two sites. The 922 acres on the northeast side of Plainfield, AllPoints Midwest, is prepared for 12.5 million square feet of industrial buildings. That represents a potential of 5,200 jobs as approximately 14 buildings go up.

The developers have the first building, about 646,000 square feet for bulk storage, under construction on the speculation that a tenant will be signed soon.

It will sit next to a new section of Ronald Reagan Parkway that is also under construction by Plainfield under a $14 million bond issue to expand roads in the industrial park area.

Duke Vice President William D. Friedman said AllPoints Midwest is also next to a large railroad yard in Avon, in a perfect spot to receive a share of the $5 billion in foreign-made goods flowing into Indiana each year.

The other portion of the project, AllPoints Anson, is 616 acres at the I-65 and Ind. 267 interchange, west of Zionsville and next to Whitestown in Boone County. It will have 24 smaller buildings totaling 7 million square feet for light manufacturing. The first building of about 630,000 square feet is up, and work on a 280,000-square-foot structure will begin soon.

Where would you like your next investment to be?  Call Derek or Craig for a free investor consultation on the latest, greatest and unadvertised places to invest in the suburban Indianapolis, Indiana area.  317.796.9825 or 317.490.5074

Editor’s Note: Keep Buying in Indy. Call Derek or Craig for the best investment opportunities in town.  317.796.9825, 317.490.5074, 317.839.8786

(Washington – June 28, 2007) – The metropolitan areas encompassing Indianapolis-Carmel, Ind. and Youngstown-Warren-Boardman, Ohio-Pa. tied for the title of most affordable major U.S. housing market in this year’s first quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released today. Meanwhile, lower home prices and mortgage interest rates helped boost housing affordability across the nation in the first three months of this year.

“The latest HOI shows that about 44 percent of new and existing homes that were sold in the United States during this year’s first quarter were affordable to families earning the national median income,” said NAHB President Brian Catalde, a home builder from El Segundo, Calif. “This is up from 41.6 percent of homes sold in the final quarter of 2006, and is likely the result of lower house prices as well as the very favorable financing conditions that existed at the beginning of this year.”

“The national weighted interest rate on prime quality fixed- and adjustable-rate home mortgages, which is used in calculating the HOI, slipped to 6.4 percent in the first quarter of this year, down from 6.52 percent in the final quarter of 2006 and the lowest level since the first quarter of 2006, when it was gauged at 6.39 percent,” said NAHB Chief Economist David Seiders. “Meanwhile, following a strong nationwide surge that started in early 2004 and continued through mid-2006, overall home prices weakened for three consecutive quarters leading up to and including the period encompassing January through March of 2007. Together, these factors improved the typical family’s ability to purchase a home,” he said, “although tightening of lending standards in the subprime component of the mortgage market certainly affected more marginal credit risks as the first quarter drew to a close.”

In the nation’s most affordable major housing markets of Indianapolis and Youngstown, 89 percent of new and existing homes that were sold during the first quarter of this year were affordable to families earning those areas’ respective median household incomes of $63,800 and $51,400. The median sales price of all Indianapolis homes sold in that time frame was $116,000 and the median sales price of all Youngstown-area homes sold was just $78,000. Also near the top of the list for affordable major metros in the first quarter was Dayton, Ohio, followed by Detroit-Livonia-Dearborn, Mich., and Grand Rapids-Wyoming, Mich., respectively.

Midwestern metros also dominated the list of the most affordable smaller housing markets (defined as those with fewer than 500,000 people). Kokomo, Ind., was at the top of that list, followed by Lansing-East Lansing, Mich.; Lima, Ohio; Saginaw-Saginaw Township North, Mich.; and Bay City, Mich., in that order.

Once again at the bottom of the affordability scale was Los Angeles-Long Beach-Glendale, Calif., where just 3 percent of homes sold in the first quarter were affordable to families earning the metro’s median household income of $61,700. The median price of all homes sold in that area was $525,000. As usual, Los Angeles shared the bottom of the affordability scale with other major California metros including Santa Ana-Anaheim-Irvine as the second-least affordable, San Francisco-San Mateo-Redwood City as the fourth least affordable and Modesto as the fifth least affordable large housing markets in the nation. As the third least affordable major metro, New-York-White Plains-Wayne, N.Y.-N.J. was the only non-California location within the bottom five.

Continuing the trend, all five of the least affordable small cities (populations under 500,000)

were located in California during the first quarter, with Salinas at the very bottom of the chart followed by Merced; Santa Barbara-Santa Maria-Goleta; Napa; and San Luis Obispo-Paso Robles.

UPDATE:  Brand new home available to investors only at $144,000. Original sold at $202,000. Call 317.796.9825 for itemized list of amenities and price list for this incredible 3BR, 2.5BA, 3CAR home.

This was a fall through that the Crager-Bartels Real Estate team has rescued and set aside for you. Their loss is your gain.

We are happy to manage this property for you and believe $1300-$1400/mo income is easily attainable.

More photos can be found at Our Custom Photo Album by clicking HERE.