Active Inventory: Center Township Indianapolis (Up 775% since 2022)
I’m just going to tell you like it is. If you’re looking to sell your property now, you are likely following the herd.
That doesn’t mean you shouldn’t do it, it just means that out of the past 5 years, you’re picking the time when everyone else is selling.
Take a look at the graph above. Active Inventory in the heart of Indianapolis has gone from under 100 units to over 900. This is not inherently bad: Sub-100 units on any market (this is was for Center Township) is just unhealthy. And it was. Rates were in the 3’s, nothing was on the market, and prices shot to the moon. COVID-housing was Steroids-housing. Not real. Loony land.
Here’s the thing: I understand it completely. Holding costs are soaring. Mortgage interest has not relented. Rents have stagnated.
I own 11 residential units at the moment. Soon to be 20 once we close on our 9-unit building here at the end of the month.
Right now — I am buying only things with high upside. Tangible value-add. Clear line-of-development. Under-market rented. Seller-motivated. Anything that feels like fluff needs to be ignored. The trust is, the investor market is going through a slight correction. I’m literally seeing things in Center Township sell for less than they were bought in 2021-2023, somewhat frequently at this point. It’s not a product of our market being broke, it’s a product of impulsive decision-making. You bought thinking it would be easy, and it has been difficult since those years. Costs went up — Revenue growth slowed.
So, I’m just telling you now — if you’re selling now you are following the herd. The good news is, those folks selling are still mostly making out well.
This is a testament to the resiliency of the Indianapolis market: Folks selling from highs in Austin & Phoenix now are not making out “well”…
In fact, now is the time to buy on value. “Be fearful when others are greedy, and greedy when others are fearful.” Buffet.
Why? Rates will moderate. Indy will cut the ribbon on $8B on development pending. Population growth and in-migration is not stopping any time soon. We are on the upswing of the cycle that hit it’s bottom not long ago. And the bottom was not that bad. So stop crying about it. Sell if you must. Cover costs where you must. Be eyes wide open to value, where it’s popping up.
Midwest Rentals Are Quietly Outperforming the Sun Belt
Source: HousingWire
Sun Belt apartment markets built too much, too fast. Years of pandemic era construction are still working through lease up, and rents in cities like Austin, Phoenix, and much of Florida have flattened or fallen as landlords compete on concessions.
The Midwest never got that supply wave, and it shows. HousingWire reports Cincinnati, Minneapolis, Cleveland, and Kansas City are posting some of the strongest rent growth in the country this year, with Chicago, St. Louis, and Milwaukee close behind at 2 to 4 percent annual growth in 2025, according to RealPage. Limited new construction plus steady demand is keeping rent rolls firm without landlords leaning on concessions.
Part of the story is people moving back. The Federal Reserve Bank of Cleveland calls it boomerang migration: roughly a quarter to a third of people who leave a region eventually return, often to their hometown metro. These returnees tend to arrive with stronger credit and built in social networks, and many rent before they decide to buy, which reinforces demand in the neighborhoods they come back to.
Indianapolis fits the broader pattern, though HousingWire did not call it out by name for rent growth specifically. The article does flag Indy, alongside Columbus and Detroit, as a market where rents sit well below coastal and Sun Belt prices, drawing renters priced out elsewhere and investors looking for steady yield instead of speculative appreciation.
Why it matters for Indy investors
Limited new supply, below average rents relative to comparable metros, and a diversified job base are the same fundamentals driving outperformance elsewhere in the Midwest. Underwriting a deal here looks like a different risk profile than a Sun Belt market still absorbing new units.
This Week’s Deal Picks
Hand-picked deals either on the market, coming soon, or off-market in Indianapolis!
Carmel Ranch w/ Basement — Cosmetics Needed
1226 Bentley Way Carmel, IN 46032
5 bed, 3 bath
Finished basement
Asking $475,000
ARV $529,900
Off-Market Ready to Rent Duplex
1519 English Ave
Asking ~$345,000
Market Rents $1400-1500 / side
Monthly income potential: $3000 / month
Off-Market status, Coming soon, to by listed by Liv Indy Realty (exp)
Plainfield Starter Home Freshly Renovated by our Client
3 bed, 1 bath, 1466 sqft.
This was picked up on market by our investor client, and he flipped it
Asking $239,900
Fountain Square New Build // Rent by Room or Airbnb
1005 Churchman Ave
4 beds, 4 baths (each en-suite)
Currently managed as rent-by-the-room properties for working / medical professionals, delivered vacant
$4800 in gross top line monthly income (actual)
Asking $399,900
To be listed, Pre-market status
Off-Market in Emerson Heights
731/733 N Dequincy St. (Off-Market)
Class B- area in Emerson Heights near Irvington
Each side 2 bed, 1 bath
Total monthly rent $1905
Asking $215,000
Avon Seller-Motivated!
1156 Preakness Dr. Avon, IN
4 bed, 2.5ba, 3519 sqft.
Asking $395,000
ARV $450,000
To be listed, Pre-market status
We help sellers sell with maximum exposure both on & off-market.
If you have an off-market deal you want featured to our 3000+ email list please respond: [email protected].
If you just want more info on where the market is at and what you’re property could sell for reach out.
Larry Browning was a phenomenal guest! Getting a ton of compliments for this one…
For 47 years Larry Browning has built commercial real estate in Indianapolis on the one thing most investors overlook: relationships. In this episode he shows Max Moore and Tyler Lingle how he found the deals and raised the capital to execute through groups, creative finance, and what he calls relational equity, then how he learned to push every deal past win-win into real community impact.
Consider Pressing Subscribe on the Podcast! It’s a simple way to support what we do and get plugged in. It takes 30 seconds…
Indy StreetSweep 7/7 was a massive success! We cleaned 20 parks & greenspaces. Thank you to all who came out and lent a hand! More opportunities to serve to come.
Upcoming Events
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Thanks for the read.
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