West Side housing (Indianapolis, Plainfield, Crawfordsville: bank owned, real estate market, apartment)

[akjason]

Looks like it's 50/50 I will be moving to Indy within a month for a new job opportunity, so I'm doing some research. New job will be on the west side near 74/465 intersection. Was looking at Speedway b/c of it's proximity to the job and IMS (the two are related...). I've heard mixed reviews of Speedway, but overall positive. Broad Ripple sounds very interesting and similar to where I lived while in school, but it'd be too much of a commute every day.

About me:
25yo single male
2 years out of college
Have lived in large urban, small urban, suburban, and rural areas. All have their pros/cons. Suburban is mostly cons at this point in my life.

What I'm looking for:
15min (ideal) - 30min (max) commute
House with secure garage (l have a lot of tools)
Decent yard for BBQs (maybe a dog down the road)
Safe area (where I don't have to worry too much about my soft top jeep getting broken into)
Neighborhoods with character (no cookie cutter homes or subdivisions)
$125k-$150k price range

I'll probably end up renting before I buy since this will be happening so fast - is there much of a market for rental houses in Indy? I've had my fill of apartment living, although a few months might be tolerable.

Any recommendations on where to meet young single professionals like myself? I'm aware of Broad Ripple but I don't entirely care for the bar/club scene, but I'm certainly no stranger. Hiking/cycling clubs? Dance lessons? I did weekly salsa "learn and dance" nights with friends in Cincy, that was always a great time!

Thanks for your help in advance!

[Stretchad]

I think Speedway sounds like a good area for you based on what you're looking for. Make sure you're in true speedway area though. You might want to look at the south side?? I don't know the south side all that well, except for the the cookie cutter areas, but there might be some areas that'd be reasonable commuting distance, and still have unique homes w/ nice yards, etc.

Regarding rentals, I think you will be able to find a pretty good market for rental houses. Because the real estate market is slow, some people have had to resort to renting out their house instead of selling (like me!). I had to relocate to attend school and it wasn't the right timing to sell so we decided to rent out our place. It's still rented now, but is on the market, however if it doesn't sell within the next 6 months or so, we'll take it off and leave it as a rental.
One caveat is that in order to find a rental house that fits some criteria you've described is you might have to compromise a bit on some things...location maybe.

Good luck!

[akjason]

Thanks for the info Stretchad. What do you mean by "true Speedway"?

[ImGibby]

Rental market in Indy is strong. Lots of bank owned / foreclosures to gobble up and tenants are abundant and rent prices will more than cover your mortgage pymt. As with any market, the key is to make sure you buy right in the first place.

I don't think Broadripple would that bad of a commute...maybe slightly more than the 30 min max you desire, and the home prices are slightly higher than other areas with comparable houses, but within your price range. Good rental market there to, but the deals are are harder to find when talking about investment poroperties....but the rent is higher also.

[nursema]

Since you mentioned some safety and security issues, I would not choose the west side personally. I live south myself and commute quite a ways to work daily, but feel it is worth it. You could try others areas on the west side which are very nice. A few suggestions would be Avon, Plainfield or Brownsburg....there is even a little town of Clermont along the way which is close and has reasonably priced houses to rent. There are rentals everywhere. Well, just my two cents! Good luck to you

[Stretchad]

Originally Posted by akjason

Thanks for the info Stretchad. What do you mean by "true Speedway"?

The town of speedway has some weird borders I believe...so I could see some sellers listing their homes as being in Speedway (because they're close to the track) when in reality they're not really in the Town of Speedway.
Speedway is actually its own little town within Indianapolis and has its own fire and police departments, utilities, etc.

My uncle lives in speedway in a cute neighborhood. The neighborhood is north of 25th, east of High School Road, and south of Elaine Rd (essentially, where 30th street would be, if it continued west). He's got a good sized lot, cape cod style home w/ basement, hardwoods. Some close family friends live a bit closer to the track in the area south of 25th, east of lynhurst, west of georgetown, and north of crawfordsville road. I like this area too (the houses seem a little smaller than my uncle's area) but it's SO close to the track. Our friends make a lot of loot renting out their front yard as parking for the race every year! Hopefully you realize that at least twice a year you'll be battling race traffic (cars AND people) if you live in this area.

The town of speedway continues south of Crawfordsville road, but I don't know that area that well. I like the areas north of crawfordsville road, west of the track, east of High School road, and south of 30th street the best.

[Stretchad]

Originally Posted by nursema

Since you mentioned some safety and security issues, I would not choose the west side personally.

I kind of disagree with this...There are areas on the west side that are safer and secure. There are pockets where you might not want to be. I would recommend looking at the areas around 465 on the west side, both inside and outside the loop. If you start at 465 on the west side and start heading in towards downtown, it seems to get sketchier as you move in closer towards the city. My husband grew up in an area of washington township that was literally 5 minutes drive from lafayette square and the area there (42nd and Kessler) is quite nice. As I mentioned before, Speedway is a good area and maintains a pretty good community feel.

For the original poster I would strongly recommend making a visit, driving around the city, and finding areas you like. Indianapolis IS a big city and even people who've lived here their entire lives (like me) don't know all the neighborhoods. I am sure there are many I'm not aware of that would be suitable for you. I've mentioned speedway because I'm familiar with it (and the west side!).

Good luck!

[akjason]

Originally Posted by nursema

Since you mentioned some safety and security issues, I would not choose the west side personally.

You didn't mean the east side, by any chance? I haven't come upon anything in my research to make me believe the west side isn't that safe. Granted, like any area, the closer to downtown the more shady things are.

Originally Posted by Stretchad

The town of speedway has some weird borders I believe...so I could see some sellers listing their homes as being in Speedway ...

I knew Speedway is its own city and all, but I'll have to keep an eye out for the borders, thanks!

Originally Posted by Stretchad

Our friends make a lot of loot renting out their front yard as parking for the race every year! Hopefully you realize that at least twice a year you'll be battling race traffic (cars AND people) if you live in this area.

I plan to be part of that traffic! I went to the F1 race a few years ago, so I'm somewhat familiar with the area and how bad it gets. I remember commenting at the time "I wish I had a yard around here so I could make some easy money!" My job (if I get it...) will have me at one of these races, so that's why I'm looking in that area.


In my further research I've narrowed my focus to the triangle between Speedway, Clermont, and the airport. Not set in stone or anything, but I think that area will satisfy most of my list. MikiJayne has already offered to show me around the area when I come up (hopefully next week), thanks MikiJayne!

Thanks for the replies everyone, keep them coming!

[MikiJayne]

No problem! I look forward to meeting you!

[Stretchad]

Originally Posted by akjason

I plan to be part of that traffic! I went to the F1 race a few years ago, so I'm somewhat familiar with the area and how bad it gets. I remember commenting at the time "I wish I had a yard around here so I could make some easy money!" My job (if I get it...) will have me at one of these races, so that's why I'm looking in that area.

The F1 race is nothin'!
Wait for the brickyard. Now THAT'S an interesting group of people. Indy 500 has its share of oddballs too. Haha. I'll miss the hype of race day when I move away in May.

Clermont might have some options for you too, but sometimes I think it's hard to get in and out of there from the city. It obviously has the IRP..errr...O'Reilly Raceway park. My house is not too far from there (info on my house in my profile!), near the intersection of 56th and Raceway and I can hear the drag racers during those races. When I go to Avon I usually drive south on the road that goes right by the IRP. It's odd, because on the east side of IRP are houses (main part of clermont I think), and on the west side of IRP, there's a big field for parking and campers. And just south of there, there are horses and cows. It's so Indiana.

And, Clermont has a drive in theater, which I thought was SO cool in the summer long ago. My grandma lived just off of 136 and High School Road in Eagle Valley Condos. I spent most of my summers as a kid with my grandma, and so did my cousins. We ended up in Clermont a lot at that drive in theater. I'm not sure if it's still operating though. Clermont is nicely wedged next to Brownsburg and north of Avon. If you want newer houses, some of the Brownsburg & avon neighborhoods might work.

Not sure what line of work you're in but the Brownsburg area has some race-related office spaces on northfield drive. I think they might be race team headquarters or offices?? I take Northfield drive from 56th street to 136 in order to get to the Marsh in Brownsburg. My favorite grocery store in BBurg.