What area would you buy in Indy if office downtown? (for sale, real estate)

[Grvlguy]

OK, I am 55years young, white, Single, and straight! Can spend up to or just over $500K for a home. If not downtown I would prefer a pool. Kids are grown and out but, still want a home that will have resale value. Very high energy and active. Want to find an area I can meet people and enjoy life! Past General Contractor but don't want to rebuild another home. Have done dozens. Where should I look to be close to downtown? Thanks for your time!!

[sweetana3]

With that budget and no kids, I would be looking at 3 mass or the Stenz Building. Great location, highly desireable, loads of people to meet. Walk downtown and along Mass Ave. Large enough to have a wide variety of owners.

[Grvlguy]

Thanks! Been there done that with the Condo thing. Always been a bad investment for me. Never want to own another so will have to look at a single family home.

[krsheely]

dont know any exact areas but you shouldnt have much problem finding a single family home. Lets start by narrowing down and defining what your looking for. because you are looking downtown I am assuming you;d want something or an older home with more charm? No vinal villages/suburbs? How large of a home, are you looking for charm or size?

[Grvlguy]

Charm, unique, over size any day! at least three bedrooms, currently have 2100 sq ft but can be flexible with that. Usually have at least one collector car so a two car garage is needed.

[Toxic Toast]

Lockerbie, St. Joseph, Mass Ave, that general north and north east quadrant of downotwn has a lot of single family homes that are expensive. Honestly, I have never priced them. I would imagine some of them approach 500K. Fletcher Place in the southeast quad of downtown has some very nice, very expensive single family homes as well. I forget the name of the street, but one block north of Fletcher and east of East Street has some very nice homes, a couple are for sale. I walk my dog through there all the time. Very friendly area. I have met a few of the other dog owners through there.

[sweetana3]

Check out 1020 N. Alabama. Was the home of interior designer Deb Smith who works all over the world. Unbelievable renovation with soaring views and a rooftop deck. Not a condo but a self standing townhouse. Wine vault, wonderful rec room, high finish and less than your budget. Plus it has been on the market a long time and needs a good negotiator. Imagine the parties you could have in this space.

FLOCK REAL ESTATE GROUP

[sweetana3]

Toxic, some of them are well over 1 million now. There is one in Chatham Arch that is listed for 1.45 million.

[Toxic Toast]

Originally Posted by sweetana3

Toxic, some of them are well over 1 million now. There is one in Chatham Arch that is listed for 1.45 million.

I knew there was a reason I never priced those

[chalcedony]

You might look at a fixer-upper in the Old Northside or Herron Morton. Old Northside is no longer rough at all and would probably be tough to find a home for sale under $500K. Herron Morton is much rougher (but getting better all the time) and is possible to find homes at that price; it is far enough away that it would be hard to call downtown, but it would probably only take a half hour to walk there from homes in Herron Morton. Old Northside only has a few fixer-uppers left, while Herron Morton has lots. Either place you will get get a good return on your investment.

Lockerbie Square is great but the costs per square foot are likely to be super-high--probably over $200. And most of the homes are fairly small.

Fletcher Place is good, as Toxic Toast Says, and even Fountain Square might be good, though will probably require renovations on your part. Woodruff Place is a bit further (about the same distance to the east as Herron Morton is to the north) and the neighborhoods east of Woodruff are still very rough, but it's a solid area with beautiful homes that I suspect are still well under $500K because of the crime closer by.