Housing Prices in Indy (Indianapolis, Carmel: for sale, real estate, apartments)

[PhillyIndy]

From a few other posts I am getting a sense of cost/sqft in Indy.

For example, someone said "West Clay" is about $200 a sg foot. West Clay is not for me but it is a start.

Questions:
1) For Merdian Kessler, Butler Tarkington, Broadripple, what would you say is the average price per square foot? Is $200 a sq foot high or low? Put another way, at $200 a sqft, should i expect a "solid" house, one that needs cosmetic work, or a completely "redone house" with higher end finishes.

I know location is key, but I am seeing 2,000 sq/ft 3 bed 3 baths in MK without a new kitchen and needing carpets pulled up and hardwoods refinished asking $450,000; or redone Butler-T ones with zero yard for $400,000 and the houses are 2 blocks away from each other. Are both over priced, neither?

2) Do people actually count the basement in these calculations? Finished basements are nice, but are not consider "real living space" here in Philly. If you count the basement both of these homes would be 3,000 sqft which changes things.

3) Is there any area of MK, BT, or broadripple you would describe as "up and coming"? We would be comfortable living on the edge of a transitional area, assuming itis getting better. There does not appear to anyof this going on right now, but thought I would ask.
Thanks for the help...

[domergurl]

What you will usually see, especially on Mibor is square foot above grade and total square footage separated out.

[PhillyIndy]

So is it the above grade I should count, and is $200 a sqft fair, low, high?

[billman5000]

i think 200/sf could be about right for prime property in meridian kessler.

4531 n meridian shows as 5000 sf and listed for 700k. probably includes the basement, it can go either way, some realtors pad the sf with unliveable areas. should use above grade only.

4605 n meridian listed for 987 and is 5465 sf.

the area just south of there (33rd and penn) has been 'up and coming' but i would not walk thru there.

around there it can vary quite a bit in value just within a few blocks. if you know someone who lives there they can steer you around best.

i have no connection to this site but Indianapolis homes condos apartments houses for sale Indianapolis Indiana Carmel Indiana homes Greenwood Homes has the best local search engine

[amasters]

Well, the Meridian/Kessler area is in Washington Township. The average cost per square foot for Indianapolis real estate in the Washington township area over the past 15 months has been around $70.

[Southside Shrek]

Originally Posted by PhillyIndy

Questions:
1) For Merdian Kessler, Butler Tarkington, Broadripple, what would you say is the average price per square foot? Is $200 a sq foot high or low? Put another way, at $200 a sqft, should i expect a "solid" house, one that needs cosmetic work, or a completely "redone house" with higher end finishes.

I know location is key, but I am seeing 2,000 sq/ft 3 bed 3 baths in MK without a new kitchen and needing carpets pulled up and hardwoods refinished asking $450,000; or redone Butler-T ones with zero yard for $400,000 and the houses are 2 blocks away from each other. Are both over priced, neither?

...

I would say you should expect a fully updated house from top to bottom with higher end finishes at $200 sq ft.

[sweetana3]

Remember Meridian Street is the prime viewable large lot classic historic region street. It will always command a premium just for being Meridian Street. One block in either direction and the price will be reduced.

As you have found it is difficult to compare with the little info given on the mibor and other online sources and only seeing asking prices. Use a real estate professional to get the actual sales figures (often a big big difference) and how long it took to get to that price. Otherwise you are working with only part of the picture.

Also, in those neighborhoods the street address matters. There are several high end blocks with really classy homes on large lots. Two blocks over still in the same neighborhood and there are lower end workers houses some updated and some not much. You have to walk or drive the neighborhood.

I remember when you could buy Meridian Street houses for $75,000 and we thought that was high end. Now that same house was over 1 million. A lot has changed.

[Southside Shrek]

The 4400 block of North Meridian does indeed have some classic houses. However one needs to peel off the wrapper to see what is inside.