The best way to truly answer your question is to enlist the help of an REALTOR to give you the necessary comparables to perform your due diligence. With proper assistance and guidance, you'll be able to make the best, educated decision.
You'll need to consider many different factors. 1. Are you looking to buy and flip immediately? If so, you'll want to take strong consideration in a CMA to gauge your potential return. 2. Are you looking to purchase, make necessary repairs and/or renovations, fill vacancies and then sell? [If you have the time to address any vacancies, this will assist you in making more of a return on your investment as well as offering potential buyers a lower risk, especially if your multi family/unit homes are 100% occupied. If you plan to go with #2,' you'll need to not only obtain a CMA for market value - as well as review the area rental rates, vacancies, average days on market and look into how you plan to lease out any vacant units.
Back to my initial statement, the best way to proceed with your possible endeavor is to hire a REALTOR to help you make the most educated decision.
I hope this helps.
Century 21 Diversified
I have sold homes in Little Flower and think it is a great neighborhood. The sellers I have represented have only sold because they were moving out of Indianapolis or in several cases the families just outgrew the homes. Every single seller loved the neighborhood and hated to move out. The historic area of Irvington is also full or craftsman style homes and is very close to there. Also as Ryan & Heinz have pointed out Emerson Heights and Holy Cross are 2 other neighborhoods to check out that offer the craftsman style homes.
I also sell in Fishers and the neighborhoods are entirely different. There is an older section of Fishers that is very charming affording the ability to walk to restaurants and go to their free outdoor concerts. While I agree Fishers has many newer cookie-cutter homes it does offer the older homes as a wonderful alternative.
There are some great buys in all of those areas right now!
If you are not already working with an agent I would be happy to show you some of the areas so you
can make the right decision for your family.... more
I have sold several properties in Irvington and would be happy to work with you. Check out www.HomeRebates4HomeBuyers.com or contact KenFisher@Realtor.com for information regarding our rebate program.... more