Monday, November 24, 2008

What a deal

Posted By on Mon, Nov 24, 2008 at 4:00 AM


You left out the best-priced neighborhood in the downtown area (Neighborhood Guide, March 21-28).

Currently, high house prices kill all options for regular income people. If a young person works in retail they cannot afford pricy downtown digs.

The Bates-Hendricks Neighborhood has about 1,000 homes just south of Corp Lilly. Mostly 1890 Victorians and Arts & Crafts homes.

Prices start at about $10,000 not $100,000 for a true historic cottage just like what is found in the Lockerbie neighborhood.

Prices are low because rental investors have kept prices that way.

Once smart people figure how close Bates-Hendricks is to downtown, the prices will quickly change.

Do a story about the area. It is ready for update.

It also would be a great area for retired seniors who do not wish to mow grass or pay taxes on that big house in the right school system.

Most $10,000 houses would require renovation — dah!

With a complete renovation the house would still be priced at less than $100,000. Find that somewhere else downtown!!

It even has a little business district like Broad Ripple that is ready for investors to renovate.

Coffee shops and other neat retail places could be placed in these old storefronts that have been attached to 1890 Victorian homes.

A retailer could buy his business/house, build the business and sell it in the future, taking the capital gain tax-free because the business is in the home — what a deal.

Jay Allen



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