Indiana Fix and Flip Market Overview for 2025
The Indiana fix and flip market stands out in 2025 as one of the top profitability zones in the Midwest. According to ATTOM Data Solutions, Indiana’s average gross flipping ROI hit 61.7% in Q1 2025, driven by affordable entry prices and steady buyer demand. The median home sale price statewide hovers around $242,000 (Indianapolis MLS, April 2025), marking a 4.3% annual increase. Inventory remains moderately tight with about 2.2 months’ supply, particularly in metro areas like Indianapolis (46201, 46203), Fort Wayne (46805), and South Bend (46615).
- Indiana Fix and Flip Market Overview for 2025
- Fix & Flip Strategy Deep Dive: Indiana 2025
- Property Type Analysis
- Local Indiana Market Intelligence
- Financing Landscape: Indiana Hard Money & More
- Step-by-Step Fix & Flip Process in Indiana (2025)
- Indiana Fix and Flip Success Example: Real Numbers for 2025
- Common Pitfalls & Expert Tips
- Start Your Next Fix & Flip in Indiana—Now
- Median Indiana Home Price (2025): $242,000
- Median Days on Market: 29 days (statewide average, Q2 2025)
- Typical Rehab Construction Costs: $35-65/sq ft (full cosmetic flip), $90-120/sq ft (full gut)
Material pricing is up 8% over 2024 due to supply chain adjustments. - National Average Flip ROI: 55.2% (compared to Indiana’s 61.7%)
Key Market Insight: Indiana’s stable economy, landlord-friendly laws, and lower-than-national average purchase prices make it a perennial favorite for investors seeking consistent margins in 2025.
Fix & Flip Strategy Deep Dive: Indiana 2025
Step-by-Step Overview
- Source below-market distressed properties (target 60-75% of ARV all-in, including rehab).
- Conduct thorough property/market analysis: Confirm ARV using at least three nearby comps sold within the last 90 days.
- Build an accurate budget ($38,000–$65,000 per flip on average for Indy SFRs), include 10-15% contingency.
- Obtain hard money/pre-approval and close quickly (average hard money rates in Indiana are 9.75%-12.5% with 2-3 points, 6-12 month terms).
- Renovation phase (45-75 days for cosmetics, 90-120 days for full gut projects).
- Pre-list marketing, staging, and MLS listing.
- Sell and close (Indiana average: 20-35 days from listing to sold).
Profit and Cost Examples
- Typical SFR Purchase Price: $110,000–$170,000
- Average ARV: $210,000–$290,000 (Indianapolis, Fort Wayne, Evansville)
- Renovation Costs: $38,000–$65,000 (including permits, labor, and 10% contingency)
- Closing/Carrying Costs: $12,000–$18,000 (includes interest, insurance, utilities, taxes, agent commissions)
- Expected Net Profit Per Flip: $31,000–$58,000 (after all costs & commissions), 25–32% net ROI
Property Type Analysis
Single-Family Homes
- Best Neighborhoods (Indianapolis): Bates-Hendricks (46225), Fountain Square (46203), Irvington (46219), and Garfield Park (46205).
- Price Points: Buy under $160,000, ARV $225,000–$290,000.
- Condition Criteria: Dated interiors, original kitchens/baths, minor to moderate foundation/electrical updates preferred for speed/profit.
Condos & Townhomes
- Emerging Markets: Downtown Indianapolis (Mass Ave, 46204), Carmel (46032), and Noblesville (46060).
- Typical Purchase Price: $140,000–$210,000
- Market Consideration: Lower maintenance costs, but smaller pool of buyers—especially in winter.
Small Multi-Family (Duplex, Triplex)
- Hot Neighborhoods: Near Eastside (46201), Bean Creek (46203), North Highlands (Fort Wayne, 46808).
- Typical Duplex Price: $155,000–$220,000, ARV $270,000–$325,000 (after both units are updated).
- Key Strategy: Keep renovation costs per door under $45K for optimal ROI.
Local Indiana Market Intelligence
- ZIP Codes to Target:
- 46201 (Indy Near Eastside): Rapid gentrification, buy under $130K, ARV $195K–$235K
- 46203 (Fountain Square/Bean Creek): Buy under $175K, ARV $265K–$305K
- 46805 (Fort Wayne Northside): Buy $95K–$140K, ARV up to $215K
- 46615 (South Bend River Park): Buy under $100K, ARV $165K–$195K
- 46032 (Carmel): Buy $180K–$240K, ARV $320K–$370K
- 47714 (Evansville): Buy under $85K, ARV $145K–$185K
- 46142 (Greenwood): Buy $190K–$240K, ARV $320K+
- Contractor Costs: General contractor labor averages $38–$55/hr; electrician $75–$110/hr; plumber $65–$105/hr. Expect higher in Carmel or Zionsville.
- Permits: Required for structural, electrical, plumbing, and roof. Expect $1,400–$2,200+ total in Indianapolis for a full cosmetic rehab. (Apply via city’s DBNS.)
- Market Development: Watch Windsor Park and Riverside for ongoing revitalization activity and new buyers entering the market.
Financing Landscape: Indiana Hard Money & More
- Top Indiana Hard Money Lenders (2025):
- RCN Capital (9.99–11%, up to 90% LTC, 70% ARV, 12-mo terms)
- Lima One Capital (10–12%, 2–2.5 points, up to 90% LTC/70% ARV)
- Do Hard Money (100% rehab financed, up to 70% ARV total, 12-month)
- Kiavi (formerly LendingHome) (10–11.5%, 1.5–2.5 points, fast close)
- Indianapolis Private Capital (local, 9.5–10.75%, 2 points)
- Loan-to-Cost (LTC): 85–90% purchase, 100% rehab common with collateral/strong experience.
- Alternative: Private lenders via Indiana Real Estate Investors Association (IREIA) or local networking groups. Rates typically 9–11% with more flexible terms.
- Minimum Requirements: 620+ credit, proof of funds for down payment/closing, scope of work, and experience letter recommended for best terms.
Step-by-Step Fix & Flip Process in Indiana (2025)
- Define investment criteria and secure proof of funds/hard money preapproval.
- Source on/off-market properties (MLS, wholesalers, auctions, REO/bank properties).
- Run comps (sold within 0.3 mi, last 3-6 months, similar size/bed/bath).
- Perform detailed due diligence: Foundation, roof, HVAC, major mechanicals check (consider professional inspection, ~$350–$500).
- Submit offer and negotiate price/terms (target 70% of ARV minus repairs rule).
- Finalize financing, close via local title company (Indiana title/escrow costs average 1% of purchase price).
- Pull all necessary permits for work from city or county.
- Hire and schedule contractors, set weekly check-ins (use detailed scope/SOW, 10-15% retainer only).
- Order materials early (kitchens/baths 2-4 week lead time in 2025 due to supply chain).
- Conduct renovations, monitor budget/schedule closely. Inspect at each project milestone.
- Stage, photograph, and list property on MLS. Market across Zillow, Realtor.com, local social media.
- Negotiate sale, vet buyer funding, coordinate closing, and track days on market for future improvements.
Due Diligence Checklist
- ARV verified via recent local comps
- Full inspection on structure, roof, plumbing, electrical & mechanicals
- City/county permit requirements checked
- Logistics on material delivery (appliances, cabinets, major fixtures)
- Estimate marketing and closing timelines upfront
Indiana Fix and Flip Success Example: Real Numbers for 2025
- Market: 46203 (Fountain Square, Indianapolis)
- Purchase Price: $143,000
- Renovation Budget: $54,000 ($40/sq ft x 1,350 sq ft + 10% contingency)
- Total All-In Cost (incl. closing, holding): $207,500
- ARV (After-Repair Value): $290,000 (based on 3 recent comp sales)
- Sale Price Achieved: $296,500 (sold 21 days on market)
- Gross Margin: $89,000
- Total Costs (incl. agent commissions): $38,880 (closing/holding: $11,200; agent: $17,800; staging/marketing: $4,800; misc.: $5,080)
- Net Profit: $50,120 (~24.2% ROI in 97 days total from acquisition to closing)
Market Timing: Off-season flips (Oct-Jan) typically take 2-3 weeks longer to sell, but material/labor is available at a premium and labor scheduling is easier.
Need capital? GHC Funding offers flexible funding solutions to support your business growth or real estate projects. Discover fast, reliable financing options today!
⚡ Key Flexible Funding Options:
GHC Funding everages financing types that prioritize asset value and cash flow over lengthy financial history checks:
DSCR Rental Loan
- No tax returns required
- Qualify using rental income (DSCR-based)
- Fast closings ~3–4 weeks
SBA 7(a) Loan
- Lower down payments vs banks
- Long amortization improves cash flow
- Good if your business occupies 51%+
Bridge Loan
- Close quickly — move on opportunities
- Flexible underwriting
- Great for value-add or transitional assets
SBA 504 Loan
- Low fixed rates through CDC portion
- Great for construction, expansion, fixed assets
- Often lower down payment than bank loans
🌐 Learn More
For details on GHC Funding's specific products and to start an application, please visit our homepage:
Common Pitfalls & Expert Tips
- Underestimating plumbing/electrical: Always get a licensed inspection before purchase.
- Over-improving for the block: Match finishes to recent sales—avoid luxury upgrades in blue-collar areas.
- Permit delays: Submit applications early; check for historic overlays in key Indy neighborhoods (may affect timelines and costs).
- Contractor management: Weekly progress check-ins, milestone payments only.
- Exit plan: Always work with multiple exit strategies (resale/rent/refi) in case the market shifts.
Start Your Next Fix & Flip in Indiana—Now
With gross margins well above national averages, consistent end-buyer demand, and affordable entry points, Indiana remains a powerhouse fix and flip state heading into 2025. Focus on the neighborhoods and strategies outlined in this guide, immediately connect with local lenders, and start lining up contractor resources—the best deals in 2025 are moving fast.
Bookmark this Indiana fix and flip guide, share it with your partners, and use it as your master playbook for every upcoming project.
Get a No Obligation Quote Today.
Use these trusted resources to grow and manage your small business—then connect with GHC Funding
to explore financing options tailored to your needs.
GHC Funding helps entrepreneurs secure working capital, equipment financing, real estate loans,
and more—start your funding conversation today.
Helpful Small Business Resources
