We’re proud to announce the addition of a charming 2-bedroom, 1-bath bungalow in the historic Irvington neighborhood to our growing Indianapolis portfolio. This off-market acquisition was secured with an existing long-term tenant in place, and we view this project as an opportunity to strengthen our tenant-first housing model while delivering strong, stable returns.

Our philosophy at Steele Ventures centers around crafting homes that promote stability, community, and long-term livability. This acquisition exemplifies that mission. The tenant has expressed a desire to stay long-term, allowing us to reduce vacancy risk and take a phased approach to renovation—one that improves the home over time without disruption.

Project Overview

• Property Type: Single-family residential

• Acquisition Method: Off-market purchase with inherited tenant

• Strategy: Buy, hold, and phased value-add improvement

• Location: Irvington – Indianapolis, IN

Investment Highlights

• Acquisition Price: $105,000

• Initial Renovation Budget (Phase 1): $0.00

• Projected Full Renovation Budget (Phased): $20,000

• Current Monthly Rent: $1,200

• Market Rent (Post-Renovation): $1,400

• Projected ARV: $135,000

• LTV (Loan-to-Value): 75%

• Stabilized CoC Return (Pro Forma): X.X%

• Vacancy Risk: Low (tenant retained at closing)

Why This Matters for Lenders

This project underscores Steele Ventures’ ability to:

• Identify underutilized assets with built-in income and long-term upside

• Build relationships with inherited tenants and improve retention

• Phase capital expenditures responsibly while improving asset quality

• Operate with low turnover and stable cash flow from day one

The spacious lot, garage, and prime location in Irvington offer additional long-term appreciation potential and future value-add flexibility—making this a strong contributor to our portfolio’s equity and income growth.

Conclusion: Long-Term Stability Meets Strategic Growth

This bungalow is more than a property—it’s a relationship. A chance to prove that quality housing and investor returns can go hand in hand. At Steele Ventures, we’re not just improving homes—we’re honoring the people who live in them and creating value with care.

As we continue to scale our Indianapolis real estate portfolio, we seek lending partners aligned with our vision of community investment, disciplined growth, and tenant-first operations.