Haughville is Marion County’s highest-yield-on-cost corridor — West Washington Street, Harding Street, and Ladoga Avenue blocks where pre-war double stock trades at $78K–$108K as-is and gross caps can exceed 9% when sponsors budget heavy mechanical rehab and honest vacancy.
Hard money loans in Haughville fund Near Westside BRRRR: acquisition of distressed doubles with deferred maintenance, full-system rehab scopes, and exit to DSCR loans Indianapolis when rent roll clears ratio at 70%–72% LTV.
Haughville geography
Haughville sits west of downtown Indianapolis — bounded by I-70, West Street, and Lafayette Road. The Near Westside corridor differs from Bates-Hendricks and Fountain Square:
- Lowest Marion County basis on double stock — $78K–$108K as-is
- Heaviest rehab scope — $48K–$68K mechanical typical
- Highest block variance — street-by-street diligence non-negotiable
- Eskenazi Hospital and IUPUI employment adjacency — LTR tenant pool
Renters include hospital staff, warehouse workers along Washington Street, and families priced below Near Eastside walkability premiums.
2026 price and rehab bands
| Asset | As-is buy | Rehab | Stabilized ARV |
|---|---|---|---|
| Side-by-side double | $78K–$102K | $48K–$62K | $168K–$198K |
| Up-down double | $82K–$108K | $52K–$68K | $172K–$205K |
| Small MF (3–4 unit) | $95K–$128K | $55K–$75K | $195K–$235K |
Cross-comp Fountain Square or Irvington sales onto Harding Street blocks and appraisers will cut ARV $20K–$30K.
Hard money structure for Haughville
- 8.99%–13.5% interest-only · up to 90% LTC · 7–10 business day close
- Draws tied to inspection milestones — heavy mechanical before cosmetic
- Exit: DSCR Indianapolis at 5.75%–10.5% — plan 70%–72% LTV on tight files
Draw schedule: Harding Street double rehab
| Draw | Milestone | Release | Scope |
|---|---|---|---|
| Draw 1 | Close + 14 days | 20% | Demo, permits, structural assessment |
| Draw 2 | Electrical + plumbing rough | 30% | Knob-and-tube, galvanized replacement |
| Draw 3 | HVAC + roof (if needed) | 30% | Full systems both sides |
| Draw 4 | Finish | 20% | Kitchens, baths, flooring |
A $58,000 rehab on Haughville doubles funds across 100–130 days — model $1,900–$2,400/mo IO on $148K all-in loan.
Worked example: West Washington double BRRRR
Property: Side-by-side on West Washington Street, built 1928, both sides vacant, knob-and-tube, shared boiler.
Acquisition: $86,000.
Rehab: $58,000 — separate HVAC, panels, kitchens/baths, exterior, boiler removal.
Hard money: 87% LTC → $125,280 funded; sponsor cash ~$18,720 + reserves.
Stabilize: $1,175/side ($2,350 gross) — 12-month leases.
Appraisal: $182,000.
DSCR refi at 71% LTV → DSCR ~1.14 — tight but viable on lowest Marion County basis.
NOI math: Vacancy 10%, taxes $265/mo, insurance $165/mo, maintenance $165/mo, PM 8% → NOI ~$1,320/mo vs. debt service ~$1,158/mo at 7.0% on $129K loan.
Worked example: Ladoga Ave — flip vs. hold
Acquisition: $92,000 double — one side tenant at $825/mo. Rehab: $52,000 full mechanical + cosmetic. Flip sale: $175,000 — 8% costs, $9,200 carry → net ~$8,800 spread. Hold alternative: $2,300 gross rent, $178K appraisal → DSCR at 70% LTV extracts ~$22K equity — BRRRR wins.
Haughville vs. Martindale-Brightwood
| Factor | Haughville | Martindale-Brightwood |
|---|---|---|
| As-is basis | $78K–$108K | $88K–$125K |
| Rehab scope | Heavier | Moderate |
| Rent/side | $1,050–$1,275 | $1,150–$1,350 |
| Vacancy model | 9%–10% | 8%–9% |
| Gross cap | 8%–10% | 7%–9% |
| DSCR @ 75% LTV | 1.10–1.18 | 1.15–1.22 |
Haughville rewards highest yield-on-cost; Martindale-Brightwood offers slightly easier DSCR clearance.
Block diligence — non-negotiable
Qualified blocks show:
- Recorded investor or owner-occ sale within 12 months on same block
- No active code enforcement liens
- Comps within 0.5 miles in Haughville — not Bates-Hendricks
- Visible block maintenance — absentee landlord concentration increases vacancy
Avoid: blocks with zero sales in 24 months, industrial adjacency without environmental review, listings with uncurable title defects.
Diligence on Haughville stock
- Galvanized plumbing — full replacement on 50%+ of inventory
- Knob-and-tube — budget $14K–$18K electrical per double
- Foundation — engineer mandatory on pre-1935 stock
- Lead paint — abatement on occupied-side rehab sequencing
- Insurance — $1,600–$2,000/yr on $180K dwelling
- Vacancy — 9%–10% realistic on transitional blocks
When Haughville beats Fountain Square
- Sponsor wants lowest Marion County basis per dollar of rehab
- Highest gross cap tolerance with heavier block diligence
- Experienced BRRRR operator comfortable with 1.12–1.15 DSCR at lower LTV
When you want walkability premium and $1,400+/side rents — Fountain Square spoke.
Haughville BRRRR sequencing
Lowest-basis Marion County doubles require block-first, mechanical-second execution:
- Qualify the block — recorded sale within 12 months, no active code liens, comps within 0.5 miles in Haughville only.
- Acquire at $78K–$108K on Indianapolis hard money — 90% LTC, 7–10 day close.
- Heavy rehab $52K–$68K — galvanized plumbing, knob-and-tube, foundation engineer on pre-1935 stock.
- Stabilize at $1,050–$1,275/side with 9%–10% vacancy modeled honestly.
- DSCR exit at 70%–72% LTV — ratio 1.10–1.18 typical; do not understate opex to force 75% LTV.
Hard money carry at 10.75% IO for 7 months on $145K funded runs ~$9,100 — highest yield-on-cost in Marion County rewards sponsors who survive the diligence and rehab timeline.
Pre-close diligence checklist
- Engineer letter mandatory on pre-1935 foundation when cracks or uneven floors disclosed
- Lead paint abatement plan on occupied-side rehab sequencing
- Insurance at $1,600–$2,000/yr on $180K projected value
- DSCR calculator at 70% LTV before offer — Haughville fails refi when vacancy modeled at 5%
FAQ
First-time sponsor on Haughville?
Possible with experienced GC partner and conservative vacancy — not ideal first Marion County deal.
Three-flat or four-flat in Haughville?
Select small MF inventory exists — confirm property type and DSCR product fit at pre-qual.
Pivot from flip to hold mid-project?
Notify lender before final draws — bridge Indianapolis if lease-up replaces resale.
See Indianapolis metro, Martindale-Brightwood spoke, and Indianapolis BRRRR guide.
Haughville — west-side basis file gates (2026)
Haughville files fail when Fountain Square ARV prices $86K–$92K acquisition doubles, or when tenant-in-place acquisitions skip turnover timeline in carry. Highest Marion County yield bands — highest management intensity.
- Basis: $86K–$92K double acquisitions — $40K–$58K rehab typical
- Rent: $825–$950/side pre-rehab — stabilize before DSCR file
- Panel: Shared service upgrades in draw one — not refi surprise
- Operator: Experienced sponsors with PM capacity — not first-time cosmetic flips
Bridge 8.99%–13.5% IO · Indy rankings · (833) 264-7776.
Underwriting anchor: Acquisition: $86,000. — knob-and-tube, shared boiler on Haughville Indianapolis before IO term.
Pre-Qualify for Haughville Hard Money · Indianapolis metro · (833) 264-7776