Indianapolis is one of the country's busiest single-family rental markets, with local landlords and large national operators competing for the same three-bedroom ranch homes. For an investor with five, ten or twenty houses spread across Marion County and the donut counties, one blanket loan can replace a drawer full of separate notes.
In short: LendingStreet's blanket portfolio loans combine five or more Indianapolis-area investment properties, each 1 to 8 units, into one loan with one closing and one payment. The loan qualifies on the portfolio's combined rent, with LLC borrowers standard and no W-2s or tax returns. Release provisions let you sell one property without refinancing the rest, and properties in other states can be included on some programs.
Marion County is divided into nine townships, and Indianapolis investors often describe their portfolios that way, because township lines shape school districts, tax rates and tenant demand. Warren and Lawrence townships on the east and northeast sides have large stocks of 1950s to 1970s ranch homes. Wayne Township on the west side and Perry and Franklin townships on the south side are also common with investors.
Just outside the county, Beech Grove, Speedway, Greenwood, Avon, Plainfield and Brownsburg offer newer homes and suburban schools at higher prices. Many portfolios mix a few inner-city homes with suburban ones.
That mix is one reason blankets are popular here. Older east and west side homes often produce more rent relative to value, while suburban homes appreciate more and turn over less. Combining them balances the portfolio's cash flow and its long-term value.
A blanket loan adds the rent from every property and compares it with the full monthly payment: principal and interest on the single loan plus every property's taxes, insurance and any HOA dues. In Indianapolis, the 2% tax cap makes the tax line fairly predictable, and the ratio depends mostly on rent, value and leverage.
The standard minimum is 1.0x. Strong houses carry weaker ones, which helps portfolios with a few older homes or vacancies. A home between tenants still counts at its lease or market rent on most programs, so one turnover does not sink the file.
This example is illustrative and not a quote. An investor owns eight single-family rentals worth about $1,600,000 combined, renting for $12,200 a month. A blanket refinance at 70% of value produces a loan of $1,120,000.
Estimated principal and interest is about $7,793. Taxes across all eight homes are budgeted at about $2,533 a month, close to the 2% cap, and insurance at $880, for a total of about $11,206. Portfolio DSCR is about 1.09x.
At 65% of value, the loan would be $1,040,000 and DSCR about 1.15x. In Indianapolis, the full 2% tax bill takes a real share of rent, so leverage is the main lever.
| Property area | Estimated value | Monthly rent |
|---|---|---|
| Warren Township | $205,000 | $1,550 |
| Lawrence | $185,000 | $1,450 |
| Wayne Township | $170,000 | $1,350 |
| Franklin Township | $225,000 | $1,650 |
| Perry Township | $195,000 | $1,500 |
| Beech Grove | $180,000 | $1,400 |
| Greenwood | $230,000 | $1,700 |
| Avon | $210,000 | $1,600 |
| Total | $1,600,000 | $12,200 |
Indiana's constitutional tax caps limit residential rental property to 2% of gross assessed value per year, compared with 1% for an owner-occupied homestead. Indiana reassesses annually based on market trends, so as values rise, taxes on rentals often rise toward the cap. Use each property's current bill from the county auditor or treasurer, not a figure from a seller who had the homestead deduction.
Indiana has no real estate transfer tax, though a sales disclosure form is filed when property changes hands. Assessed values are posted each spring, and owners can appeal through the county assessor if a value looks too high, which can help the portfolio ratio at the next refinance.
Indianapolis operates a rental registry for residential rental property in Marion County, and the city can inspect properties in response to complaints. Keep each property's registration current. Underwriting may ask, and unresolved code violations can complicate a refinance. Suburban cities have their own requirements.
Release provisions let you sell one property and pay down the blanket loan without refinancing the others. The release terms, including how much of the sale proceeds goes to the loan, are set when the loan closes. Indianapolis investors often sell older homes on the near east or west side once values rise and buy newer homes in the suburbs; plan those sales with the remaining portfolio's ratio in mind. Our blanket loan release clause guide covers the details.
Indianapolis portfolios often include homes built in the 1920s through 1960s. Insurers look at roofs, electrical panels, plumbing and foundations. One landlord policy scheduling all properties keeps renewals in sync. Check flood zones for homes near Fall Creek, Pleasant Run, Pogue's Run and the White River.
Central Indiana also sees spring wind and hail storms. Homes with roofs near the end of their life can raise premiums or limit coverage, so a roof replacement plan across the portfolio is worth having before a refinance.
Many Indianapolis homes clear our $150,000 minimum on their own, so individual DSCR loans are an option, especially if you plan to sell several homes soon. A blanket wins when you want one payment and maturity, when weaker homes need stronger ones to carry them, or when you want to pull equity across the portfolio. Cash-out goes up to 75% LTV, with seasoning that varies by program. See our comparison of blanket and individual DSCR loans, and our multi-state portfolio page if you own outside Indiana.
Send it through the form below or call (877) 298-1001.
Five or more investment properties, each with 1 to 8 units.
Yes. Properties across the metro can be combined, and other states can be included on some programs.
Rentals are capped at 2% of assessed value, versus 1% for homesteads. Budget near the cap for each rental.
Keeping registrations current and code issues resolved helps avoid delays.
Yes. Release provisions let you sell a property and pay down the loan without refinancing the rest.
On combined rent compared with the full payment, including taxes and insurance. The standard minimum DSCR is 1.0x.
Yes, up to 75% LTV if the portfolio still clears the minimum. Seasoning varies by program.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.