Investment homes in cool school towns

Bloomington, Indiana

Address: 134 N. Bryan Ave.
Price: $199,500
Square feet: 2,060
Price per square foot: $97

Located on the eastern edge of the Indiana University campus, this home wins for the easiest walk. It's also the second-least-expensive home per square foot in our roundup. There are four bedrooms, two full bathrooms and one-half bath. Wood floors run throughout the home. The kitchen has standard appliances and solid-surface counter tops. But the biggest selling point is the deck with built-in tables and benches. For parking, there's a garage and space in the alley behind the house. Expect to pay around $830 for the mortgage; average rent for a four-bedroom home is $1,412.

Home of the Hoosiers, Bloomington was No. 16 on the American Institute for Economic Research's list of best college towns. We think that's partially due to Big Ten sports, the town's vibrant nightlife and food.

Rod Figg: The Figg Real Estate Team; 812-322-8888