7344 Oakpark Dr · Newburgh, IN 47630

$229,900

3 bd · 2.0 ba · 1,870 sqft · SingleFamily public records · 5 Days on market

Built 1977 10,019 sqft lot Est $264k · 13% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.8/30.0
• ARV discount +13.3/15.0
• DSCR +4.9/10.0
• Schools +4.9/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks with this spacious, well-built 4-bed, 2-bath bi-level home featuring over 1,840 sq ft of versatile living space! Nestled in a desirable, established neighborhood, this property is competitively priced to account for cosmetic updates, allowing you to invest directly in your own preferred finishes and build equity. This home has wooden 6 panel doors, crown molding in the living room/dining room area. A pre-inspected home report is ready for review, and major structural elements are already taken care of—including a roof and gutter guards, approx. 7 years ago, a newer water heater, and a newer central air unit. The home has a water softener as well. The interior floor

Key facts

• Bi-level home
• Floored attic system
• Roof replaced

Tags

• BI-LEVEL HOME
• PRE-INSPECTED HOME REPORT
• ROOF REPLACED
• OVERSIZED ATTACHED GARAGE
• FLOORED ATTIC SYSTEM
• PRIVATE OUTDOOR OASIS

Property features AI

Finance

• Other: Zoning: R-1 One Family Dwelling

Exterior

• Parking: Attached garage (1.5 spaces)
• Utilities: Public water; Public sewer; Cable available and connected
• Home design: Single-family site-built home; Residential property; Located in the Twin Oaks subdivision; Facing direction: not specified
• Construction: Aluminum siding, brick, and vinyl siding exterior; Block foundation; Shingle roof; Above-grade finished area: 920; Below-grade finished area: 920
• Exterior features: Deck; Chain-link fencing; Sloped lot

Interior

• Kitchen: Laminate counters
• Bedrooms: Total rooms: 8
• Bathrooms: 2 full bathrooms; 1 main level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Laminate countertops; Wood-burning fireplace in family room (basement)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (19.3% below list).
• Recommended offer: $186k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.9% in Newburgh — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#21 in IN, #1,922 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sharon Elementary School (math 65% / reading 62%, grade B, #95 of 994 statewide, top 10%, 686 students, 45% FRL); Castle South Middle School (math 43% / reading 57%, grade C, #48 of 330 statewide, top 15%, 712 students, 34% FRL); Castle High School (math 56% / reading 80%, grade B, #22 of 369 statewide, top 6%, 1,961 students, 26% FRL).
• Market conditions: Rents rising fast (+8.7%/yr); 383 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,617 (19.3% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $263,670
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7455 Oakpark Dr	0.10mi	3/2.0	1,820 (-3%)	0mo	$282,500	$155	91
5422 Park Dr	0.52mi	3/2.0	1,794 (-4%)	2mo	$253,600	$141	67
7017 Barlow Ct	0.69mi	3/2.0	1,877 (+0%)	1mo	$349,800	$186	66
6697 Concord Dr	0.69mi	4/2.0 (+1)	1,856 (-1%)	1mo	$242,000	$130	60
6986 Ironwood Cir	0.65mi	3/2.0	1,956 (+5%)	3mo	$396,900	$203	60
7833 Marywood Dr	0.58mi	3/2.0	1,702 (-9%)	3mo	$231,000	$136	56
7711 Woodland Dr	0.64mi	3/2.0	2,035 (+9%)	1mo	$287,500	$141	54
6699 Heritage Dr	0.65mi	4/2.0 (+1)	1,972 (+6%)	2mo	$210,000	$106	54
7877 Camp Brosend Rd	0.51mi	3/2.0	1,629 (-13%)	3mo	$259,900	$160	52
6644 Concord Dr	0.74mi	4/2.0 (+1)	1,984 (+6%)	3mo	$230,000	$116	48
4799 Elizabeth Ln	0.65mi	4/2.0 (+1)	1,656 (-11%)	1mo	$230,000	$139	45
5497 E Sherwood Dr	0.73mi	4/2.0 (+1)	2,115 (+13%)	1mo	$305,000	$144	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.68×
• Total profit: $-20,762
• Equity at exit: $34,279

10-year hold

• IRR: 6.1%
• Equity multiple: 1.54×
• Total profit: $34,860
• Equity at exit: $19,878

Cash invested: $64,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47630

• Rents YoY: 8.7%
• Active inventory: 383
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$58 /mo · $699/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $107

Break-even live

Break-even rent $1,721

Max offer price $229,900

Occupancy floor 89%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5033 IN-66 Newburgh, IN	3.0	2.5	1487	$2,100	$1.41	21d	1	0.27mi
5200 E Timberwood Dr Newburgh, IN	4.0	3.0	1643	$2,200	$1.34	13d	1	0.42mi
6888 Lexington Dr Newburgh, IN	3.0	2.0	1500	$1,450	$0.97	43d	1	0.47mi
5041 E Sherwood Dr Newburgh, IN	3.0	2.5	2077	$2,350	$1.13	13d	1	0.53mi
8001 Alexandra Ln Newburgh, IN	3.0	1.5	1528	$1,395	$0.91	21d	1	0.66mi
114 Olde Newburgh Dr Newburgh, IN	3.0	2.5	1526	$1,500	$0.98	21d	1	0.94mi
107 Olde Newburgh Dr Newburgh, IN	2.0	2.5	1380	$1,375	$1.00	43d	1	0.96mi
4911 Shenandoah Ave Newburgh, IN	3.0	2.0	1274	$1,695	$1.33	21d	1	1.16mi
4333 Bell Rd Newburgh, IN	2.0–3.0	2.0	1170	$1,549	$1.32	13d	3	1.33mi
8584 Lincoln Ave Newburgh, IN	3.0	2.0	1330	$1,549	$1.16	43d	1	1.33mi

Listing history 6 events

1. 2026-06-18
   days on market $229,900 Active 5 DOM
2. 2026-06-17
   days on market $229,900 Active 4 DOM
3. 2026-06-16
   days on market $229,900 Active 3 DOM
4. 2026-06-15
   days on market $229,900 Active 2 DOM
5. 2026-06-14
   remarks 693-char remark
6. 2026-06-14
   listed $229,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $699 · $58/mo
• Projected year-2 tax: $1,327 · $111/mo
• Expected delta: +$627/yr (+$52/mo · 89.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,274
• − Mortgage interest: −$12,878
• − Property taxes: −$699
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − Depreciation: −$6,688
• Taxable loss: −$2,704
• Est. tax savings @ 24.0%: +$649
• After-tax cash flow: $1,929/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Newburgh

• Score: 80/100
• State rank: #21
• US rank: #1922

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C+ Housing A+ Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Warrick County · 39,818 people
• City population: 39,818
• Metro: Evansville, IN-KY
• Population (ZIP): 39,818
• Household income: $94,162
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 770.0

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 3% Hispanic / Latino 3% Asian 3%
• Common ancestry: Italian 3% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.44%
• Current HPI: 185.7643
• Rent YoY: ▲ 8.69%
• Metro: Evansville, IN-KY
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

1 event — show timeline

• 2026-06-13 Listed $229,900 IRMLS

Property tax history

+5.7%/yr

Latest (2024): $699 · +2.0% YoY. Source: county tax records.