706 Village Ln · Newburgh, IN 47630

$350,000

8 bd · 4.0 ba · 3,312 sqft · MultiFamily public records · 2 Days on market

Built 1971 0.27 ac lot Est $374k · 6% under

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Why this score? — see what drove the B 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 +27.7/30.0
• ARV discount +10.4/15.0
• DSCR +9.7/10.0
• 1% rule +7.4/10.0
• Schools +4.9/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Great investment opportunity in downtown Newburgh! Close to schools, shopping, restaurants, and the river trail. This well-maintained 4-unit property offers four 2 bed/1 bath units with strong rental appeal. All kitchens and bathrooms have been updated. Roof is only 1 year old, and attic insulation was replaced within the last year. Unit 6 has all new windows; Unit 7 has two new windows. Tenants pay CenterPoint; owner covers water, sewer, and trash.

Key facts

• Downtown newburgh
• Close to schools
• Close to restaurants

Tags

• INVESTMENT OPPORTUNITY
• DOWNTOWN NEWBURGH
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS
• CLOSE TO RIVER TRAIL

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $264/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 9.9% 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: Newburgh Elementary School (math 70% / reading 63%, grade B+, #65 of 994 statewide, top 7%, 629 students, 32% 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; solid renter incomes; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).
• At $4,334/mo this rent would consume 55% of the median local household income ($94k/yr) (locally 770% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $98k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $350,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.91%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $374,256
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
706 Village Ln	0.00mi	8/4.0	3,312 (0%)	0mo	$375,000	$113	100
718 Village Ln	0.03mi	8/4.0	3,312 (0%)	10mo	$365,000	$110	91

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: 8.2%
• Equity multiple: 1.34×
• Total profit: $33,365
• Equity at exit: $52,186

10-year hold

• IRR: 21.3%
• Equity multiple: 3.24×
• Total profit: $219,896
• Equity at exit: $30,262

Cash invested: $98,000 (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: 26.9×

Monthly cashflow live

• Estimated rent: $4,334 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$388 /mo · $4,661/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$910
• Net cashflow: $1,054

Break-even live

Break-even rent $3,000

Max offer price $350,000

Occupancy floor 71%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,336
Total (4 units)			$4,334

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-25
   status Pending
2. 2026-04-23
   listed $350,000 Active
3. 2024-12-12
   historical $850
4. 2024-12-05
   listed $850
5. 2024-05-22
   status Pending
6. 2024-05-20
   listed $289,900 Active

ⓘ 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: $4,661 · $388/mo
• Projected year-2 tax: $4,661 · $388/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥107°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: $52,008
• − Mortgage interest: −$19,605
• − Property taxes: −$4,661
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,161
• − Management: −$4,161
• − Depreciation: −$10,182
• Taxable income: $7,488
• Est. tax owed @ 24.0%: −$1,797
• After-tax cash flow: $10,853/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

• Census place: Newburgh, IN
• 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

+20.7% since first listed

6 events — show timeline

• 2026-04-25 Pending — IRMLS
• 2026-04-23 Listed $350,000 IRMLS
• 2024-12-12 Rental Removed $850 IRMLS
• 2024-12-05 Listed for Rent $850 IRMLS
• 2024-05-22 Pending — IRMLS
• 2024-05-20 Listed $289,900 IRMLS

Property tax history

+8.5%/yr

Latest (2024): $4,661 · +84.1% YoY. Source: county tax records.