5497 E Sherwood Dr · Newburgh, IN 47630

$289,500

3 bd · 1.5 ba · 2,046 sqft · SingleFamily public records · 1 Days on market

Built 1981 0.32 ac lot Est $278k · at est.

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Why this score? — see what drove the D- 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 +10.7/30.0
• ARV discount +5.7/15.0
• Schools +4.9/10.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Don’t miss this meticulously maintained and well-cared-for spacious 4-bedroom, 2-bath home filled with character, quality, and thoughtful updates throughout the years. Inside, you’ll find custom built-ins including bookcases, cabinets, shelves, and drawers that add both charm and function. Spacious rooms throughout offer comfortable living, while the large eat-in kitchen features granite countertops, tile backsplash, and all appliances included. The inviting family room opens to the pergola and beautifully landscaped backyard. A stunning full wall of windows across the back of the home fills the interior with natural light and showcases the private outdoor setting. The generousl

Key facts

• Inviting family room
• Large eat-in kitchen
• Custom built-ins

Tags

• CUSTOM BUILT-INS
• LARGE EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• TILE BACKSPLASH
• INVITING FAMILY ROOM
• PERGOLA

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (28.5% below list).
• Recommended offer: $207k (28.5% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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); 395 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $9k 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 1 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 $207,000 (28.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.72% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $278,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7711 Woodland Dr	0.16mi	3/2.0	2,035 (-0%)	1mo	$287,500	$141	89
5497 E Sherwood Dr	0.00mi	4/2.0 (+1)	2,115 (+3%)	1mo	$305,000	$144	87
5610 Saint Catherine Ct	0.18mi	2/2.0 (-1)	1,936 (-5%)	2mo	$190,000	$98	74
5455 E Timberwood Dr	0.18mi	3/2.5	2,197 (+7%)	7mo	$277,500	$126	70
6888 Cottage Ln	0.58mi	3/2.0	2,001 (-2%)	1mo	$389,900	$195	66
5366 Jeffries Ln	0.39mi	3/2.0	1,950 (-5%)	7mo	$250,000	$128	66
806 Treelane Dr	0.43mi	3/2.0	1,926 (-6%)	5mo	$254,000	$132	64
5422 Park Dr	0.32mi	3/2.0	1,794 (-12%)	2mo	$253,600	$141	61
215 Hillcrest Dr	0.74mi	4/2.0 (+1)	2,052 (+0%)	5mo	$150,000	$73	54
7455 Oakpark Dr	0.64mi	3/2.0	1,820 (-11%)	1mo	$282,500	$155	49
5100 Jeffries Ln	0.53mi	4/2.0 (+1)	2,335 (+14%)	5mo	$295,000	$126	41
5944 Riceland Dr	0.60mi	4/3.0 (+1)	2,263 (+11%)	5mo	$307,000	$136	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: -14.8%
• Equity multiple: 0.45×
• Total profit: $-44,686
• Equity at exit: $43,165

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-648
• Equity at exit: $25,031

Cash invested: $81,060 (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: 395
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,070 high
• Mortgage (P&I): −$1,518
• Tax from tax record: −$132 /mo · $1,579/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-135

Break-even live

Break-even rent $2,241

Max offer price $265,637

Occupancy floor —

Sensitivity live

Price	-10% $29	-5% $-53	+0% $-135	+5% $-217	+10% $-299
Rent	-10% $-299	-5% $-217	+0% $-135	+5% $-53	+10% $28
Rate	-1.0pp $11	-0.5pp $-61	base $-135	+0.5pp $-210	+1.0pp $-286

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: $72,375
• Closing costs: $8,685
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5200 E Timberwood Dr Newburgh, IN	4.0	3.0	1643	$2,200	$1.34	15d	1	0.33mi
5041 E Sherwood Dr Newburgh, IN	3.0	2.5	2077	$2,350	$1.13	15d	1	0.44mi
8001 Alexandra Ln Newburgh, IN	3.0	1.5	1528	$1,395	$0.91	23d	1	0.72mi
5033 IN-66 Newburgh, IN	3.0	2.5	1487	$2,100	$1.41	23d	1	0.81mi
6888 Lexington Dr Newburgh, IN	3.0	2.0	1500	$1,450	$0.97	45d	1	1.13mi
402 W Jennings St Newburgh, IN	3.0	1.5	1508	$2,575	$1.71	45d	1	1.15mi
114 Olde Newburgh Dr Newburgh, IN	3.0	2.5	1526	$1,500	$0.98	23d	1	1.30mi
603 W Water St Newburgh, IN	3.0	2.0	2810	$3,700	$1.32	45d	1	1.32mi

Listing history 2 events

1. 2026-04-24
   status Pending
2. 2026-04-23
   listed $289,500 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: $1,579 · $132/mo
• Projected year-2 tax: $2,020 · $168/mo
• Expected delta: +$441/yr (+$37/mo · 27.9%)

ⓘ 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: $24,840
• − Mortgage interest: −$16,217
• − Property taxes: −$1,579
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − Depreciation: −$8,422
• Taxable loss: −$6,799
• Est. tax savings @ 24.0%: +$1,632
• After-tax cash flow: $11/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

2 events — show timeline

• 2026-04-24 Pending — IRMLS
• 2026-04-23 Listed $289,500 IRMLS

Property tax history

+5.2%/yr

Latest (2024): $1,579 · +3.4% YoY. Source: county tax records.