4122 Hedgewood Ct · Newburgh, IN 47630

$249,900

3 bd · 2.0 ba · 1,311 sqft · SingleFamily public records · 17 Days on market

Built 1995 7,405 sqft lot Est $236k · 6% over

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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 +10.9/30.0
• Schools +4.9/10.0
• ARV discount +4.8/15.0
• Rent growth +4.7/5.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

In the popular Rabbit Run Subdivision, this 3 bedroom home located on a cul de sac street has many features. A convenient location close to all schools, hospitals, retail, and restaurants. The all brick exterior of the home features a new roof , double decks with hot tub included and storage barn. The covered front entryway into the foyer with views of great room with high ceilings, wood laminate flooring and a spacious open floor plan is just what you are looking for. The spacious kitchen with loads of cabinets, pantry, and newer appliances features a bonus desk area and more cabinets. All kitchen appliances included with sale. The back patio/deck is accesible from the kitchen dining area. Two bedrooms and full bath in the hallway, plus the master suite with second full bathroom. Garage features a utility sink. Buyers 12 month Home Warranty included.

Key facts

• Remodeled bathroom
• Vaulted ceiling
• Walk-in closet

Tags

• VAULTED CEILING
• LVP FLOORING
• ABUNDANCE OF CABINET SPACE
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• REMODELED BATHROOM

Property features AI

Finance

• Other: Subdivision: Rabbit Run; Directions available

Exterior

• Parking: Attached garage with garage door opener; Two garage spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One-story
• Construction: Brick construction; Home warranty included
• Exterior features: Deck; Privacy wood fencing; Level lot; Barn on property; Shingle roof

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Electric range
• Bedrooms: Primary bedroom located on the main level
• Flooring: Tile; Vinyl
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Heat pump and electric heating; Central air conditioning
• Interior features: Vaulted ceilings; Entrance foyer; Eat-in kitchen; Laminate counters; Primary bedroom on main level; Sump pump and crawl space in basement
• Laundry & utility: Washer hookup on main level; Electric dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (28.2% below list).
• Recommended offer: $179k (28.2% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: John H Castle Elementary School (math 73% / reading 60%, grade B+, #65 of 994 statewide, top 7%, 998 students, 20% FRL); Castle North Middle School (math 57% / reading 59%, grade B, #18 of 330 statewide, top 5%, 770 students, 22% FRL); Castle High School (math 56% / reading 80%, grade B, #22 of 369 statewide, top 6%, 1,961 students, 26% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: Rents rising fast (+8.7%/yr); 383 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 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

• It's been on market 17 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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.
• Current owner paid $140k; list at $250k implies a 78% gain — meaningful room to come down on a strong offer.

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 $179,365 (28.2% 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: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $235,980
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9722 Rabbit Run Dr	0.13mi	3/2.0	1,368 (+4%)	6mo	$248,000	$181	82
9522 Rabbit Run	0.13mi	3/2.0	1,359 (+4%)	10mo	$245,000	$180	80
4244 Country Ridge Dr	0.11mi	3/2.0	1,309 (-0%)	19mo	$222,500	$170	79
4000 Hedgewood Ct	0.08mi	3/2.0	1,404 (+7%)	14mo	$247,000	$176	72
4022 Hare Ct	0.09mi	3/2.0	1,192 (-9%)	17mo	$228,000	$191	67
4144 Trinity Dr	0.11mi	3/2.0	1,194 (-9%)	22mo	$234,900	$197	61
10395 W State Road 66 Rd	0.67mi	2/2.0 (-1)	1,332 (+2%)	4mo	$100,000	$75	58
4011 Trinity Dr	0.16mi	3/2.0	1,463 (+12%)	21mo	$248,000	$170	56

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: -14.6%
• Equity multiple: 0.46×
• Total profit: $-38,101
• Equity at exit: $37,261

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $575
• Equity at exit: $21,607

Cash invested: $69,972 (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: 11.6×

Monthly cashflow live

• Estimated rent: $1,794 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$112 /mo · $1,345/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $-110

Break-even live

Break-even rent $1,933

Max offer price $230,514

Occupancy floor —

Sensitivity live

Price	-10% $32	-5% $-39	+0% $-110	+5% $-180	+10% $-251
Rent	-10% $-251	-5% $-181	+0% $-110	+5% $-39	+10% $32
Rate	-1.0pp $16	-0.5pp $-46	base $-110	+0.5pp $-174	+1.0pp $-240

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9899 Warrick Trl Newburgh, IN	1.0–3.0	1.0–2.0	1115	$1,855	$1.66	14d	23	0.47mi
8584 Lincoln Ave Newburgh, IN	3.0	2.0	1330	$1,549	$1.16	44d	1	1.03mi
8582 Lincoln Ave Newburgh, IN	2.0	2.0	1068	$1,344	$1.26	44d	1	1.03mi
4333 Bell Rd Newburgh, IN	2.0–3.0	2.0	1170	$1,549	$1.32	14d	3	1.05mi
3955 Clover Dr Newburgh, IN	3.0	2.0	1800	$1,985	$1.10	44d	1	1.15mi
10686 Fall Creek Dr Newburgh, IN	3.0	2.0	1436	$1,950	$1.36	14d	1	1.25mi
4799 Imperial Dr Newburgh, IN	3.0	2.0	1370	$1,975	$1.44	44d	1	1.33mi
4920 Penrose Dr Newburgh, IN	3.0	2.0	1250	$1,900	$1.52	44d	1	1.41mi

Listing history 14 events

1. 2026-06-18
   status $249,900 Pending 17 DOM
2. 2026-06-17
   days on market $249,900 Active 17 DOM
3. 2026-06-16
   days on market $249,900 Active 16 DOM
4. 2026-06-15
   days on market $249,900 Active 15 DOM
5. 2026-06-14
   days on market $249,900 Active 13 DOM
6. 2026-06-13
   days on market $249,900 Active 12 DOM
7. 2026-06-10
   days on market $249,900 Active 10 DOM
8. 2026-06-09
   days on market $249,900 Active 9 DOM
9. 2026-06-08
   days on market $249,900 Active 8 DOM
10. 2026-06-07
    statusdays on market $249,900 Active 7 DOM
11. 2026-05-22
    listed $249,900 Active
12. 2017-05-02
    soldstatus $140,000 863-char remark

    Show marketing remark (863 chars)

    In the popular Rabbit Run Subdivision, this 3 bedroom home located on a cul de sac street has many features. A convenient location close to all schools, hospitals, retail, and restaurants. The all brick exterior of the home features a new roof , double decks with hot tub included and storage barn. The covered front entryway into the foyer with views of great room with high ceilings, wood laminate flooring and a spacious open floor plan is just what you are looking for. The spacious kitchen with loads of cabinets, pantry, and newer appliances features a bonus desk area and more cabinets. All kitchen appliances included with sale. The back patio/deck is accesible from the kitchen dining area. Two bedrooms and full bath in the hallway, plus the master suite with second full bathroom. Garage features a utility sink. Buyers 12 month Home Warranty included.

13. 2017-03-10
    listed $145,900 863-char remark

    Show marketing remark (863 chars)

    In the popular Rabbit Run Subdivision, this 3 bedroom home located on a cul de sac street has many features. A convenient location close to all schools, hospitals, retail, and restaurants. The all brick exterior of the home features a new roof , double decks with hot tub included and storage barn. The covered front entryway into the foyer with views of great room with high ceilings, wood laminate flooring and a spacious open floor plan is just what you are looking for. The spacious kitchen with loads of cabinets, pantry, and newer appliances features a bonus desk area and more cabinets. All kitchen appliances included with sale. The back patio/deck is accesible from the kitchen dining area. Two bedrooms and full bath in the hallway, plus the master suite with second full bathroom. Garage features a utility sink. Buyers 12 month Home Warranty included.

14. 2016-08-08
    listed $137,900

ⓘ 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: $1,345 · $112/mo
• Projected year-2 tax: $1,735 · $145/mo
• Expected delta: +$389/yr (+$32/mo · 29.0%)

ⓘ 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 4% 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: $21,524
• − Mortgage interest: −$13,998
• − Property taxes: −$1,345
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,722
• − Management: −$1,722
• − Depreciation: −$7,270
• Taxable loss: −$5,783
• Est. tax savings @ 24.0%: +$1,388
• After-tax cash flow: $71/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

+81.2% since first listed

4 events — show timeline

• 2026-05-22 Listed $249,900 IRMLS
• 2017-05-02 Sold (MLS) $140,000 IRMLS
• 2017-03-10 Listed $145,900 IRMLS
• 2016-08-08 Listed $137,900 IRMLS

Property tax history

+6.6%/yr

Latest (2024): $1,345 · +0.6% YoY. Source: county tax records.