406 Polk St · Newburgh, IN 47630

$150,000

3 bd · 1.0 ba · 1,271 sqft · SingleFamily public records · 1 Days on market

Built 1956 4,792 sqft lot Est $212k · 29% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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

Listing remarks

Completely remodeled 3-bedroom, 1-bath home located in the heart of downtown Newburgh! This move-in ready home features a brand-new roof, new flooring throughout, fresh paint, new kitchen countertops, new microwave, and new dishwasher. The bathroom has been fully renovated with a new tub, vanity, and toilet, giving the home a clean and modern feel. Enjoy relaxing or entertaining on the wood deck, and take advantage of the convenient location close to restaurants, shopping, and all the charm downtown Newburgh has to offer!

Key facts

• Fresh paint
• New flooring
• New roof

Tags

• REMODELED HOME
• NEW ROOF
• NEW FLOORING
• FRESH PAINT
• NEW KITCHEN COUNTERTOPS
• NEW MICROWAVE

Property features AI

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 1 story
• Construction: Brick and vinyl siding; Built as site-built home
• Exterior features: Deck; Partial wood fencing; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Central air conditioning; Ceiling fan cooling
• Interior features: Ceiling fans; Eat-in kitchen; Crawl space basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.4% 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; 9 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 $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $150,000

Questions for the listing agent

1. Built in 1956 — 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: 1.29% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.55%
• DSCR: 1.65
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $212,257
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
626 Monroe St	0.21mi	3/2.0	1,292 (+2%)	0mo	$159,000	$123	84
211 Posey St	0.09mi	3/2.0	1,265 (-0%)	10mo	$235,000	$186	83
126 Posey St	0.09mi	3/2.0	1,285 (+1%)	19mo	$77,500	$60	74
413 W Main St	0.19mi	2/1.5 (-1)	1,350 (+6%)	2mo	$225,000	$167	72
324 Locust St	0.30mi	3/1.0	1,363 (+7%)	8mo	$224,900	$165	67
110 E Gray St	0.26mi	3/2.0	1,440 (+13%)	0mo	$269,000	$187	62
610 State St	0.21mi	3/2.0	1,404 (+10%)	18mo	$275,000	$196	54
301 Yorkshire Dr	0.45mi	3/2.0	1,193 (-6%)	14mo	$225,000	$189	53
514 Middle St	0.20mi	3/2.0	1,457 (+15%)	15mo	$135,000	$93	50
612 Prince Dr	0.47mi	3/1.5	1,153 (-9%)	14mo	$214,500	$186	49
419 Section St	0.42mi	2/1.0 (-1)	1,080 (-15%)	20mo	$140,000	$130	34
5666 Maple Ln	0.67mi	2/1.0 (-1)	1,081 (-15%)	22mo	$145,000	$134	21

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: 10.5%
• Equity multiple: 1.44×
• Total profit: $18,390
• Equity at exit: $22,365

10-year hold

• IRR: 23.3%
• Equity multiple: 3.49×
• Total profit: $104,468
• Equity at exit: $12,969

Cash invested: $42,000 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,938 high
• Mortgage (P&I): −$787
• Tax from tax record: −$172 /mo · $2,067/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $509

Break-even live

Break-even rent $1,293

Max offer price $150,000

Occupancy floor 69%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 W Jennings St Newburgh, IN	3.0	1.5	1508	$2,575	$1.71	44d	1	0.20mi
5700 Kenwood Cir Newburgh, IN	1.0–2.0	1.0	858	$910	$1.06	13d	2	0.77mi
5200 E Timberwood Dr Newburgh, IN	4.0	3.0	1643	$2,200	$1.34	13d	1	1.25mi
9895 Cove Point Ct Newburgh, IN	3.0	2.0	1307	$1,950	$1.49	21d	1	1.27mi
5879 Riverwalk Cir Newburgh, IN	3.0	2.0	1128	$1,600	$1.42	21d	1	1.32mi
8001 Alexandra Ln Newburgh, IN	3.0	1.5	1528	$1,395	$0.91	21d	1	1.36mi
7300 Brentwood Dr Newburgh, IN	2.0	1.0	890	$865	$0.97	13d	1	1.47mi
8584 Lincoln Ave Newburgh, IN	3.0	2.0	1330	$1,549	$1.16	44d	1	1.49mi
8582 Lincoln Ave Newburgh, IN	2.0	2.0	1068	$1,344	$1.26	44d	1	1.49mi

Listing history 2 events

1. 2026-05-28
   status Pending
2. 2026-05-27
   listed $150,000 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: $2,067 · $172/mo
• Projected year-2 tax: $2,067 · $172/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,251
• − Mortgage interest: −$8,402
• − Property taxes: −$2,067
• − Insurance: −$750
• − Repairs & maintenance: −$1,860
• − Management: −$1,860
• − Depreciation: −$4,364
• Taxable income: $3,947
• Est. tax owed @ 24.0%: −$947
• After-tax cash flow: $5,164/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

2 events — show timeline

• 2026-05-28 Pending — IRMLS
• 2026-05-27 Listed $150,000 IRMLS

Property tax history

+6.1%/yr

Latest (2024): $2,067 · +4.7% YoY. Source: county tax records.