Investment Highlights

  • 26 units were renovated in 2020 with new 2 tone paint, flooring, crown molding, light fixtures, ceiling fans, plugs, switches, smoke detectors, and handles.
  • Newburgh Court offers an investor a turnkey, 2008 vintage property with minimal deferred maintenance. The property underwent a renovation in 2020 including unit upgrades, exterior deck repair/replace/paint, exterior LED lighting, state-of-the-art sub-meter and leak detection system, and parking lot resurfaces and restriped.
  • New ownership has the opportunity to take advantage of organic NOI growth through loss-to-lease burnoff. Three pre-leased units are scheduled to rent for $969, which is $84 per unit more than in-place leases.
  • Newburgh Court offers investors a day 1 cash flow opportunity based on consistent historical performance, ability to increase rents, and an attractive basis.
  • Residents of Newburgh Court are zoned for Sharon Elementary, Castle South Middle, and Castle High, all rated 8/10 or better according to
  • Newburgh Court is located in a zip code that has impressive median income, education levels, and home values.
  • Newburgh Court is ideally positioned within 15 minutes of Evansville’s premier shopping centers.

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