Duplex with Separate
For Sale
$395,000
1 Yorkshire Drive, Newburgh, IN 47630
Two connected residences offer distinct layouts, outdoor space, and prior furnished-rental use.
Property Size2,321 SF
Price / SF$170.19
Days on Market260
Property Features for 1 Yorkshire Drive
General Information
Standard status
Active
Size
2,321 SF
Property subtype
Multi Family / Other
Units
Unit Mix
2BR/2BA, 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,473
Amenities
sunroom
fenced-in backyard
carport
jetted tub
Central Air
1
No
Carpet, Wood
3
Conventional
2
Block
Cellar
Yes
Vinyl
Fenced Yard, Off Street Parking, Near Walking Trail, Built-In Bookcase, Ceilings-Vaulted, Deck Covered, Detector-Carbon Monoxide, Detector-Smoke, Firepit, Garden Tub
Building Details
Year Built
1940
Buildings
2
Units
2
Listing Agency:
ERA FIRST ADVANTAGE REALTY, INC
(812) 858-2400
Listed By:
Julie Abell · License #RB20001663
(812) 858-2400
Source:
Compass
Added: Dec 12, 2025
Changed: Aug 29
Last Checked: Aug 29 at 7:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA FIRST ADVANTAGE REALTY, INC
Investment Insights
Based on property information with market context.
This duplex comprises two connected homes totaling 2,321 SF, with separate utility meters and a shared carport. One residence includes 2 bedrooms, 2 full baths, a bright sunroom, and a fenced backyard. The second provides 2 bedrooms, 1 bath with a jetted tub, and an open-concept living area. Central air serves the property, while vinyl siding, covered deck space, off-street parking, and a cellar add to the physical features. The structure dates to 1940.
Located in downtown Newburgh, the property has river views and is a short distance from the waterfront, restaurants, shops, and local attractions. A nearby walking trail and outdoor features, including a firepit, provide additional context for the setting. Both residences have previously operated as Airbnb and Furnished Finder rentals.
Located in downtown Newburgh, the property has river views and is a short distance from the waterfront, restaurants, shops, and local attractions. A nearby walking trail and outdoor features, including a firepit, provide additional context for the setting. Both residences have previously operated as Airbnb and Furnished Finder rentals.
Key Highlights
- Two connected residences with separate utility meters and a shared carport
- 2,321 SF duplex built in 1940
- One home offers 2 bedrooms, 2 full baths, a sunroom, and fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,858
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$237,160
$237.2K
Cap Rate 7%
$169,400
$169.4K
Cap Rate 9%
$131,756
$131.8K
Market Conditions
NOI Build-Up for 2,321 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.8K $9.84/SF
− Vacancy
−$1.3K −$0.55/SF
EGI
$21.6K $9.29/SF
− OpEx
−$9.7K −$4.18/SF
NOI
$11.9K $5.11/SF
Area
Warrick County, IN
Vacancy
5.60%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$237,160
Cap Rate 7%
$169,400
Cap Rate 9%
$131,756
Alternative Uses
Best Use
Apartment 5plus
$169.4K
$148.2K – $197.6K
NOI $11,858 @ 7.0% cap · market cap 3.00%
Second Best
Multifamily LT 5
$159.2K
$139.3K – $185.8K
NOI $11,146 @ 7.0% cap · market cap 2.82%
Theoretical Best
Specialty Retail
$459.2K
$401.8K – $535.8K
NOI $32,146 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Explore this area
Business Placement
Demographics for 47630, IN
38,309
Population
15,620
Households
2.5
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
47.0 sq mi
ZIP Area
815
Density / Sq Mi
$101,462
Median Household Income
$53,105
Median Earnings
$1,108
Median Rent
$255,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two connected residences offer distinct layouts, outdoor space, and prior furnished-rental use.
Where is this duplex located?
The property is located at 1 Yorkshire Drive Newburgh, IN.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two connected residences with separate utility meters and a shared carport; 2,321 SF duplex built in 1940; One home offers 2 bedrooms, 2 full baths, a sunroom, and fenced backyard
