1 Cromwell DrMorristownNJ07960
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Morristown at 1 Cromwell Dr, Morristown, NJ, 07960 offers $5,621/mo rent that, after a $9,275/mo payment. Total monthly income is $5,621/mo. Return on cash invested measures 4.96% in year one, and rental yield stands at 3.56% at a $1,895,000 entry. Equity gained on principal adds $12,228/yr while 5% annual appreciation compounds into $523,554 by year five. Five-year ROI records 23.82% and total cumulative return in cash reaches $146,237. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $5,621/mo property income versus a $9,275/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1968
0.57 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07960, Morristown, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,695 (100%) |
| Owner Occupied HU | 11,261 (57.2%) |
| Renter Occupied HU | 7,396 (37.6%) |
| Vacant Housing Units | 1,038 ( 5.3%) |
| Median Home Value | $753,823 |
| Average Home Value | $846,672 |
Housing Distribution
Address Breakdown
Residential
18,584
Single Family
16,093
Multi-Family
2,491
Businesses
1,783
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Listed by: Danielle L Bennett • Keller Williams Realty
Mls Name: GSMLS
Mls ID: #4005953