116 Pitney Pl #116MorristownNJ07960
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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 116 Pitney Pl #116, Morristown, NJ, 07960 generates $2,660/mo in rent and, after a $1,610/mo payment, leaves $315/mo in cash flow. Total monthly income is $2,660/mo, and annual cash flow is $3,783/yr on $109,064 invested. Return on cash invested sits at 23.38% in year one, and rental yield is 9.7% on a $329,000 entry. Equity gained on principal adds $2,123/yr, while 5% annual appreciation builds toward $90,897 over five years. Five-year ROI reaches 122.69% and total cumulative return in cash sums $133,809. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,660/mo property income rather than buyer’s personal income.
Condo
Built in 1963
3,920 sqft 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: Barbara Edwards • Weichert Realtors
Mls Name: GSMLS
Mls ID: #3993820