116 Western AveMorristownNJ07960
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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 Western Ave, Morristown, NJ, 07960 generates $2,760/mo in rent, after a $2,251/mo payment. Total monthly income is $2,760/mo. Return on cash invested sits at 15.83% in year one, and rental yield is 7.2% on a $460,000 entry. Equity gained on principal adds $2,968/yr, while 5% annual appreciation builds toward $127,090 over five years. Five-year ROI reaches 82.2% and total cumulative return in cash sums $125,353. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,760/mo property income rather than buyer’s personal income.
Single Family
Built in 1887
4,791 sqft lot
$N/A/sqft
No HOA
More details about the property
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
Price History
Date | Event | Price |
|---|---|---|
| 2025-03-13 | Listed for sale | $460,000 |
| 2020-11-10 | Sold | $212,500 |
| 2013-06-28 | Sold | $255,000 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-03-13 | $6681.33 | 30.42% | $255,500 | N/A |
| 2023-03-13 | $5122.78 | 2.66% | $255,500 | N/A |
| 2022-03-13 | $4989.92 | 2.14% | $255,500 | N/A |
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Facts & Features
General Information
- Type: SingleFamily
- Year Built: 1887
- Architectural Style: Colonial
- Building Area: N/A
- Living Area: N/A
- Property Condition: N/A
Features & Amenities
- Heating: 1 Unit, Radiators - Hot Water, Natural Gas
- Cooling: See Remarks, Window Unit(s)
- Flooring: Carpet, Laminate
- Interior Features: Sunroom, Utility Room
- Exterior Features: N/A
- Parking Features: On Street
Location
- City: Morristown
- State: NJ
- Subdivision: N/A
- Lot Size: 4,791 sqft
- Lot Features: N/A
- View: N/A
HOA & Fees
- HOA Fee: N/A
- Association Fee: N/A
- Fees & Dues: N/A
- Association Amenities: N/A
- Association Fee Includes: N/A
Utilities
- Utilities: Electricity Connected, Natural Gas Connected, Garbage Included
- Sewer: Public Sewer
- Water Source: Public
- Road Surface Type: N/A
School Information
- Elementary School: Sussexave
- Middle School: Frelghuysn
- High School: Mtwn 9-12
Listed by: Heather Schweizer • Howard Hanna Rand Realty
Mls Name: GSMLS
Mls Provider:
Mls ID: #3950287
Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.