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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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No similar rental properties found nearby.
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Morris Plains at 142 Summerhill Dr, Morris Plains, NJ, 07950 priced at $699,900 converts $0/mo rent into after a $3,426/mo obligation. Total monthly income equals $0/mo. Return on cash invested prints -6.64% in year one, and rental yield reads 0% against a $699,900 entry. Equity gained on principal adds $4,516/yr, while 5% annual appreciation compiles into $193,369 by year five. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $0/mo property income covering a $3,426/mo payment, not borrower’s personal income.
Townhouse
Built in 2002
2,178 sqft lot
$N/A/sqft
$135 monthly HOA
Neighborhood data shown for ZIP Code: 07950, Morris Plains, NJ area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,711 (100%) |
| Owner Occupied HU | 6,123 (70.3%) |
| Renter Occupied HU | 2,342 (26.9%) |
| Vacant Housing Units | 246 ( 2.8%) |
| Median Home Value | $634,438 |
| Average Home Value | $657,576 |
Residential
8,505
Single Family
7,757
Multi-Family
748
Businesses
511
Date | Event | Price |
|---|---|---|
| 2025-07-12 | Listed for sale | $699,900 |
| 2025-07-03 | Listing removed | N/A |
| 2025-05-19 | Listed for sale | $699,999 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-07-14 | $12186.79 | 1.94% | $350,800 | N/A |
| 2023-07-14 | $11955.27 | 4.44% | $350,800 | N/A |
| 2022-07-14 | $11446.60 | 2.90% | $350,800 | N/A |
No similar rental properties found nearby.
Listed by: Sarath Mangam • Century 21 Elite Realty
Mls Name: GSMLS
Mls Provider:
Mls ID: #3974860
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.
