22 Franklin Place #4AMorristownNJ07960
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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 22 Franklin Place #4A, Morristown, NJ, 07960 priced at $774,900 converts $4,549/mo rent into after a $3,793/mo obligation. Total monthly income equals $4,549/mo. Return on cash invested prints 12.99% in year one, and rental yield reads 7.04% against a $774,900 entry. Equity gained on principal adds $5,000/yr, while 5% annual appreciation compiles into $214,091 by year five. Five-year ROI reaches 67.86% and total cumulative return in cash sums $173,015. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,549/mo property income covering a $3,793/mo payment, not borrower’s personal income.
Condo
Built in 1986
1.12 Acres lot
$N/A/sqft
$527 monthly 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: Ryan T Destler • ProLegacy Realty, LLC
Mls Name: MoreMLS
Mls Provider:
Mls ID: #22602173
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.