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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Investment property for sale in Morristown at 28 Independence Way, Morristown, NJ, 07960 listed at $695,000 pairs $4,823/mo rent with a $3,402/mo payment. Total monthly income runs $4,823/mo. Return on cash invested measures 17.27% in year one, and rental yield registers 8.33% at a $695,000 basis. Equity gained on principal adds $4,485/yr, and annual property appreciation at 5% supports $192,016 by year five. Five-year ROI tracks 90.67% and total cumulative return in cash totals $207,330. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $4,823/mo property income relative to a $3,402/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Townhouse
Built in 1981
3,049 sqft lot
$N/A/sqft
$400 monthly HOA
Neighborhood data shown for ZIP Code: 07960, Morristown, NJ area.
| 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 |
Residential
18,584
Single Family
16,093
Multi-Family
2,491
Businesses
1,783
Date | Event | Price |
|---|---|---|
| 2024-10-19 | Listed for sale | $695,000 |
| 2023-06-23 | Sold | $620,000 |
| 2023-05-16 | Pending sale | $618,950 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-11-12 | $8994.43 | 2.66% | $448,600 | N/A |
| 2022-11-12 | $8761.16 | 2.14% | $448,600 | N/A |
| 2021-11-12 | $8577.23 | 4.31% | $448,600 | N/A |
Listed by: Diane Tolley • Coldwell Banker Realty
Mls Name: GSMLS
Mls Provider:
Mls ID: #3930275
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 2024 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.
