4 Elder Dr, Morristown, NJ, 07960 | $87/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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4 Elder Dr, Morristown, NJ, 07960 | $87/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Morristown at 4 Elder Dr, Morristown, NJ, 07960 generates $5,069/mo in rent and, after a $3,421/mo payment, leaves $87/mo in cash flow. Total monthly income is $5,069/mo, and annual cash flow is $1,043/yr on $229,971 invested. Return on cash invested sits at 20.51% in year one, and rental yield is 8.7% on a $699,000 entry. Equity gained on principal adds $4,511/yr, while 5% annual appreciation builds toward $193,121 over five years. Five-year ROI reaches 107.28% and total cumulative return in cash sums $246,722. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,069/mo property income rather than buyer’s personal income.

Single Family

Built in 1955

8,712 sqft lot

$N/A/sqft

No HOA

More details about the property

Welcome to 4 Elder Drive, a beautifully updated 3-bedroom, 2-bath home in the heart of Morris Township, offering modern comfort, thoughtful design, and over $220k in recent upgrades. Enter inside to find hardwood floors throughout, an open-concept layout with removed walls for a seamless flow, and a stylish kitchen with new countertops, tile flooring, and stainless-steel appliances. The inviting living area features a new fireplace insert and chimney liners and opens to a resurfaced deck with upgraded railings perfect for relaxing or entertaining. Upstairs, you'll find two spacious bedrooms and a full bathroom, offering comfortable, light-filled spaces and ample storage. The finished basement adds even more flexibility with room for a home office, gym, and recreation area, along with additional storage. Modern systems include a mini-split A/C, new electrical panel, hot-water boiler, and French drain with sump pump for peace of mind. Ideally located just minutes from Downtown Morristown's vibrant restaurants, shops, and train station, and offering easy access to Routes 202, 24, 287, and 80, this home combines timeless charm with thoughtful updates move right in and enjoy the best of Morris Township living!

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