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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 40 Park unit 511 UNIT 511, Morristown, NJ, 07960 earns from $3,816/mo rent with a $4,890/mo payment. Total monthly income totals $3,816/mo. ROI tracks 4.46% on current figures, and rental yield reads 4.58% at a $999,000 purchase. Equity gained on principal adds $6,446/yr, and 5% annual appreciation supports $276,005 over five years. Five-year ROI reaches 22.48% and total cumulative return in cash sums $73,874. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,816/mo property income instead of your personal income.
Condo
Built in 2010
2.49 Acres lot
$N/A/sqft
$810 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 |
|---|---|---|
| 2012-01-19 | Sold | $700,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-03-18 | $22675.55 | 47.50% | $913,600 | 72.70% |
| 2023-03-18 | $15372.74 | 0.62% | $529,000 | N/A |
| 2022-03-18 | $15277.52 | 0.56% | $529,000 | N/A |
Listed by: Margaret Defazio • Coldwell Banker Realty
Mls Name: GSMLS
Mls Provider:
Mls ID: #3951024
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.
