40 West Park Place Unit 303 #303MorristownNJ07960
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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
Investment property for sale in Morristown at 40 West Park Place Unit 303 #303, Morristown, NJ, 07960 offers a 5.47% rental yield on a $749,900 purchase with $3,419/mo rent. 5% in year one. Equity gained on principal adds $4,839/yr while 5% annual appreciation supports $207,184 over five years. Portfolio math shows five-year ROI at 38.67% and total cumulative return in cash at $95,398. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,419/mo property income against a $3,670/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2010
2.49 Acres lot
$N/A/sqft
$657 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: Eugene Kevin Long • Weichert Realtors
Mls Name: GSMLS
Mls Provider:
Mls ID: #3955056
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