58 Chestnut Street #1MorristownNJ07960
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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
Total monthly income runs $4,375/mo, and a $3,377/mo payment. Purchase price stands at $690,000, and rental yield measures 7.61% with $4,375/mo rent. Return on cash invested shows 17.19% in year one, and 5% annual appreciation builds toward $190,634 over five years. Five-year ROI reaches 89.46% and total cumulative return in cash records $203,084. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,375/mo property income covering a $3,377/mo payment rather than investor’s personal income.
Condo
Built in 2006
0.67 Acres lot
$N/A/sqft
No 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: Serda Belekdanian • Coldwell Banker Realty Rdg
Mls Name: GSMLS
Mls ID: #3997983