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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% |
Rental property for sale in Morristown at 62 Independence Way, Morristown, NJ, 07960 priced at $750,000 converts $5,092/mo rent into after a $3,671/mo obligation. Total monthly income equals $5,092/mo. Return on cash invested prints 16.88% in year one, and rental yield reads 8.15% against a $750,000 entry. Equity gained on principal adds $4,840/yr, while 5% annual appreciation compiles into $207,211 by year five. Five-year ROI reaches 88.5% and total cumulative return in cash sums $218,382. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,092/mo property income covering a $3,671/mo payment, not borrower’s personal income.
Townhouse
Built in 1983
2,613 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 |
|---|---|---|
| 2019-04-30 | Listing removed | $3,500 |
| 2019-02-12 | Listed for rent | $3,500 |
| 2018-07-28 | Listing removed | $3,500 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-04-17 | $9157.15 | -0.15% | $457,400 | N/A |
| 2023-04-17 | $9170.87 | 2.66% | $457,400 | N/A |
| 2022-04-17 | $8933.02 | 2.14% | $457,400 | N/A |
Listed by: Catherine Lutz • Prominent Properties Sir
Mls Name: GSMLS
Mls Provider:
Mls ID: #3957024
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.
