7 Chestnut Ct, Basking Ridge, NJ, 07920 | Equity Gain $3,801/yr

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7 Chestnut Ct, Basking Ridge, NJ, 07920 | Equity Gain $3,801/yr | 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 Basking Ridge at 7 Chestnut Ct, Basking Ridge, NJ, 07920 priced at $589,000 converts $0/mo rent into after a $2,883/mo obligation. Total monthly income equals $0/mo. Return on cash invested prints -5.94% in year one, and rental yield reads 0% against a $589,000 entry. Equity gained on principal adds $3,801/yr, while 5% annual appreciation compiles into $162,730 by year five. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $0/mo property income covering a $2,883/mo payment, not borrower’s personal income.

Condo

Built in 1988

N/A lot

$N/A/sqft

No HOA

More details about the property

Beautiful move in ready, 2 bedroom, 2.5 bath townhome located in the highly sought after Cedars neighborhood of Basking Ridge. Natural sunlight fills the home, thanks to cathedral ceilings in the living room, and multiple sliding doors and skylights. The wood burning fireplace in the living room is an excellent place to cozy up with a nice book and unwind. An updated kitchen features granite countertops, custom cabinets, stainless steel appliances, and a prep island. Hardwood floors flow throughout the entire space to allow for comfort and ease of maintenance. The upper level boasts a bright and airy loft, ideal for relaxing after a long day, or for use as a potential home office. The finished lower level provides space for a gym, movie theater, or hobbies. Located in an excellent school district, and within close proximity to parks, a golf course, walking trails, and highways 78/287/202/206. HOA amenities include a pool, clubhouse, tennis courts, and basketball courts. No pets.

Neighborhood Data

Neighborhood data shown for ZIP Code: 07920, Basking Ridge, NJ area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	11,074 (100%)
Owner Occupied HU	8,740 (78.9%)
Renter Occupied HU	1,861 (16.8%)
Vacant Housing Units	473 ( 4.3%)
Median Home Value	$874,651
Average Home Value	$959,629