About this home

RARE 3 UNIT INVESTMENT OPPORTUNITY IN MORRIS PLAINS!GREAT INCOME POTENTIAL! A phenomenal opportunity for investors seeking to expand their portfolio with a unique, income-producing property in Morris Plains! Featuring two separate homes on 1 lot, a duplex and a SF/Home,2 garages, low property taxes, long-term tenants already in place, and a prime location with proximity to direct train service to NYC, this property offers an attractive combination of convenience and investment potential.The main residence features a side-by-side duplex each with 3 bdr, 1.5 baths, and a spacious basement providing abundant storage. A brand-new roof installed in October 2026 adds further appeal. The separate rear cottage was beautifully renovated in 2024 and offers 1 bedroom, 1 bath ,a generously sized living/dining area, and a spacious primary bedroom.Additional highlights include ample off-street parking and private rear patio areas for each residence, providing desirable outdoor space and added tenant appeal.With long-term tenants in place, convenient access to NYC transportation, and the advantage of relatively low property taxes, this distinctive 3 unit property presents an exciting opportunity for investors looking to build long-term wealth through real estate. Explore the income potential, evaluate the numbers, and discover the possibilities this exceptional investment has to offer!Two homes. A compelling opportunity to grow your portfolio in Morris Plains! Not to be missed!

Facts and features

Schools

• Frelinghuysen Middle School

  middle · 6-8 · 0.9 mi

  5

• Morristown High School

  high · 9-12 · 1.3 mi

  3

• St Virgil Elementary School

  elementary · K-8 · 0.1 mi

• Alfred Vail Elementary School

  elementary · K-2 · 0.2 mi

• Sussex Avenue Elementary School

  elementary · 3-5 · 0.8 mi

  6

• The Red Oaks School

  elementary · PK-8 · 0.8 mi

Price history

• Oct 22, 2026 · Listed$1,095,000
• Oct 21, 2020 · Listing Removed—
• Oct 9, 2020 · Listed For Rent$1,850
• Aug 11, 2020 · Listing Removed—
• Jul 24, 2020 · Listed For Rent$1,850
• Mar 31, 1997 · Sold$250,000

Tax history

• 2026$9,540 tax · $475,600 assessed
• 2025$9,359 tax · $475,600 assessed
• 2024$9,521 tax · $475,600 assessed
• 2023$9,535 tax · $475,600 assessed
• 2022$9,288 tax · $475,600 assessed
• 2021$9,093 tax · $475,600 assessed
• 2020$8,855 tax · $475,600 assessed
• 2019$8,717 tax · $475,600 assessed

Home value

$991,000

• Collateral Analytics$991,000
• Cotality$796,700
• Quantarium$1,053,297

Where it is