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sales rep | Brivity IDX

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18 Sherman Ave , Morris Twp., NJ 07950
$1,095,000
Est. Payment: $5,913.01/mo
7 Bed
4 Bath
0.17 Acres
Status: active | Days on site: 15
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House Description

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!

Highlights

Listed by JULIANA PIRTEA , MP COLDWELL BANKER REALTY , 908-879-4900. Garden State MLS

Property Type

Multi-Family

Lot/Acreage
0.17

Year Built

1928

County

Morris

Neighborhood

Morris Plains

Listing ID

4060667

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:7
  • ▪ Bathrooms:4
  • ▪ Full Bathrooms:3
  • ▪ 1/2 Bathrooms:2
Basement:Unfinished
Other:
  • ▪ Additional:Carbon Monoxide Detector, Carpeting, Fire Extinguisher, Smoke Detector, Wood Floors
Water:Public Water

Exterior Features

Lot:Level Lot
Lot Dimensions:.165 AC
Roof:Asphalt Shingle
Others:
  • ▪ Additional:Patio, Vinyl Siding, 1 Car Width
Sewer:Public Sewer
Parking Features:Detached Garage
Principal Interest
$5,913
Taxes
$780

Home Price

$1,095,000

Loan Details

30 yrs
7.144%

Down Payment

20%
$219,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$5,913.01

Principal

Taxes

Principal Taxes HOA Total
Monthly $5,913.01 $779.92 $0.00 $6,692.93
Yearly $70,956.15 $9,359.00 $0.00 $80,315.15
Total $2,128,684.50 $280,770.00 $0.00 $2,409,454.50
Lender profile image
Chico Gordy
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Market insight data is pulled from the same city as the listing being viewed (Morris Twp., NJ).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Garden State MLS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-11-13T17:58:39.000Z

© 2026 Garden State MLS