1002/1004 E Main St

Description

Don't miss this prime investment opportunity in the heart of Morristown! This income-producing duplex offers a strong rental history and excellent return potential. One unit was recently renovated and both units are currently leased on a yearly agreements. With a gross income of $20,400 per year, an estimated net income of $17,344, and a 8.7% cap rate, this property is a fantastic addition to any rental portfolio. The duplex features two distinct layouts: one unit is a single-level, 1-bedroom, 1-bathroom space, while the other offers up to 3 bedrooms, a bonus living area upstairs, and 1.5 baths, maximizing its rental appeal. Both units provide tenant-friendly conveniences such as individual washer and dryer hookups and two designated parking spaces per unit. Recent updates, including a metal roof installed within the last two years, add to the property's low-maintenance appeal. Additionally, the neighboring rental property at 926 E Main St is also available for purchase, presenting an incredible opportunity to acquire multiple income-producing units in one area. Located in a high-demand rental market, this property is minutes from shopping, dining, and major roadways, making it an attractive option for tenants and investors alike. Whether you're looking to expand your portfolio or make your first investment, this duplex is a rare find. Act now before this opportunity is gone!