2350 State Route 10 Unit B29 · Parsippany-Troy Hills, NJ 07054

$265,900

1 bd · 1.0 ba · 700 sqft · Condo · 7 Days on market

Built 1960 Good condition $332/mo HOA · 12% of rent

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This first-floor Cedarbrook condominium has been completely transformed into a sleek, move-in ready sanctuary. From the crisp, freshly painted walls to the modern bathroom renovation, every detail has been curated for a modern lifestyle. The neutral palette of the interior glows with natural light offering an inviting new home feel the moment you step through the door. An open-concept living and dining area are designed for seamless entertaining. The galley kitchen with new range and restored cabinets are adjacent to the dining area. The primary bedroom is a storage dream, featuring an oversized walk-in closet with ample room for year-round wardrobes and organization systems ensuring a clut

Key facts

• Galley kitchen
• $332 HOA
• Community pool

Tags

• FIRST-FLOOR CONDOMINIUM
• MODERN BATHROOM RENOVATION
• OPEN-CONCEPT LIVING AND DINING
• GALLEY KITCHEN
• OVERSIZED WALK-IN CLOSET
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• HOA & community: Monthly association fee; Association fee covers common area maintenance, exterior building maintenance, front lawn care, parking fee, pool(s), sewer, snow removal, trash, and water; Community amenities include common grounds, laundry facilities, picnic area, outdoor pool, and reserved/assigned parking; Pets allowed; cats permitted

Exterior

• Parking: Off-street parking; Parking lot; Other parking types; Reserved/assigned parking available through association
• Utilities: Electric heating and hot water; Electric cooling; Public water service; Shared sewer service; Municipal trash collection
• Home design: Condominium unit (Unit/Flat); Garden-style building (1–4 floors); Entry on first floor
• Construction: Brick construction
• Exterior features: Community outdoor pool; Above-grade structure; Not in a federal flood zone; Public water; Shared sewer; Municipal trash service

Interior

• Kitchen: Built-in range; Electric oven/range; Refrigerator
• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Ceiling heating; Radiant heating; Wall-mounted cooling unit (electric)
• Interior features: Open floor plan; Combination dining and living area; Family room located off the kitchen; Galley-style kitchen; Tub with shower; Flat ceiling
• Laundry & utility: No washer/dryer hook-up in unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $266k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $11 ($129/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $266k).

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Parsippany-Troy Hills Township School District (suburban): math 47% / reading 61% proficiency, ranked #94 of 472 in NJ (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Littleton Elementary School (math 61% / reading 64%, grade B, #91 of 1,303 statewide, top 7%, 411 students, 6% FRL); Brooklawn Middle School (math 51% / reading 65%, grade B, #46 of 431 statewide, top 11%, 904 students, 9% FRL); Parsippany Hills High School (math 44% / reading 67%, grade C, #75 of 399 statewide, top 19%, 998 students, 12% FRL) — zoned schools at 9% FRL track the district average.
• Market conditions: Rents rising fast (+4.6%/yr); 19 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,357 units permitted in Morris County in 2024 (1,496 in 5+ unit buildings).
• This rent runs 32% of the median local income ($104k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Morris County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $265,900

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 6.34%
• Cash-on-cash: 0.17%
• DSCR: 1.01
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.49×
• Total profit: $-37,728
• Equity at exit: $39,647

10-year hold

• IRR: -2.2%
• Equity multiple: 0.84×
• Total profit: $-12,211
• Equity at exit: $22,990

Cash invested: $74,452 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 07054

• Rents YoY: 4.6%
• Active inventory: 19
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,760 medium
• Mortgage (P&I): −$1,394
• Tax est. 1.5%: −$332 /mo · $3,988/yr
• Insurance: −$111
• HOA: −$332
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $11

Break-even live

Break-even rent $2,746

Max offer price $265,900

Occupancy floor 95%

Sensitivity live

Price	-10% $195	-5% $103	+0% $11	+5% $-81	+10% $-173
Rent	-10% $-207	-5% $-98	+0% $11	+5% $120	+10% $229
Rate	-1.0pp $145	-0.5pp $78	base $11	+0.5pp $-58	+1.0pp $-128

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $66,475
• Closing costs: $7,977
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Campus Dr Parsippany, NJ	2.0	1.0–3.0	1040	$3,098	$2.98	0d	1	0.39mi
1501 New Jersey 10 Parsippany, NJ	2.0	1.0–2.0	895	$3,709	$4.14	0d	166	0.61mi

HOA detail condo

• Monthly dues: $332 · $3,984/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-03
   days on market $265,900 Active 7 DOM
2. 2026-06-02
   days on market $265,900 Active 6 DOM
3. 2026-06-01
   days on market $265,900 Active 5 DOM
4. 2026-05-31
   days on market $265,900 Active 4 DOM
5. 2026-05-27
   listed $265,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $33,119
• − Mortgage interest: −$14,895
• − Property taxes: −$3,988
• − Insurance: −$1,330
• − Repairs & maintenance: −$2,650
• − Management: −$2,650
• − HOA: −$3,984
• − Depreciation: −$7,735
• Taxable loss: −$4,112
• Est. tax savings @ 24.0%: +$987
• After-tax cash flow: $1,116/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready condo has been completely transformed with a modern kitchen and bathroom renovation, fresh paint, and well-maintained exterior. It offers a sleek and inviting living space with ample storage and natural light.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both New flooring in kitchen — Modernizes space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both New flooring in kitchen — Modernizes space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Parsippany-Troy Hills Township School District
• NCES district ID: 3412480
• Math proficiency: 47% ▼ -18.00%
• Reading proficiency: 61% ▼ -11.00%
• Median HH income: $88,047
• Composite: 49.68/100
• National rank: #1969
• State rank: #94 of 472 in NJ

Livability — Parsippany-Troy Hills

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Morris County · 208,872 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 29,480
• Household income: $104,214
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 995.0

Population outlook (Morris County) Hauer SSP2

• Today (2025): 516,747 people
• By 2030: 524,603 · +1.5%
• By 2040: 539,582 · +4.4%
• By 2050: 548,986 · +6.2%
• By 2075: 571,326 · +10.6%
• By 2100: 561,122 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 44% Asian 42% Hispanic / Latino 8% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Subsaharan African 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 52% English-only · Other Indo-European 22% Other Asian/Pacific 8% Spanish 6%

Political lean MEDSL · Morris

• 2024 margin: Toss-up / Even · D 47.7% · R 50.4% · Other 1.9%
• 2008→2024 swing: +5.4pp toward D · 2008: -8.1pp · 2024: -2.7pp
• All cycles: 2024: R+2.7 2020: D+4.2 2016: R+4.4 2012: R+11.6 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -476.50%
• Current HPI: 269.9708
• Rent YoY: ▲ 4.57%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

1 event — show timeline

• 2026-05-27 Listed $265,900 BRIGHT MLS