93 Orston Rd

Parsippany-Troy Hills, NJ 07054-3168

$4,200D+

5 bd · 3.0 ba · 1,508 sqft · Built 1960 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,500/mo
• Mortgage (P&I): −$22
• Tax + insurance: −$7
• HOA: −$0
• Vac / Maint / Mgmt: −$945
• Net cashflow: $3,526/mo
• Annual: $42,312/yr
• Cap rate: 1013.71%
• Cash-on-cash: 3597.93%
• DSCR: 161.09
• 1% rule: 107.14%
• Cash to close: $1,176

Investor read

• This is a 5-bed/3.0-bath single-family listed at $4k.
• At list price, monthly cash flow is $4k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $4k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $155 of equity ($29 loan paydown + $126 appreciation (3.0% local appreciation)).
• 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: Eastlake Elementary School (math 57% / reading 52%, grade C, #176 of 1,303 statewide, top 15%, 370 students, 8% FRL) — zoned schools at 8% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,357 units permitted in Morris County in 2024 (1,496 in 5+ unit buildings).
• Morris County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.