787 Tabor Rd · Morris Plains, NJ 07950-2731

$350,000

3 bd · 1.0 ba · 1,280 sqft · SingleFamily public records · 14 Days on market

Built 1953 0.47 ac lot $273/sqft · 46% below area Est $645k · 46% under

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Why this score? — see what drove the C+ 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 +17.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.5/10.0
• DSCR +5.3/10.0
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Don't miss this great opportunity, bring your vision and make this home your own. This 3 bedroom 1 bath expanded ranch features good bones, a young roof and furnace, and a beautiful 1/2 acre property. Come see the upside some imagination and updating can bring to this diamond in the rough.

Key facts

• 1/2 acre property
• Young furnace
• Young roof

Tags

• YOUNG ROOF
• YOUNG FURNACE
• 1/2 ACRE PROPERTY

Property features AI

Exterior

• Parking: Approximately 6 parking spaces
• Security: Carbon monoxide and smoke detectors (interior)
• Utilities: Public water; Public sewer; Electric service; Natural gas service; Garbage service included
• Home design: Expanded ranch style; Approximate construction year listed as approximate
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Metal fence; Blacktop driveway (1 car width); Approximately 0.47-acre lot

Interior

• Kitchen: Not an eat-in kitchen (9 x 9); Gas range/oven
• Bedrooms: Primary bedroom on second floor (15 x 15); Bedroom on first floor (10 x 15); Bedroom on first floor (10 x 12); Office on second floor (11 x 17)
• Flooring: Carpeting; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced hot air heating (natural gas); Wall A/C unit(s)
• Interior features: Carbon monoxide detector; Smoke detector; Full, unfinished basement with walkout
• Laundry & utility: Basement laundry room; Basement utility room; Basement storage room; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 7.1% vs local median 2.9% in Morris Plains — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#288 in NJ) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• 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.
• Market conditions: 2 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 2,357 units permitted in Morris County in 2024 (1,496 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $10k appreciation (3.0% local appreciation)).
• 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 $98k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 7.10%
• Cash-on-cash: 2.87%
• DSCR: 1.13
• GRM: 7.9

CMA / ARV

• ARV (median comp): $644,865
• List price: $350,000
• Delta: -45.73%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.2%
• Equity multiple: 1.58×
• Total profit: $57,281
• Equity at exit: $157,375

10-year hold

• IRR: 12.6%
• Equity multiple: 2.87×
• Total profit: $183,359
• Equity at exit: $242,534

Cash invested: $98,000 (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 07950-2731

• Active inventory: 2
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,673 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$686 /mo · $8,238/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$771
• Net cashflow: $234

Break-even live

Break-even rent $3,377

Max offer price $350,000

Occupancy floor 89%

Sensitivity live

Price	-10% $432	-5% $333	+0% $234	+5% $135	+10% $36
Rent	-10% $-56	-5% $89	+0% $234	+5% $379	+10% $524
Rate	-1.0pp $410	-0.5pp $323	base $234	+0.5pp $143	+1.0pp $51

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Stockton Ct Morris Plains, NJ	3.0	2.5	1684	$3,600	$2.14	25d	1	0.90mi
1209 Littleton Rd Unit C Morris Plains, NJ	2.0	1.5	1020	$3,000	$2.94	4d	1	0.93mi
2110 Gates Ct Morris Plains, NJ	1.0–3.0	1.0–2.5	1490	$4,125	$2.77	0d	4	1.07mi
142 Patriots Rd Morris Plains, NJ	3.0	2.5	1748	$3,200	$1.83	0d	1	1.10mi
3 Campus Dr Parsippany, NJ	2.0	1.0–3.0	1040	$3,945	$3.79	0d	1	1.22mi
495 E Main St Denville, NJ	2.0	2.0	973	$3,288	$3.38	0d	4	1.36mi
250 Johnson Rd Morris Plains, NJ	1.0–2.0	1.5–2.0	1101	$4,137	$3.76	0d	10	1.38mi
169 Johnson Rd Morris Plains, NJ	1.0–2.0	1.0–2.0	1001	$4,310	$4.30	0d	17	1.47mi

Listing history 3 events

1. 2026-05-15
   status Under Contract 290-char remark
2. 2026-04-30
   listed $350,000 Active 290-char remark
3. 2000-04-05
   soldstatus $155,000

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $8,238 · $686/mo
• Projected year-2 tax: $8,476 · $706/mo
• Expected delta: +$239/yr (+$20/mo · 2.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,079
• − Mortgage interest: −$19,605
• − Property taxes: −$8,238
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,526
• − Management: −$3,526
• − Depreciation: −$10,182
• Taxable loss: −$2,749
• Est. tax savings @ 24.0%: +$660
• After-tax cash flow: $3,469/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.

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 — Morris Plains

• Score: 69/100
• State rank: #288
• US rank: #8571

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+141.9% since first listed

4 events — show timeline

• 2026-06-15 Sold (MLS) $375,000 GSMLS
• 2026-05-15 Pending — GSMLS
• 2026-04-30 Listed $350,000 GSMLS
• 2000-04-05 Sold (Public Records) $155,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $8,238 · +2.6% YoY. Source: county tax records.