202 Toner Rd · Boonton, NJ 07005-2324

$859,000

4 bd · 2.5 ba · 2,580 sqft · SingleFamily public records · 11 Days on market

Built 1988 0.29 ac lot $333/sqft · 6% below area Est $915k · 6% 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 +22.5/30.0
• ARV discount +10.3/15.0
• DSCR +7.2/10.0
• 1% rule +6.4/10.0
• Appreciation +5.0/10.0
• Livability +4.0/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Visit this meticulously maintained colonial, on a quiet newly developed street, and call it your new home! You will be wowed with the high cathedral ceilings and skylights that create a bright and airy atmosphere. Walk through the spacious dining room and into the renovated kitchen, which features refinished cabinets, newer appliances and granite countertops. Hardwood flooring throughout and lots of large windows that allow plenty of natural light in! Enjoy the warm and comfortable family room with a gas fireplace. Crown molding and special details throughout truly make this home unique and one of a kind! Upstairs you will find 3 generously sized bedrooms and the hallway bath. Primary su

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1988

Property features AI

Exterior

• Parking: 8 parking spaces total; 2-car garage (attached); Driveway with 2-car width; On-street parking
• Utilities: Public water; Public sewer; Natural gas available; All underground utilities; Cable TV available; Fiber optic available; Garbage service included
• Home design: Colonial style; Renovated in 2022; Approximate year built (renovated)
• Construction: Asphalt shingle roof
• Exterior features: Deck; Stucco and vinyl siding

Interior

• Kitchen: Breakfast bar; Eat-in kitchen; Dishwasher; Gas range/oven; Refrigerator
• Bedrooms: 3 total rooms (includes bedrooms and living areas)
• Flooring: Carpet; Marble; Tile; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced hot air heating (electric and natural gas); Central air conditioning
• Interior features: Carbon monoxide detector; Dishwasher; Dryer; Gas range/oven; Refrigerator; Washer; Electric water heater; One gas fireplace in the family room
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $859k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $859k).

Location & tenants

• Location reads 81/100 on livability (#58 in NJ, #1,511 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Boonton Town School District (suburban): math 20% / reading 50% proficiency, ranked #255 of 472 in NJ (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: School Street School (298 students, 31% FRL); Boonton High School (math 20% / reading 47%, grade F, #251 of 399 statewide, top 64%, 662 students, 28% FRL) — zoned schools at 29% 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).

Forward outlook

• In year one you build about $32k of equity ($6k loan paydown + $26k 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 $241k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $499k; list at $859k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $859,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.14% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 7.3

CMA / ARV

• ARV (median comp): $914,963
• List price: $859,000
• Delta: -6.12%
• Verdict: FAIR
• Comps: 7 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.2%
• Equity multiple: 1.81×
• Total profit: $195,687
• Equity at exit: $386,244

10-year hold

• IRR: 16.1%
• Equity multiple: 3.36×
• Total profit: $568,496
• Equity at exit: $595,247

Cash invested: $240,520 (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 07005-2324

• Active inventory: 1
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $9,750 medium
• Mortgage (P&I): −$4,505
• Tax from tax record: −$1,398 /mo · $16,771/yr
• Insurance: −$358
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,048
• Net cashflow: $1,442

Break-even live

Break-even rent $7,924

Max offer price $859,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,929	-5% $1,685	+0% $1,442	+5% $1,199	+10% $956
Rent	-10% $672	-5% $1,057	+0% $1,442	+5% $1,827	+10% $2,213
Rate	-1.0pp $1,875	-0.5pp $1,661	base $1,442	+0.5pp $1,220	+1.0pp $993

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: $214,750
• Closing costs: $25,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
77A Taylortown Rd Montville, NJ	5.0	3.5	3600	$9,750	$2.71	0d	1	1.38mi

Listing history 9 events

1. 2026-05-16
   listed $859,000 Active 1385-char remark
2. 2026-05-09
   historical $859,000 1385-char remark
3. 2016-04-13
   soldstatus $499,000
4. 2016-02-26
   soldstatus $499,000 Sold
5. 2015-12-14
   historical
6. 2015-09-11
   price $509,900
7. 2015-07-16
   price $519,900
8. 2015-04-23
   listed $529,900 Active
9. 1997-11-14
   soldstatus $264,000

ⓘ 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: $16,771 · $1,398/mo
• Projected year-2 tax: $19,080 · $1,590/mo
• Expected delta: +$2,309/yr (+$192/mo · 13.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $117,000
• − Mortgage interest: −$48,117
• − Property taxes: −$16,771
• − Insurance: −$4,295
• − Repairs & maintenance: −$9,360
• − Management: −$9,360
• − Depreciation: −$24,989
• Taxable income: $4,108
• Est. tax owed @ 24.0%: −$986
• After-tax cash flow: $16,322/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: Boonton Town School District
• NCES district ID: 3401950
• Math proficiency: 20% ▼ -34.00%
• Reading proficiency: 50% ▼ -12.00%
• Median HH income: $83,957
• Composite: 33.47/100
• National rank: #5453
• State rank: #255 of 472 in NJ

Livability — Boonton

• Score: 81/100
• State rank: #58
• US rank: #1511

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boonton, NJ

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

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

+225.4% since first listed

10 events — show timeline

• 2026-05-27 Pending — GSMLS
• 2026-05-16 Listed $859,000 GSMLS
• 2026-05-09 Coming Soon $859,000 GSMLS
• 2016-04-13 Sold (Public Records) $499,000 Public Records
• 2016-02-26 Sold (MLS) $499,000 GSMLS
• 2015-12-14 Delisted — GSMLS
• 2015-09-11 Price Changed $509,900 GSMLS
• 2015-07-16 Price Changed $519,900 GSMLS
• 2015-04-23 Listed $529,900 GSMLS
• 1997-11-14 Sold (Public Records) $264,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $16,771 · +2.9% YoY. Source: county tax records.