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    475 Morris Ave Summit, NJ 07901

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    For Sale
    $889,000

    Spacious two-family property near downtown Summit with strong rental history.

    Lot size:
    0.10 Acres

    Property Features for 475 Morris Ave

    General Information

    Lot size
    0.10 Acres

    Building Details

    Year built
    1900

    Source: COLDWELL BANKER REALTY Agent AMY SPELKER

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Summit Two-Family Investment Opportunity

    This Summit property is a true two-family residence, not a converted space. It features spacious 2-bedroom, 1-bath units characterized by hardwood floors, high ceilings, abundant natural light, and notable character. The property includes replaced windows and vinyl siding for reduced maintenance. A shared basement provides laundry and storage facilities. Parking is available for up to 4 cars. The utilities are separately metered. Updates to the property include a roof replacement in 2014, a new electrical panel, and hot water heaters installed in 2017 and 2018. The property has a strong rental history and is located in close proximity to downtown Summit, the train station, shops, and restaurants. The property is being sold in as-is condition.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Summit
    County
    Union
    State
    New Jersey
    Longitude
    -74.3705446
    Latitude
    40.7244743

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    FAQs

    What type of property is this?
    Duplex - Spacious two-family property near downtown Summit with strong rental history.
    Where is this duplex located?
    The property is located at 475 Morris Ave Summit, NJ.
    What is the asking price?
    The asking price for this property is $889,000.
    What are key features of this property?
    This property features: - True Two-Family Property: Offering distinct living units, not a converted space.; - Prime Location: Close to downtown Summit, train, shops, and restaurants.; - Strong Rental History: Proven income potential.
    (973) 377-4444
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    Summit, NJ 07901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    475 Morris Ave Summit, NJ 07901
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