NEW CONSTRUCTION

For sale

$1,600,000

Est. $10,026/mo —

•

3,673

sq ft

90 Chestnut St, Morristown, NJ 07960-5107

About this home

FULLY LEASED 7.84% GROSS RENTAL YIELD AT $1.6M ASKING PRICE! Exceptional opportunity to acquire a 2026 foundation-up reconstructed legal two-family in walkable Morristown. Unlike the typical older multifamily property, this side-by-side duplex combines immediate income from two long-term leases with the quality and efficiency of modern construction; tenants pay their own gas and electric. One residence offers 5 bedrooms and 3.5 baths, the other 3 bedrooms and 3.5 baths, each including finished lower-level living space with a bedroom and full bath. Both enjoy private entrances, separate utilities, upper-level laundry, contemporary kitchens with quartz countertops and generous islands, hardwood flooring, and beautifully tiled bathrooms. Extensive reconstruction includes new structural components, electrical, plumbing, high-efficiency HVAC, ERV ventilation, and enhanced insulation. A detached garage and three separately accessed storage rooms add functionality. Set on approximately two-thirds of an acre, just moments from Morristown Green, NJ Transit, restaurants, shopping, and major employers. A compelling combination of established income, modern construction, and long-term investment potential. Sold subject to existing leases.

Multi-familyProperty Type

2026Year Built

0.67 acresLot Size

$436Price/Sq.Ft.

3 car garageParking

Listed by EVGENY ONISHKEVICH • WEICHERT REALTORS

Listed by KERRY CAHILL-DEFUCCIO

Contact: 201-898-4089

Listing updated: Oct 15, 2026 at 01:16am

Redfin checked: 2 minutes ago

•Source:GSMLS #4058786

Payment calculator

$10,026 per month

Principal and interest$8,841

Property taxes

$1,066

HOA dues

Home insurance

$120

Utilities

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This home is unavailable to tour on this day.

Next available date: Sunday, October 18

Open houses

No upcoming open houses.

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Around this home

Schools

K - 12
Preschool & daycare

Some nearby schools may not be within this home's attendance zone. Please check the Morris School District website to verify.

Hillcrest Elementary School

Public K-2 • 0.5mi

Morristown High School

Public 9-12 • 0.6mi

3/10

Alexander Hamilton Elementary School

Public 3-5 • 0.5mi

7/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Offer insights

90 Chestnut St · $1,600,000

Strong offer

$1.67M and above

75% chance or better to win

Why $1.67M+ is a strong offer

DAYS ON MARKET

The average home goes pending in 30 days.

SALE-TO-LIST

Most homes are selling 5% above list price.

About offer insights

Property details

Interior
Exterior
Finance

Kitchen

Bathroom

Bedroom

Living

Interior features
Carbon monoxide detector
Smoke detector
Instant hot water
Kitchen exhaust fan
Ceiling fans

Bedrooms
8 bedrooms total: 3 in Unit 1 and 5 in Unit 2

Bathrooms
6 full bathrooms and 2 half bathrooms total

Kitchen
Dishwasher
Gas range/oven
Refrigerator
Microwave

Laundry & utility
Stackable washer and dryer in each unit

Flooring
Tile floors
Wood floors

Heating & cooling
Four-zone forced hot air and heat pump heating
Four-zone central air and heat pump cooling
Electric heating fuel

Sale and tax history for 90 Chestnut St

Sale History
Tax History

Year

Property tax

Land + Additions

Assessment*

2026

$13,486 (+5.5%)

$336,300 + $390,300

$726,600

2025

$12,788 (+11.7%)

$336,300 + $390,300

$726,600

2024

$11,444 (+2.7%)

$336,300 + $390,300

$726,600

2023

$11,145 (+0.6%)

$336,300 + $390,300

$726,600

2022

$11,075 (+0.6%)

$240,000 + $143,500

$383,500

2021

$11,014 (−0.4%)

$240,000 + $143,500

$383,500

2020

$11,056

$240,000 + $143,500

$383,500

2019

$11,052 (+1.3%)

$240,000 + $143,500

$383,500

2018

$10,911 (+3.1%)

$240,000 + $143,500

$383,500

2017

$10,585 (+2.6%)

$240,000 + $143,500

$383,500

2016

$10,312 (+3.6%)

$240,000 + $143,500

$383,500

2014

$9,955 (+0.4%)

$240,000 + $143,500

$383,500

2013

$9,913 (−0.9%)

$240,000 + $143,500

$383,500

2012

$10,002 (−1.0%)

$240,000 + $143,500

$383,500

2011

$10,105 (+1.9%)

$240,000 + $143,500

$383,500

2010

$9,913 (+2.3%)

$240,000 + $143,500

$383,500

2009

$9,695

$240,000 + $143,500

$383,500

Public record

Public record
Zoning

Beds

—

Baths

—

Stories

Lot width

—

Lot depth

—

Lot size

0.67 Acres

Year renovated

—

Finished Sq. Ft.

1,896

Unfinished Sq. Ft.

—

Total Sq. Ft.

1,896

Year built

1926

Style

Single Family Residential

County

Morris County

APN

2408501 00012

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Oct 8, 2026.

MF-1

Single- And Two-Family Residential District

The MF-1 District is characterized by a development pattern common in several of Morristown's existing one- and two-family neighborhoods. The MF-1 District boundaries largely follow those of the former RT-1 District, which was created in 2007 (per 2003 Master Plan). The RT-1 Zone was created by splitting the former RT District (one- to four-family) into two districts: RT-1, which was limited to two-family dwellings, and RT-2, which was limited to dwellings with a maximum of four units. The stated intent of the split was to prevent further congestion in these areas, to better protect the adjoining single-family neighborhoods, and to allow for redevelopment at an appropriate scale. Mixed-tenure neighborhoods and the dwellings within provide a variety of options for households of varying sizes, income levels, and preferences. This MF-1 Zone adds a courtyard building type which creates a new housing product that will respond to the demand for smaller, more affordable stand-alone dwellings that create realistic ownership opportunities at a wider range of income-levels.

Permitted uses

Include but are not limited to:

Housing-Single unit
Housing-Multiple units

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

5/10 Heat Factor

6 days above 99° expected this year, 12 days in 30 years

6/10 Wind Factor

27% chance of strong winds in next 30 years

3/10 Air Factor

3 unhealthy days expected this year, 4 days in 30 years

Provided by First Street

Historical weather

Morristown, NJ • 07960-5107

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

48/ 100

Low sunlight

Sunscore

There appears to be significant shading by surrounding buildings, terrain, and vegetation.

7.5 hrs

0.4 hr

JuneDecember

Provided by Shadowmap

Redfin Estimate for 90 Chestnut St

$1,590,583

$9,417 under list price of $1.60M

Nearby comparable homes

The Redfin Estimate uses 6 recent nearby sales, priced between $930K to $1.8M.

SOLD MAY 29, 2026
2 Exeter Ln, Morristown, NJ 07960-6340
$1,550,000 Last sold price
4 beds3.5 baths— sq ft
2 Exeter Ln, Morristown, NJ 07960-6340
43 years older
no basement
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43 Wetmore Ave, Morristown, NJ 07960-5245
$1,256,265 Last sold price
5 beds3.5 baths— sq ft
43 Wetmore Ave, Morristown, NJ 07960-5245
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4 beds3 baths— sq ft
89 Skyline Dr, Morristown, NJ 07960-5148
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SOLD AUG 18, 2026
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$930,000 Last sold price
4 beds2.5 baths— sq ft
4 Ashley Ct, Morristown, NJ 07960
smaller lot
45 years older
no basement

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(201) 918-4914

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Details provided by GSMLS and may not match the public record. Learn more.

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