Prime Investment Opportunity: 20 Morris Lake Rd, Sparta, NJRare lakefront multifamily property featuring 7,800 sq. ft. of living space and direct privatelake and beach access. Listed at $778,000 (appraised as-is at $830,000), with a certifiedpost-completion appraisal of $1,315,000. Configured for 3 spacious luxury units (each 3 bed/ 2 bath with open-concept layout and laundry), delivering projected rents of$3,600"$4,200/month per unit and over $35,000 in net annual cash flow. Siding is 60%complete; requires HVAC, septic update, and interior finishes to complete. All supportingdocuments (survey, site plans, architectural/engineering drawings, tax assessments)available upon proof of funds. Cash or hard money buyers only.
Active
Price increase: $7K (8/28)
$785,000
20 Morris Lake Rd, Sparta Twp., NJ 07871
7beds
7,800sqft
Multi Family
Built in 1910
-- sqft lot
$775,400 Zestimate®
$101/sqft
$-- HOA
What's special
Lakefront multifamily propertyOpen-concept layout
- 41 days
- 2,128
- 132
Zillow last checked:
Listing updated:
Listed by:
Maria Tsabrova 862-262-5869,
Rewards Realty Llc
Source: GSMLS,MLS#: 4044809
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 6
- Full bathrooms: 6
Heating
- 3 Units, Heat Pump, Zoned, Electric, Gas-Propane Leased, Oil Tank Above Ground - Outside
Cooling
- 3 Units, Ductless Split AC
Appliances
- Laundry: Laundry Room
Features
- High Ceilings, Walk-In Closet(s), Attic, Bedrooms, Dining Room, Kitchen, Living/Dining Room, Living Room, Storage
- Basement: Yes,Crawl Space,Partial,Unfinished
- Number of fireplaces: 2
Interior area
- Total structure area: 7,800
- Total interior livable area: 7,800 sqft
Property
Parking
- Total spaces: 8
- Parking features: 2 Car Width, Driveway-Exclusive, Gravel, Attached Garage
- Attached garage spaces: 2
- Uncovered spaces: 8
Features
- Levels: 3-Three Story
- Stories: 3
- Patio & porch: Patio
- Exterior features: Barbecue, Dock, Sidewalk
- Has view: Yes
- View description: Mountain(s)
- Waterfront features: Lake Front
Lot
- Size: 1.47 Acres
- Dimensions: 1.45 ACS
Details
- Parcel number: 2818270010000000400000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Aluminum Siding, Vertical Siding, Vinyl Siding
- Roof: Asphalt Shingle
Condition
- Under Construction
- New construction: Yes
- Year built: 1910
- Major remodel year: 2026
Utilities & green energy
- Gas: Gas In Street, Gas-Propane
- Sewer: Septic Tank
- Water: Well
- Utilities for property: Electricity Connected, Gas In Street, Propane, Fiber Optic
Community & HOA
Community
- Security: Carbon Monoxide Detector(s), Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
Location
- Region: Sparta
Financial & listing details
- Price per square foot: $101/sqft
- Tax assessed value: $600,900
- Annual tax amount: $22,041
- Date on market: 8/4/2026
- Total actual rent: 0
- Tenant pays: Electricity, Gas, Tenant Pays Heat, Tenant Pays Electric, Tenant Pays Gas
- Electric utility on property: Yes
Estimated market value
$775,400
$737,000 - $814,000
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/28/2026 | Price change | $785,000+0.9%$101/sqft |
Source:  GSMLS #4044809 Report a problem | ||
| 8/15/2026 | Price change | $778,000+2.6%$100/sqft |
Source: GSMLS #4044809 Report a problem | ||
| 8/4/2026 | Listed for sale | $758,000+110.3%$97/sqft |
Source: GSMLS #4044809 Report a problem | ||
| 4/24/2024 | Sold | $360,500-5%$46/sqft |
Source: GSMLS #3874607 Report a problem | ||
| 3/15/2024 | Pending sale | $379,500$49/sqft |
Source: GSMLS #3874607 Report a problem | ||
| 2/26/2024 | Price change | $379,500-8.8%$49/sqft |
Source: GSMLS #3874607 Report a problem | ||
| 2/2/2024 | Price change | $415,900-6.2%$53/sqft |
Source: GSMLS #3874607 Report a problem | ||
| 1/18/2024 | Price change | $443,500-9.3%$57/sqft |
Source: GSMLS #3874607 Report a problem | ||
| 1/3/2024 | Price change | $489,000-9.3%$63/sqft |
Source: GSMLS #3874607 Report a problem | ||
| 12/19/2023 | Price change | $539,000-10.1%$69/sqft |
Source: GSMLS #3874607 Report a problem | ||
| 12/4/2023 | Price change | $599,300-5.8%$77/sqft |
Source: GSMLS #3874607 Report a problem | ||
| 11/15/2023 | Listed for sale | $636,000$82/sqft |
Source: GSMLS #3874607 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $22,041 +2.2% | $600,900 |
| 2024 | $21,566 +3% | $600,900 |
| 2023 | $20,947 +2.5% | $600,900 |
| 2022 | $20,443 +1.6% | $600,900 |
| 2021 | $20,118 +1.1% | $600,900 |
| 2020 | $19,902 +2.2% | $600,900 |
| 2019 | $19,481 +1.2% | $600,900 |
| 2018 | $19,241 +2.4% | $600,900 |
| 2017 | $18,790 +44.5% | $600,900 |
| 2016 | $13,005 +1.6% | $600,900 +79.7% |
| 2015 | $12,794 +2.2% | $334,400 |
| 2014 | $12,523 | $334,400 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 07871
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