Welcome to 249 Speedwell Avenue?a fully updated, income-producing two-family home in the heart of one of New Jersey?s hottest rental markets. Both apartments?one spacious 5-room unit and one charming 4-room unit?have been tastefully updated, allowing you to command top-dollar rent from day one with zero renovation downtime.Set on an oversized 0.29-acre lot, this property offers plenty of parking, outdoor space, and potential for future expansion (with approvals). Whether you?re an investor seeking immediate cash flow, a house hacker looking to live in one unit while the other covers your mortgage. This property delivers flexibility and profit potential.The location is unbeatable?minutes to the Morristown Green, NJ Transit direct to NYC, upscale dining, nightlife, shops, and year-round cultural events. With Morristown?s rental demand and property values surging, this is an investment you can hold for appreciation or leverage for short-term gains. Add a premium short-term rental strategy, furnished executive rentals, or corporate housing for even higher returns, tapping into Morristown?s strong tourism and commuter markets.Updated, income-ready, and in a prime growth market?249 Speedwell Ave is the kind of asset that builds wealth. Multiple income strategies, immediate equity growth, and a location that keeps tenants coming back?don?t miss your chance to secure it.
Active
$699,999
249 Speedwell Ave #2, Morristown Town, NJ 07960
4beds
--sqft
Est.:
Multi Family
Built in 1898
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Outdoor spacePotential for future expansion
- 1 day
- on Zillow |
- 628 |
- 25 |
Zillow last checked: 19 hours ago
Listing updated: August 12, 2025 at 04:21am
Listed by:
Robert Kobus 973-714-9513,
Coldwell Banker Realty,
Julia Pogois
Source: GSMLS,MLS#: 3980707

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Open house
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- 4+ Units, See Remarks, Electric
Cooling
- 4+ Units
Appliances
- Included: Dishwasher, Microwave, Range/Oven - Gas, Refrigerator, Washer/Dryer Stacked, Dryer, Microwave Oven, Washer, Gas Water Heater
Features
- Bedrooms, Eat-in Kitchen, Kitchen, Living Room, Master Bedroom, See Remarks
- Basement: Yes,Unfinished
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Parking
- Total spaces: 1
- Parking features: 1 Car Width, Asphalt, Off Street
- Uncovered spaces: 1
Features
- Levels: 3-Three Story
- Stories: 3
- Patio & porch: Porch
- Exterior features: Sidewalk
- Fencing: Partial
- Has view: Yes
- View description: Lake/Water View
- Has water view: Yes
- Water view: Lake/Water View
Lot
- Size: 0.29 Acres
- Dimensions: 50 x 257
- Features: Backs to Park Land, Irregular Lot
Details
- Parcel number: 2324033010000000280000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Shingle
- Roof: Asphalt Shingle
Condition
- Year built: 1898
- Major remodel year: 2024
Utilities & green energy
- Gas: Gas-Natural
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected
Community & HOA
Community
- Security: Carbon Monoxide Detector(s), Smoke Detector(s), Carbon Monoxide Detector, Smoke Detector, Fire Extinguisher
Location
- Region: Morristown
Financial & listing details
- Tax assessed value: $554,500
- Annual tax amount: $8,733
- Date on market: 8/11/2025
- Exclusions: None
- Total actual rent: 5900
- Tenant pays: Electricity, Tenant Pays Electric
- Electric utility on property: Yes
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