In a world of inexperienced first-time real estate investors becoming do-it-yourself contractor-flippers combined with recent relaxed requirement for certain building permits and inspections have
Dated: September 18 2018
Little more than two and a half square miles, the borough of Morris Plains is a small, 5,000-person suburb bordering Morristown. This upscale bedroom community allows professionals to easily commute into Morristown and Essex County. The Morris Plains station also has its own stop on the Morristown Line, which provides services to Newark Broad Street, Hoboken, Secaucus, and New York Penn Station.
There is a modest downtown in Morris Plains with tiny but impressive selection of great restaurants. For example, Arthur’s Tavern, a beloved local steakhouse, is just across the street from Morris Plains station. Verde Ristorante, another local’s favorite, is an affordable Italian bistro with incredible entrees.
That being said, many residents may go out and dine in nearby Morristown. The borough’s quick access to the county seat’s busy downtown starkly contrasts with its remarkably quiet, affluent neighborhoods. This combination of access and solitude is why many residents choose to live in Morris Plains.
The estimated median home value in Morris Plains is $490,623, which is $130,000 more than the New Jersey average. The estimated median household income is similarly higher than state average, at $128,284. More than 23% of households have an annual income greater than $200,000.
Of New Jersey’s 611th school districts, the Morris Plains School District ranks 79th. The district does not, however, have any middle schools or high schools. After primary school, students from Morris Plains attend the Morris School District, which consistently ranks in the top 40 school systems in New Jersey.
Due to the borough’s convenient location, a few major corporations have put their headquarters, or a significant branch in Morris Plains. Honeywell built its global headquarters in 2015. Pfizer formerly had its headquarters on a 63-acre property in Morris Plains, which it has since demolished and sold to developers.
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