Real Estate Investing in Mountain Lakes, New Jersey (07046)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07046 (Mountain Lakes, NJ)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 45.8 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Mountain Lakes, NJ (07046)?
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Market Analysis: 07046 Mountain Lakes
Not every below-median market is a bargain. Mountain Lakes's 07046 ZIP stands at signals that favor experienced operators who can absorb the risk $1.2M pricing implies.
Rent of $2,241/mo on a $1.2M basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 07046 sits below the stated 0.0% once reality is priced in.
The gap between 07046 and stronger Mountain Lakes ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The 07046 ZIP's population of 4,535 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
The 07046 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Mountain Lakes:
Property Strategy for 07046
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $874,913 | $3,110 | 2.6% | +7.4% | $291,638 |
| 4BR | $1,081,675 | $3,540 | 2.4% | +7.9% | $270,419 |
| 5BR | $1,498,862 | — | — | +7.8% | $299,772 |
Market Trends
Home Value History (with trend line)
📊 How Does 07046 Compare?
| Metric | 07046 | Mountain Lakes | New Jersey |
|---|---|---|---|
| Home Value | $1,231,359 | $1,231,359 | $559,826 |
| 5-Year CAGR | 6.7% | 6.7% | 8.4% |
| Avg Rent | $2,241 | $2,241 | - |
| Cap Rate | 1.4% | 1.4% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07046 (Mountain Lakes, NJ). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 07046 (Mountain Lakes, NJ)?
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Property managers serving Morris County
Manage rentals here? List your business →Denali Property Management New Jersey specializes in condo management. summary from their website
PMI Prime Property Services offers residential, association, and commercial property management in Northern New Jersey, including marketing, tenant screening, and maintenance. summary from their website
Alliance Property Management LLC provides property management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,231,359 |
| Monthly Rent | $2,241 |
| Price-to-Rent | 45.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.2% |
| Cap Rate | 1.4% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +4.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07046
Population: 4,535
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07046
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Boonton High School
John Hill School
Lakeview Elementary School
Riverview Elementary School
Rockaway Valley School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,705 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are rents high in Mountain Lakes, NJ?
Mountain Lakes, NJ rentals go for roughly $2,241/mo a month. That puts gross yield in solid territory relative to $1.2M acquisition costs.
Are homes affordable in Mountain Lakes, NJ?
Mountain Lakes, NJ home values average about $1.2M. That price point suits investors targeting rentals with $2,241/mo in monthly income.
How should investors approach Mountain Lakes, NJ?
In Mountain Lakes, NJ the notable play is typically careful cash-flow rentals with hands-on management. The combination of $1.2M prices and $2,241/mo rents suits that approach.
Does house hacking make sense in Mountain Lakes, NJ?
House hacking in Mountain Lakes, NJ is reasonable to execute. Prices around $1.2M and rents of $2,241/mo solid owner-occupant economics.
What is the typical vacancy rate in Mountain Lakes, NJ?
Occupancy in Mountain Lakes, NJ runs stable with elevated vacancy. Well-priced units at $2,241/mo lease on reasonable timelines.
You know 07046 now. You don’t know where it ranks.
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How 07046 ranks in New York-Newark-Jersey City, NY-NJ-PA
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