Real Estate Investing in Rockaway, New Jersey (07866)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07866 (Rockaway, 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.
What’s happening in Rockaway, NJ (07866)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07866 Rockaway
This part of Morris County is not an easy win. The 07866 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Looking more closely, the numbers look inviting — $575K purchase price, 0.0% nominal cap — the work to hit that pro forma in 07866 is substantial and deserves full respect.
In the broader NJ picture, 07866 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Employment concentration in 07866 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Rockaway's stable or hybrid ZIPs before stepping into 07866. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Rockaway:
Property Strategy for 07866
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $321,455 | $1,980 | 4.4% | +8.6% | $321,455 |
| 2BR | $454,626 | $2,400 | 3.8% | +8.1% | $227,313 |
| 3BR | $549,175 | $3,010 | 3.9% | +9.1% | $183,058 |
| 4BR | $668,792 | $3,410 | 3.7% | +8.9% | $167,198 |
| 5BR | $825,134 | — | — | +9.3% | $165,027 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07866 Compare?
| Metric | 07866 | Rockaway | New Jersey |
|---|---|---|---|
| Home Value | $575,419 | $575,419 | $559,826 |
| 5-Year CAGR | 6.4% | 6.4% | 8.4% |
| Avg Rent | $2,669 | $2,669 | - |
| Cap Rate | 3.6% | 3.6% | - |
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 07866 (Rockaway, NJ). Anonymous, moderated, never written by AI.
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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 | $575,419 |
| Monthly Rent | $2,669 |
| Price-to-Rent | 18.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +6.1% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 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 (3.6%). 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 07866
Population: 22,632
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 07866
Schools in This ZIP Code
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
What is the typical rental rate in Rockaway, NJ?
The typical rental in Rockaway, NJ commands about $2,669/mo monthly. That rent profile steady cash flow against the $575K purchase basis.
Do rentals sit vacant long in Rockaway, NJ?
Expect elevated vacancy in Rockaway, NJ. Rents at $2,669/mo are absorbed by the tenant base without meaningful lag.
Does Rockaway, NJ make sense for an investment property?
The 3.0/5 investability rating in Rockaway, NJ reflects its $575K prices and $2,669/mo rents. Investors generally consider it a solid option within NJ.
What price range are homes in Rockaway, NJ?
The median home value in Rockaway, NJ is roughly $575K. That puts it reasonable relative to the NJ statewide average.
How viable is house hacking in Rockaway, NJ?
The house hack math a challenging in Rockaway, NJ. Owner-occupant buyers benefit from the $2,669/mo rents and $575K home values.
You know 07866 now. You don’t know where it ranks.
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How 07866 ranks in New York-Newark-Jersey City, NY-NJ-PA
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