Score
0Morristown, NJ
12 Canfield Rd
9.9M
8 beds
12 baths
8 bd • 12 ba • sf
This analysis was generated on 2/28/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$9,950,000
Price/Sq.Ft
$9,950,000
Year Built
1917
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Original stained glass windows
• Elaborate carvings and millwork
• Multi-level stone terraces and gardens
• Wine cellar and speakeasy-style gathering room
• Outdoor kitchen with pizza oven
• Two-story living room with limestone fireplace
• Chef's kitchen with butler's pantry and prep kitchen
• Home office with private entrance
• Gym
• Mixed-use zoning offers potential for commercial development
• Proximity to downtown Morristown and Madison increases desirability
• Unique architectural features may attract high-end buyers
• After accounting for ~$30,000 in repairs, this property could still have $520,000 in potential equity (requires significant renovation investment)
• Rental Potential: $124,500 estimated annual revenue (after renovations)
The Bad
• Updating electrical and plumbing systems (Estimated Cost: $15,000)
• Roof inspection and potential repairs (Estimated Cost: $10,000)
• Landscaping and tree maintenance (Estimated Cost: $5,000)
• High price point limits the pool of potential buyers
• Significant maintenance costs associated with a historic property of this size
• Climate risks, particularly wind, may require costly insurance and mitigation
• Wind risk is critical, suggesting potentially higher insurance costs. Flood risk is minimal, so flood insurance is not critical.
• Safety Concern: Score 7/10 - Specific crime data for the immediate vicinity is unavailable, but Morristown generally has lower crime rates compared to larger urban areas in New Jersey.
The Ugly
• The property's age (built in 1917) may present potential maintenance challenges associated with older homes, such as outdated plumbing, electrical systems, or roofing.
• The large square footage (over 30,000 sq ft) could result in high utility costs and increased maintenance expenses.
• The property has been on the market for 295 days, which is longer than average for the area, potentially indicating pricing or condition issues.
• The property has had multiple price changes, including a significant increase and subsequent decrease, which may raise concerns about its market value.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
Rental Property Investors: Potential annual revenue of $124,500 with 90% occupancy rate
Value Investors: Projected 15.6% appreciation potential in moderate scenario
Renovation-Minded Buyers: Estimated $30,000 in strategic upgrades could significantly increase property value
Not For
Risk-averse buyers: Property faces significant climate-related insurance costs and risks
Demographics
Area Median Income
$147,949
Property History
Price History
Ownership Timeline
$4,000,000Financed
Jun 18, 2014Gfr Maywood LlcJoseph D Cetrulo Jr, Catherine Cetrulo
Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
May 5, 2011Christopher Shields, Melitta ShieldsGfr Maywood Llc
Sheriffs Deed
Foreclosure
$0Cash Purchase
Oct 18, 2007Christopher J ShieldsChristopher J Shields, Mellitta Shields
Intrafamily Transfer
Non-Arm's Length Transactions
$1,150,000Financed
Dec 24, 1996General Drafting Co IncChristopher J Shields
Deed
Standard Sale (Purchase/Resales)
Property Taxes
$105,615
2024 Tax Assessment
30.4%from previous year
Assessed Value$4,038,800
Tax Rate2.61%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
4.0/10
AverageHigh
5.0/10
AverageFinancials
Monthly Costs
Market Rent (8 bed)
Get a detailed estimate on Zillow$1,630
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