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485 Jersey Heights Road, Morristown, VT, 05661 | $699,000
485 Jersey Heights presents a rare, substantially shovel-ready residential investment opportunity in Morrisville. The property includes an existing 3-bedroom, 1-bath ranch-style single-family home plus approvals for a new 9-unit multifamily residential building on the rear portion of the property. The existing home offers immediate rental, owner-occupant, or interim income potential while the approved multifamily project is developed. The proposed rear building is approved for nine 1-bedroom residential units, creating a potential 10-unit residential property when combined with the existing single-family home. Zoning approval, state wastewater/potable water approval, subdivision/site documentation, and access-related permission/documentation are in place, subject to stated permit conditions. Site plan and permit package available for review. The property is located in Morristown’s High Density Residential district and offers a compelling opportunity for a builder, investor, or developer seeking an approved small multifamily project in a tight rental market. Total unit count reflects the existing single-family residence plus the approved/proposed 9-unit multifamily building; only the single-family residence currently exists. Buyer to perform due diligence regarding permits, plans, approvals, construction costs, utility connections, and all municipal/state requirements. Listing Broker is a member of the ownership LLC.
Features
- Units: 10
- Zoning: High Density Residential
- Year Built: 1983
- Acreage: 0.48
- Est. Taxes: $5,284
- MLS#: 5090627
- Website: https://www.raveis.com
/prop/5090627/485jerseyheightsroad_morristown_vt?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 5/25/2026Listing courtesy of Mink Realty Phone: 802-505-6633
Listing Agent: Graham Mink
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Joel FanjoyRegional SVP Insurance Sales, William Raveis Insurance
617.320.5687
Joel.Fanjoy@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
485 Jersey Heights Road, Morristown, VT, 05661
$699,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $559,200 | $559,200 | $559,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.250% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.474% | 6.640% | 5.972% |
| Monthly Tax Payment | $440 | $440 | $440 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,443 | $3,531 | $4,644 |
| Total Monthly Payment | $3,975 | $4,063 | $5,176 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484