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Rainbow Lakes Home for Sale

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    $474,500 Open Sun 1PM - 3PM

    • 3 Beds
    • 1 Bath

    145 Rainbow Trail, Denville, NJ 07834

    Welcome to this cozy updated and well maintained 3 bed 1 bath Ranch in private Rainbow Lakes Community. This clean and well cared for home sits across the street from the Main Lake conveniently located near one of our many access points.Be on vacation everyday. This turnkey home offers SS appliances, spacious bedrooms w ceiling fans, marble counter tops, hardwood throughout.Washer & Dryer on main

    Michele Demartino COLDWELL BANKER REALTY

    145 Rainbow Trail, Denville, NJ 07834

About Rainbow Lakes

Rainbow Lakes in Parsippany-Troy Hills, NJ, is a neighborhood characterized by Cape Cods, split-levels, and ranch-style homes. The community is unique for its use of public utilities and its own fire department, unlike many lake communities in the area. Residents pay an annual fee of $425 for the upkeep of amenities and lakes. The neighborhood features six lakes where residents can fish, swim, kayak, and even ice skate or play hockey in the winter. Rainbow Lakes Park offers a baseball field, playground, and a fenced-in tennis court exclusive to residents. Local attractions include Waterview Marketplace with a Whole Foods Market and downtown Denville, just 1 mile away, known for its dining options like The Pasta Shop and Hunan Taste Chinese Restaurant, as well as boutiques like Sweet Expressions By Geri. The community is active, with events such as the Rainbow Lakes Holiday Craft Fair and the annual Fish & Chips Dinner fundraiser. For commuting, residents have access to U.S. Route 46, Interstate 80, and Interstate 287, with Denville station providing train service to Penn Station in New York City. The Parsippany-Troy Hills Township School District serves the area, with highly rated schools including Intervale Elementary School, Brooklawn Middle School, and Parsippany Hills High School.

Frequently Asked Questions

Is Rainbow Lakes a good place to live?
Rainbow Lakes is a good place to live. Rainbow Lakes is considered very car-dependent and somewhat bikeable. Rainbow Lakes has 4 parks for recreational activities. It has a median age of 41. The average household income is $123,063 which is above the national average. College graduates make up 57.3% of residents. A majority of residents in Rainbow Lakes are home owners, with 36% of residents renting and 64% of residents owning their home. A local real estate agent serving Rainbow Lakes can help you decide if this neighborhood is the right one for you. Learn more on our Rainbow Lakes neighborhood guide.
How much do you need to make to afford a house in Rainbow Lakes?
The median home price in Rainbow Lakes is $550,000. If you put a 20% down payment of $110,000 and had a 30-year fixed mortgage with an interest rate of 6.83%, your estimated principal and interest payment would be $2,880 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $123K a year to afford the median home price in Rainbow Lakes. The average household income in Rainbow Lakes is $123K.
What are the best public schools in Rainbow Lakes?
The best public schools that serve Rainbow Lakes are:
What are the best private schools in Rainbow Lakes?
The best private schools that serve Rainbow Lakes are:
What are the most popular zip codes in Rainbow Lakes, Parsippany-Troy Hills, NJ?
The most popular zip codes in Rainbow Lakes, Parsippany-Troy Hills, NJ include 10314, 10301, 10304, 07305 and 07111.
What are the most popular neighborhoods near Rainbow Lakes, Parsippany-Troy Hills, NJ?
The most popular neighborhoods near Rainbow Lakes, Parsippany-Troy Hills, NJ are Parsippany, Troy Hills, Rockaway Township, Morris Township and Towaco.
Are home prices dropping in Rainbow Lakes?
Yes, home prices in Rainbow Lakes are down 1% in the last 12 months.

Home Trends in Rainbow Lakes, NJ

Home Trends

Median Price (12 Mo)
$550,000
Median Single Family Price
$550,000
Average Price Per Sq Ft
$478
Number of Homes for Sale
1
Last 12 months Home Sales
15
Months of Supply
0.80
Median List Price
$550,000
Median Discount From 1st List Price
0%
Median Home Sale Price YoY Change
-11%
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