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40 Prospect StreetSummit, NJ 07901

Single Family · 3 Beds · 1 Full Bath · 1 Half Bath · 1,940 Sq. ft. | 0.31 Acres
$1,700,000 Active

40 Prospect Street Overview

Time on Site:
219 days
Visits:
17

Introducing 40 Prospect Street - a rare opportunity in the heart of the highly desirable Summit, NJ! This longstanding 3BR/1.5BA colonial sits on an oversized lot and is ready for complete modern renovation / rebuild! Positioned in a quiet tree-lined neighborhood, this home is just minutes from downtown Summit and its restaurants, shopping, and direct rail service to NYC via NJ Transit. This property offers a combination of prime location, property size, top-rated schools, and more in one of Union County's most sought-after neighborhoods. To all homeowners and homebuilders, this is truly one with plenty of potential for its next chapter. Strictly ''AS IS'' sale, buyer responsible for C/O

Listing provided courtesy of EXP REALTY, LLC- MLS# 2607798RMLS Provider
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40 Prospect Street Facts & Features

  • Type Single Family
  • Sq. ft. 1,940
  • Price/Sq.ft. $876
  • Lot 0.31 Acres

Details

General

Association/HOA

  • Association Fee: $0.00
  • Association Fee 2: 0
  • Association Fee 2 Frequency: Monthly

Income/Expenses

  • Maintenance Expense: 0

Building Information

  • Year Built: 1923

Location/Region

  • County Or Parish: Union
  • Subdivision Name: Canoe Brook

Tax Information

  • Tax Annual Amount: $15,037.00
  • Tax Year: 2024

General Information

  • Ownership: Fee Simple
  • Parcel Number: 1803202000000020
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • Senior Community: No

Interior

Parking Information

  • Garage Spaces: 2
  • Garage: Yes

Beds/Baths

  • Bathrooms Full: 1
  • Bathrooms Half: 1
  • Bathrooms Total: 2
  • Bedrooms Total: 3

Building Interior

  • Building Area Total: 1940

General Information

  • Appliances: Dishwasher, Dryer, Electric Range/Oven, Microwave, Refrigerator, Range, Washer, Gas Water Heater
  • Basement: Full, Daylight, Storage Space, Laundry Facilities
  • Cooling: Wall Unit(s), Window Unit(s)
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Carpet, Ceramic Tile, Wood
  • Interior Features: Entrance Foyer, Kitchen, Bath Half, Living Room, Den, Dining Room, 1 Bedroom, 2 Bedrooms, 3 Bedrooms, Bath Full, None
  • Levels: Two
  • Living Area: 1940
  • Living Area Units: Square Feet
  • Rooms Total: 7
  • Stories: 2
  • Stories Total: 2

Exterior

Parking Information

  • Open Parking: Yes
  • Parking Features: 1 Car Width, Garage, Detached

Lot Information

  • Lot Features: See Remarks
  • Lot Size Acres: 0.31
  • Lot Size Area: 0.31
  • Lot Size Square Feet: 13504
  • Water Source: Public

Building Exterior/Construction

  • Architectural Style: Colonial
  • Attached Garage: No
  • Patio And Porch Features: Deck
  • Property Attached: No
  • Roof: Asphalt

General Information

  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 2
  • Exterior Features: Deck
  • Sewer: Public Sewer
  • Utilities: Electricity Connected,Natural Gas Connected

40 Prospect Street Neighborhood

Community

07901 (SUMMIT) Demographics

40
Median Age
3,688
Population Density (per sq. mile)
75%
College Educated
$142,909
Estimated Median Income
5,878
Estimated Total Home Owners
2,531
Estimated Total Renters
70% / 30%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

40 Prospect Street Monthly Cost

$
$ %
%
$
$
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

40 Prospect Street Market Data

Based on the last 30 days in this zip code

$1,445,000
Average List Price
$1,489
Average Price per Square Foot
1
Properties Sold
127
Average Days on Market
2
Properties for Sale
Calculations provided by Reliance Network

40 Prospect Street History

Date Event Value Agent
11/22/2025Source: All Jersey MLS Added to Database
November 22, 2025