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Sold for $1,700,000
    • $1,700,000

    40 Prospect St, Summit, NJ 07901

    3beds
    1,940sqft
    Single Family Residence
    Built in 1923
    0.31 Acres Lot
    $1,700,500 Zestimate®
    $876/sqft
    $4,745 Estimated rent

    Home value

    $1,700,500

    $1.51M - $1.90M

    $4,745/mo

    Zestimate® history

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    $10,091/mo

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    What's special

    Quiet tree-lined neighborhoodOversized lot
    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

    Zillow last checked:

    Listing updated:

    Listed by:

    SENADA GRAFAS 646-512-2926,

    EXP REALTY, LLC

    Source: All Jersey MLS,MLS#: 2607798RMLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 3
    • Bathrooms: 2
    • Full bathrooms: 1
    • 1/2 bathrooms: 1
    Dining room
    • Features: Formal Dining Room
    Kitchen
    • Features: Eat-in Kitchen
    Basement
    • Area: 0
    Heating
    • Baseboard, Radiant, Baseboard Hotwater
    Cooling
    • Wall Unit(s), Window Unit(s)
    Appliances
    • Included: Dishwasher, Dryer, Electric Range/Oven, Microwave, Refrigerator, Range, Washer, Gas Water Heater
    Features
    • Entrance Foyer, Kitchen, Bath Half, Living Room, Den, Dining Room, 1 Bedroom, 2 Bedrooms, 3 Bedrooms, Bath Full, None
    • Flooring: Carpet, Ceramic Tile, Wood
    • Basement: Full, Daylight, Storage Space, Laundry Facilities
    • Has fireplace: No
    Interior area
    • Total structure area: 1,940
    • Total interior livable area: 1,940 sqft

    Property

    Parking
    • Total spaces: 2
    • Parking features: 1 Car Width, Garage, Detached
    • Garage spaces: 2
    • Has uncovered spaces: Yes
    Features
    • Levels: Two
    • Stories: 2
    • Patio & porch: Deck
    • Exterior features: Deck
    Lot
    • Size: 0.31 Acres
    • Features: See Remarks
    Details
    • Parcel number: 1803202000000020

    Construction

    Type & style
    • Home type: SingleFamily
    • Architectural style: Colonial
    • Property subtype: Single Family Residence
    Materials
    • Roof: Asphalt
    Condition
    • Year built: 1923

    Utilities & green energy

    • Gas: Natural Gas
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Electricity Connected, Natural Gas Connected

    Community & HOA

    Location
    • Region: Summit

    Financial & listing details

    • Price per square foot: $876/sqft
    • Tax assessed value: $345,200
    • Annual tax amount: $15,037
    • Date on market: 11/21/2025
    • Ownership: Fee Simple
    • Electric utility on property: Yes

    Price history

    DateEventPrice
    10/30/2026Sold$1,700,000$876/sqft
    Source: All Jersey MLS #2607798R Report a problem
    7/20/2026Contingent$1,700,000$876/sqft
    Source: All Jersey MLS #2607798R Report a problem
    7/20/2026Pending sale$1,700,000$876/sqft
    Source: MoreMLS #22535176 Report a problem
    11/22/2025Listed for sale$1,700,000-43.3%$876/sqft
    Source: MoreMLS #22535176 Report a problem
    8/22/2000Sold$3,000,000$1,546/sqft
    Source: Agent Provided Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$15,037 $345,200
    2024$15,037 +0.7%$345,200
    2023$14,937 +1%$345,200
    2022$14,785 -0.8%$345,200
    2021$14,902 -1.1%$345,200
    2020$15,068 +0.6%$345,200
    2019$14,971 -0.6%$345,200
    2018$15,068 +1.5%$345,200
    2017$14,847 +2%$345,200
    2016$14,557 +2.7%$345,200
    2015$14,181 +1.1%$345,200
    2014$14,022 +2.4%$345,200
    2013$13,694 +3.6%$345,200
    2012$13,218 +2.4%$345,200
    2011$12,907 +4.2%$345,200
    2010$12,389 +4.5%$345,200
    2009$11,858 $345,200
    2008-- $345,200
    2007$11,412 $345,200
    2006-- $345,200
    2005-- $345,200
    2004-- $345,200
    2003-- $345,200
    2002-- $345,200
    2001-- $345,200
    Find assessor info on the county website

    Neighborhood: 07901

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    Estimated market value

    $1,700,500

    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value

    $1,700,500

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