40 Prospect St

$1,700,000
Price
3
Beds
1,940 Sq. Ft.
$876 / Sq. Ft.
1,940
Sq. Ft.
$876
per Sq. Ft.

Description

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...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
  1. Listed by SENADA GRAFAS • EXP REALTY, LLC

Property Details for 40 Prospect Street

Architectural Style
Colonial
Year Built
1923
Subdivision Name
Canoe Brook
LISTING UPDATED: 11/23/2025 06:47 PM

Property Details for 40 Prospect Street

StatusActive
MLS #2607798R
Days on Market33
Taxes$15,037 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built1923
Lot Size0.31 AC / 13,504 SF
CountyUnion County

Location

Listing Courtesy of EXP REALTY, LLC, SENADA GRAFAS
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Building Information for 40 Prospect Street

Stories2Year Built1923Building Size-Lot Size0.31 AC / 13,504 SF

Payment Calculator

$9,653 per month

30 year fixed, 6.28% Interest

Principal and Interest

$8,400

Property Taxes

$1,253

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 40 Prospect Street

Summary
Location and General Information
  • State Or Province: NJ
Parking
  • Attached Garage: No
  • Carport Spaces: 0.0
  • Carport: No
  • Covered Spaces: 2.0
  • Garage Spaces: 2.0
  • Garage: Yes
  • Open Parking: Yes
  • Parking Features: 1 Car Width, Garage, Detached
Owner
  • Ownership: Fee Simple
Taxes and HOA Information
  • Tax Annual Amount: $15,037.00
  • Tax Year: 2024
  • Association Fee: $0
  • Association Fee2: $0
  • Association Fee2 Frequency: Monthly
  • Other Fees: $.00
  • Monthly Payment: $.00
Property
Lot Information
  • Building Area Total: 1940.0
  • Levels: Two
  • Living Area: 1940.0
  • Living Area Units: Square Feet
  • Lot Features: See Remarks
  • Lot Size Acres: 0.31
  • Lot Size Area: 0.31
  • Lot Size Dimensions: 0.00 x 0.00
  • Lot Size Square Feet: 13504.0
Property and Assessments
  • Water Source: Public
  • Parcel Number: 1803202000000020
  • Photos Count: 17
  • Property Attached: No
Utilities
  • Senior Community: No
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected
Interior and Exterior Features
Interior Features
  • Cooling: Wall Unit(s), Window Unit(s)
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Carpet, Ceramic Tile, Wood
  • Gas: Natural Gas
  • Heating: Baseboard, Radiant, Baseboard Hotwater
  • Heating: Yes
  • Interior Features: Entrance Foyer, Kitchen, Bath Half, Living Room, Den, Dining Room, 1 Bedroom, 2 Bedrooms, 3 Bedrooms, Bath Full, None
  • Postal Code: 07901
  • Bathrooms Full: 1
  • Bathrooms Half: 1
  • Bathrooms Total: 2
  • Bedrooms Total: 3
  • Basement: Full, Daylight, Storage Space, Laundry Facilities
  • Basement Area: 0.0
  • Bathrooms Total: 2
  • Dining Room Features: Formal Dining Room
  • Kitchen Features: Eat-in Kitchen
  • Appliances: Dishwasher, Dryer, Electric Range/Oven, Microwave, Refrigerator, Range, Washer, Gas Water Heater
  • Dining Room: Yes
Exterior Features
  • Service: See Remarks
  • Exterior Features: Deck
  • Patio And Porch Features: Deck
  • Roof: Asphalt
  • Stories: 2
  • Stories Total: 2
Multi Family
Income & Expenses Information
  • Maintenance Expense: $0

Property History for 40 Prospect Street

DateEvent & SourcePriceAppreciation
Nov 22, 2025

Listed (Active)

MOMLS #22535176

$1,700,000
Nov 21, 2025

Listed (Active)

GSMLS #3999057

$1,700,000
Nov 20, 2025

Listed (Active)

CJMLS #2607798R

$1,700,000
DateEvent & SourcePrice
11/22/2025

Listed (Active)

MOMLS #22535176

$1,700,000
11/21/2025

Listed (Active)

GSMLS #3999057

$1,700,000
11/20/2025

Listed (Active)

CJMLS #2607798R

$1,700,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 40 Prospect Street

Taxable ValueLand$199,800Additions$145,400Total$345,200
Tax Record2024$15,037 ($1,253 / month)
Home Facts
Beds0Total Finished SqFt1,940 SqFtAbove Grade Finished SqFt1,940 SqFtStories2Lot Size13,504 SqFtStyleSingle Family ResidenceYear Built1923ZoningR10CountyUNIONAPN18 03202-0000-00020

Schools near 40 Prospect Street

This home is within Summit Public School District.
Rating
School
Type
Grades
Distance
Public - 1 to 5
Public - 6 to 8
Public - 9 to 12
Public - 1 to 5
Rating
School
Distance
Brayton Elementary School
Public1 to 5

L C Johnson Summit Middle School
Public6 to 8

Summit Sr High School
Public9 to 12

Lincoln Hubbard Elementary School
Public1 to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Neighborhood Map and Transit

Similar Homes

Similar Sold Homes

40 Prospect Street is a single family home for sale in Summit, NJ 07901. This property was listed for sale on November 21, 2025 by EXP REALTY, LLC, it's currently listed at $1,700,000. This listing's school district is Summit Public School District. Nearby schools include Brayton Elementary School, L C Johnson Summit Middle School and Summit Sr High School. 40 Prospect Street is a 3-bed, 2-bath, 1,940 sqft single family home built in 1923.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of EXP REALTY, LLC, SENADA GRAFAS

The data relating to the real estate for sale on this website comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than (insert office name) aremarked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Last date updated: 12/24/2025 07:29 PM. Source: New Jersey Multiple Listing Service, Inc. © 2025 New Jersey Multiple Listing Service, Inc. All rights. The data relating to the real estate for sale and sold listing information on this website comes from the New Jersey Multiple Listing Service, Inc. Virtual Office Website (VOW) program. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Sold listings may have been listed and/or sold by a real estate brokerage other than (insert office name). All information deemed reliable but not guaranteed. NLMLS makes no representation or warranty regarding the accuracy of the data. This data and information is protected under federal copyright laws which prohibit the unauthorized copying or alternation of all or any part of copyrighted materials, including certain compilations of data and information. Copyright violators may be subject to severe fines and penalties under federal law. Source: New Jersey Multiple Listing Service Inc. Last date updated: 12/24/2025 07:29 PM © 2025 New Jersey Multiple Listing Service Inc. All rights reserved.