40 Prospect Street, Summit, NJ 07901

$1,700,000

Property Type: Residential Bedrooms: 3 Baths: 1.1 Square Footage: 1,940 Lot Size (sq. ft.): 13,504 Status: Active

Current Price: $1,700,000 List Date: 11/22/2025 Last Modified: 11/23/2025

Overview

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 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 Details MLS# 22535176

Contract Info

List Price/SqFt: 876.29
Property Sub-Type: Single Family Residence
Sub-Type: Detached

Location

House Number: 40
Street Name: Prospect
Street Suffix: Street
County: Union
Municipality: Summit (SUM)
Postal City: Summit
State: NJ
Zip Code: 07901
Area/Section: None
Complex/Subdivision: Canoe Brook
Directions: Use GPS

General Property Info

Full Baths: Yes
Half Baths: Yes
Total Baths: 1.1
Fireplace: Yes
# Fireplaces: Yes
Apx SqFt: 1940
# Levels: 2
Apx Year Built: 1923
Garage: Yes
# Car Garage: 2
Acreage: 0.31
HOA: No
Pool: No
Waterfront: No
Waterview: No
Rooms: 7
Basement: Yes

Tax and Legal

Asmnt - Total: 345200
Taxes: 15037
Tax Year: 2024

Ownership Type

Fee Simple: Yes

Style

Colonial: Yes

More Information

Interior

Attic: Yes

Showing

Showing Time: Yes

Water/Sewer

Public Sewer: Yes

Basement

Unfinished: Yes

Cooling

Multi Units: Yes

Water Heater

Natural Gas: Yes

Heating

Forced Air: Yes

Exterior

Other: Yes

Garage

Detached: Yes

Assessment Status

Assessed: Yes

Roof

Shingle: Yes

Property Features

Ownership Type: Fee Simple Style: Colonial Interior: Attic Basement: Unfinished Cooling: Multi Units Heating: Forced Air Water Heater: Natural Gas Exterior: Other Garage: Detached Roof: Shingle Assessment Status: Assessed Showing: Showing Time

Listing Office: EXP Realty

Listing Agent: Senada Grafas

Last Updated: November - 23 - 2025

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Monmouth Ocean Regional REALTORS®, and site contains live data. IDX information is provided exclusively 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.