40 Prospect St Summit, NJ 07901
Estimated payment $10,328/month
Highlights
- Colonial Architecture
- Attic
- No HOA
- L C Johnson Summit Middle School Rated A+
- 1 Fireplace
- 2 Car Detached Garage
About This Home
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
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $15,037
Year Built
- Built in 1923
Lot Details
- 13,504 Sq Ft Lot
Parking
- 2 Car Detached Garage
Home Design
- Colonial Architecture
- Shingle Roof
Interior Spaces
- 1,940 Sq Ft Home
- 2-Story Property
- 1 Fireplace
- Attic
- Unfinished Basement
Bedrooms and Bathrooms
- 3 Bedrooms
Utilities
- Multiple cooling system units
- Forced Air Heating System
- Natural Gas Water Heater
Community Details
- No Home Owners Association
- Canoe Brook Subdivision
Listing and Financial Details
- Assessor Parcel Number 18-03202-0000-00020
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $15,037 | $345,200 | $199,800 | $145,400 |
| 2024 | $14,937 | $345,200 | $199,800 | $145,400 |
| 2023 | $14,937 | $345,200 | $199,800 | $145,400 |
| 2022 | $14,785 | $345,200 | $199,800 | $145,400 |
| 2021 | $14,902 | $345,200 | $199,800 | $145,400 |
| 2020 | $15,051 | $345,200 | $199,800 | $145,400 |
| 2019 | $15,068 | $345,200 | $199,800 | $145,400 |
| 2018 | $14,971 | $345,200 | $199,800 | $145,400 |
| 2017 | $15,068 | $345,200 | $199,800 | $145,400 |
| 2016 | $14,847 | $345,200 | $199,800 | $145,400 |
| 2015 | $14,557 | $345,200 | $199,800 | $145,400 |
| 2014 | $14,181 | $345,200 | $199,800 | $145,400 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/22/2025 11/22/25 | For Sale | $1,700,000 | -- | $876 / Sq Ft |
Source: MOREMLS (Monmouth Ocean Regional REALTORS®)
MLS Number: 22535176
APN: 18-03202-0000-00020
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Ask me questions while you tour the home.