$1,700,000
PENDING

40 Prospect St Summit, NJ 07901

Summit Area

Estimated payment $10,615/month

Total Views 71,522
3 Beds
1.5 Baths
1,940 Sq Ft
$876 Price per Sq Ft

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

Listing Agent

Senada Grafas

EXP Realty License #2324486 Listed on: 11/22/2025

EXP Realty

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

Home Details

Home Type

Single Family

Est. Annual Taxes

$15,037

Year Built

Built in 1923

Lot Details

0.31 Acres

Parking

2

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Subdivision Name: Canoe Brook
  • Architectural Style: Detached, Colonial
  • Reso Interior Features: Attic
  • Year Built: 1923
  • Contract Info List PriceSqFt: 876.29
  • General Property Info Waterview: No
  • General Property Info Fireplace: Yes
  • General Property Info Basement: Yes
  • General Property Info HOA: No
  • General Property Info Pool: No
  • WaterSewer Public Sewer: Yes
  • General Property Info Acreage: 0.31
  • Roof Shingled: Yes
  • Water Heater Natural Gas2: Yes
  • General Property Info # Fireplaces: 1.0
  • Interior Attic: Yes
  • Cooling Multi Units: Yes
  • SourceMLSURL: https://sourcemls.org/api/v1/eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJTb3VyY2VTeXN0ZW1JRCI6Ik0wMDAwMDQ1MiIsIkxpc3RpbmdJRCI6IjIyNTM1MTc2IiwiU3RhbmRhcmRTdGF0dXMiOiJQZW5kaW5nIiwiTW9kaWZpY2F0aW9uVGltZXN0YW1wIjoiMjAyNi0wNy0yMFQyMDo0NDowNS4wMDBaIiwiTGljZW5zZWVJRCI6Im9hdXRoMl8xODM2NCIsIkxpY2Vuc2VlTmFtZSI6IlRlbi1YIn0.UAwn-CiyRuXOxmh81MLdE3TAfHTZa6-g-7gLNNULnN8/badge
  • Special Features: None

Interior Features

  • Basement: Unfinished
  • Basement: Yes
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Total Bedrooms: 3
  • Stories: 2
  • Basement:Unfinished: Yes

Exterior Features

  • Roof: Shingle
  • Acres: 0.31
  • Waterfront: No
  • Exterior Features: Other

Garage/Parking

  • Garage: Yes
  • Garage Spaces: 2.0
  • General Property Info:Garage: Yes
  • Parking Features:Garage Detached: Yes

Utilities

  • Sewer: Public Sewer
  • Cooling: Multi Units
  • Cooling Y N: Yes
  • Heating: Forced Air
  • HeatingYN: Yes
  • Heating:Forced Air: Yes

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size Sq Ft: 13503.6
  • ResoLotSizeUnits: Acres
  • Parcel #: 18-03202-0000-00020

Tax Info

  • Tax Year: 2024
  • Tax Annual Amount: 15037.0

Map

Range of Values:

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Value Increase
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $15,434 $345,200 $199,800 $145,400
2025 $15,434 $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
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
07/17/2026 07/17/26 Pending -- -- --
11/22/2025 11/22/25 For Sale $1,700,000 -- $876 / Sq Ft
Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

MLS Number: 22535176

MOREMLS (Monmouth Ocean Regional REALTORS®)

APN: 18-03202-0000-00020

New Jersey Union County Summit 07901

40 Prospect St, Summit, NJ

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MOREMLS (Monmouth Ocean Regional REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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Listing Agent
Senada Grafas
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EXP Realty
(908) 895-5837
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