40 Prospect St, Summit, NJ 07901
Property image
Property image
UNDER CONTRACT
3D VIEW
0.31 ACRES

$1,700,000

  • 3 Beds
  • 1.5 Baths
  • 1,940 sqft (on 0.31 acres)

40 Prospect St, Summit, NJ 07901

Est. Mortgage $12,064/mo*
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Home Highlights

Single-Family Home
Built in 1923
0.31 acre lot
$876/sqft
Garage

Local Information

  • Map ViewExplore the area around 40 Prospect St.
  • Schools1 Preschool School2 Elementary Schools1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

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
Last check for updates: about 9 hours ago
Listing courtesy of SENADA GRAFAS, (646) 512-2926
EXP REALTY, LLC
Source: All Jersey MLS, MLS#2607798R
Also Listed on GSMLS, MoreMLS, All Jersey MLS, GSMLS, MoreMLS, eXp Realty, eXp Realty.

Home Details for 40 Prospect St

Interior Features

Interior Details
Basement: Full, Daylight, Storage Space, Laundry FacilitiesNumber of Rooms: 7Types of Rooms: Dining Room, Kitchen, Basement
Beds & Baths
Number of Bedrooms: 3Number of Bathrooms: 2Number of Bathrooms (full): 1Number of Bathrooms (half): 1
Dimensions and Layout
Living Area: 1940 Square Feet
Appliances & Utilities
Utilities: Electricity Connected, Natural Gas ConnectedAppliances: Dishwasher, Dryer, Electric Range/Oven, Microwave, Refrigerator, Range, Washer, Gas Water HeaterDishwasherDryerMicrowaveRefrigeratorWasher
Heating & Cooling
Heating: Baseboard, Radiant, Baseboard HotwaterHas CoolingAir Conditioning: Wall Unit(s), Window Unit(s)Has HeatingHeating Fuel: Baseboard
Fireplace & Spa
No Fireplace
Gas & Electric
Gas: Natural GasHas Electric on Property
Windows, Doors, Floors & Walls
Flooring: Carpet, Ceramic Tile, Wood
Levels, Entrance, & Accessibility
Stories: 2Number of Stories: 2Levels: TwoFloors: Carpet, Ceramic Tile, Wood

Exterior Features

Exterior Home Features
Roof: AsphaltPatio / Porch: DeckExterior: Deck
Parking & Garage
Number of Garage Spaces: 2Number of Covered Spaces: 2No CarportHas a GarageNo Attached GarageHas Open ParkingParking Spaces: 2Parking: 1 Car Width, Garage, Detached
Water & Sewer
Sewer: Public Sewer

Days on Market

Days on Market: 180+

Property Information

Year Built
Year Built: 1923
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family ResidenceArchitecture: Colonial
Building
Not Attached Property
Property Information
Parcel Number: 1803202000000020

Price & Status

Price
List Price: $1,700,000Price Per Sqft: $876

Active Status

MLS Status: Under Contract

Media

Location

Direction & Address
City: Summit

Agent Information

Listing Agent
Listing ID: 2607798R

Building

Building Area
Building Area: 1940 Square Feet

Community

Not Senior Community

HOA

HOA Fee Frequency (second): MonthlyHOA Fee: No HOA Fee

Lot Information

Lot Area: 0.31 acres

Business

Business Information
Ownership: Fee Simple

Miscellaneous

BasementMls Number: 2607798RZillow Contingency Status: Under Contract

Around this home

What Locals Say about Summit

At least 243 Trulia users voted on each feature.

  • 91 % Say it's dog friendly

  • 82 % Say people would walk alone at night

  • 82 % Say there's holiday spirit

  • 79 % Say car is needed

  • 76 % Say it's walkable to restaurants

  • 75 % Say kids play outside

  • 74 % Say yards are well-kept

  • 73 % Say parking is easy

  • 71 % Say it's quiet

  • 70 % Say there are sidewalks

  • 66 % Say they plan to stay for at least 5 years

  • 62 % Say streets are well-lit

  • 61 % Say there's wildlife

  • 61 % Say there are community events

  • 58 % Say neighbors are friendly

  • 42 % Say it's walkable to grocery stores

Sourced by Trulia users. Learn more about our methodology.
  • Sfeoli34
    "There are alot of couples with young children so its nice if you have a family or starting one. Its a dog friendly neighborhood and we do block parties etc.. Yet its pretty quiet. Park near bye. "
    1
    Flag
  • Elliotwilbur
    "Great place to raise a family. Public school system is excellent. Numerous commuting options to Manhattan. "
    1
    Flag
  • maria08827
    "It’s very nice, clean and safe . Everyone is nice and friendly! It has a beautiful safe park across the street which is very clean and active. Also close to everything!"
    1
    Flag
  • Anita
    "Summit is a charming town where practical meets comfort. The community is friendly and diverse. Lots of families, singles and dogs. "
    8
    Flag
  • Davidthompsonjr
    "Easy ride to train station and best commuter line in nj. Penn station is crappy but if you can do ferry from hoboken it’s nice."
    2
    Flag
  • Pololas2019
    "the people walk the dogs and is a really nice neighborhood to live i recommended to buy a house in this area "
    1
    Flag
  • Unspecified
    "People take pride in their homes. Family friendly. Very safe. Lived here for 2 years, so happy with the community. "
    1
    Flag
  • Davidthompsonjr
    "Nice town, ppl, and amenities. Great schools and good place to raise your kids. Express trains to the city, makes a difference relative to other areas in nj. "
    0
    Flag
  • Davidthompsonjr
    "Great town to raise a family. Close to best nj commute. Good restaurants in town. Good access to highways. "
    2
    Flag
  • Marcelo N.
    "I love summit best city to live in, respectful people, clean , no crime , no racism or classism . Just a wonderful city"
    0
    Flag
  • Mary T. Z.
    "Street Fairs are very nice in this town. The farmers market is great too! Events at the playhouse are wonderful."
    3
    Flag
  • Randall.lauren
    "This is a very family friendly neighborhood. The restaurants, coffee shops, parks and other amenities are all well suited to families. "
    3
    Flag
  • Samantha Q.
    "We have festivals, block parties, concerts and movie nights in the park. Our neighbors are always outside going for walks, our kids always find other kids to play with!"
    2
    Flag
  • Slong0717
    "Bike parades, kids events. Amazing downtown area. Lots of activities for kids. Easy to commute to NYC. "
    2
    Flag
  • Scott H.
    "There are a lot of dogs around and most are friendly. I wish there was a space for them to run off lead. "
    2
    Flag
  • Rehav
    "less than 10 mins walk to train that goes right to nyc. 3 min drive to get onto Routes 24 and 78. Cant be beat!!"
    2
    Flag
  • EF
    "Lots of friendly dogs and owners to walk with. Park nearby. Quiet streets. Fun dog store in downtown summit. "
    0
    Flag
  • Melissa C.
    "what dog owners like about his neighborhood would be that the doggies would meet other doggies and get along quite nicely and the backyards very spacious "
    0
    Flag
  • Thayesmail
    "Great family neighborhood. Great schools. Great recreation program. Convenient commute to NYC & Airport. "
    0
    Flag
  • layton m.
    "Great, direct line into New York City makes it a quick, convenient and easy commute. I think it’s the best commute into nyc in New Jersey"
    4
    Flag
  • Jhuneke
    "We are in a surprisingly quiet block, despite being on a major thoroughfare, and close to downtown, train station. "
    1
    Flag
  • Laura
    "It’s safe, clean and easy commute to the city, mountains or beach. Very centrally locates. Love it here. Just wish it wasn’t so expensive in this area!!"
    2
    Flag
  • Samantha H.
    "Kind people who are always willing to help each other. Access to fields, train, and walking to downtown. Kids all walk to school. "
    0
    Flag

Market trends in Summit

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
27
6MoM

Home Value

Trulia Estimate
$1.6M
Since last month
Decreased$7K (-0.4%)
Since last year
Increased$397K (+33.2%)
Since last sale
Decreased$1M (-46.8%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value increased by +70% in the last 10 years
MonthEstimated value
2026
September 2026$1.59M
August 2026$1.6M
July 2026$1.6M
June 2026$1.6M
May 2026$1.6M
April 2026$1.58M
March 2026$1.58M
February 2026$1.59M
January 2026$1.57M
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
49 Oakland Pl, Summit, NJ
0.10
Single-Family Home
$1,852,000
12/15/25
4
4
-
42 Locust Dr, Summit, NJ
0.23
Single-Family Home
$1,652,000
07/28/26
4
2
-
64 Tulip St, Summit, NJ
0.15
Single-Family Home
$1,089,000
04/24/26
2
2
-
61 TULIP STREET, Summit, NJ
0.14
Single-Family Home
$2,100,000
05/15/26
5
4
-
32 Locust Dr, Summit, NJ
0.20
Single-Family Home
$1,350,000
12/03/25
4
3
-
34 Ashland Rd, Summit, NJ
0.20
Single-Family Home
$1,750,000
12/01/25
4
4
-
100 LARNED RD, Summit, NJ
0.53
Single-Family Home
$3,200,000
11/05/25
4
6
-

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
32 PROSPECT ST, Summit, NJ 07901
0.02
$2,134,200
4
6
-
Off Market
109 Maple St, Summit, NJ 07901
0.07
$2,719,700
5
4
-
Off Market
49 Oakland Pl, Summit, NJ 07901
0.10
$1,852,000
4
4
-
Recently Sold
50 Oakland Pl, Summit, NJ 07901
0.11
$2,116,700
5
3
-
Off Market
115 MAPLE STREET, Summit, NJ 07901
0.13
$2,687,300
5
5
-
Off Market
51 Tulip St, Summit, NJ 07901
0.12
$1,552,600
3
3
-
Off Market
30 Tulip St, Summit, NJ 07901
0.14
$2,056,000
5
4
-
Off Market
61 TULIP STREET, Summit, NJ 07901
0.14
$2,100,000
5
4
-
Recently Sold
64 Tulip St, Summit, NJ 07901
0.15
$1,089,000
2
2
-
Recently Sold
63 Tulip St, Summit, NJ 07901
0.15
$1,532,300
4
2
-
Off Market
56-B TROY DR BLDG 20 #56 B, Summit, NJ 07901
0.16
$1,032,900
3
2
-
Off Market
50 LINDEN PL, Summit, NJ 07901
0.17
$1,470,500
4
3
-
Off Market

Price and Tax history

DateEventPrice
Jul 20, 2026
Source: All Jersey MLS #2607798R
Contingent
$1,700,000
Jul 20, 2026
Source: MoreMLS #22535176
Pending
$1,700,000
Nov 22, 2025
Source: MoreMLS #22535176
Listed For Sale
$1,700,000
Aug 22, 2000
Source: N/A
Sold
$3,000,000

LGBTQ Local Legal Protections

SENADA GRAFAS, EXP REALTY, LLC
Agent Phone: (646) 512-2926
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. Copyright 2026, CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC All rights reserved The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC retains all rights, title and interest in and to its trademarks, service marks and copyrighted material. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting.

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Frequently asked questions about 40 Prospect St

  • What is the estimated monthly payment for 40 Prospect St?
    Based on a $1,700,000 list price with 20% down at today's rates, the estimated monthly payment for 40 Prospect St in Summit, NJ is approximately $12,275 (about $9,296 principal & interest, $2,904 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
  • What do residents say about Summit?
    Residents describe Summit, NJ as dog-friendly, walkable to restaurants, and well-kept. See homes for sale in Summit, NJ.
  • What are the closest schools to 40 Prospect St?
    The closest schools to 40 Prospect St in Summit, NJ are Brayton Elementary School (rated 10/10), Jefferson Primary Center (Pre-K), L C Johnson Summit Middle School (rated 8/10).
  • What is 40 Prospect St estimated to be worth?
    Trulia's estimated value for 40 Prospect St in Summit, NJ is $1,601,300.
  • Does 40 Prospect St have air conditioning?
    Yes, 40 Prospect St in Summit, NJ has air conditioning.
  • Does 40 Prospect St have laundry facilities?
    Yes, 40 Prospect St in Summit, NJ has in-unit laundry.
40 Prospect St, Summit, NJ 07901 is a 3 bedroom, 2 bathroom, 1,940 sqft single-family home built in 1923. This property is currently available for sale and was listed by All Jersey MLS on Nov 22, 2025. The MLS # for this home is MLS# 2607798R.