5 Wallace Rd, Summit, NJ 07901
OFF MARKET

5 Wallace Rd
Summit, NJ 07901

  • Studio
  • 1,514 sqft (on 0.29 acres)

$997,800

Trulia Estimate
as of Aug 14, 2026
Est. Refi. Payment $6,846/mo*
Refinance Your Home

$997,800

Trulia Estimate
as of Aug 14, 2026
Est. Refi. Payment $6,846/mo*
Refinance Your Home
Studio
1,514 sqft
(on 0.29 acres)

Home Value

Trulia Estimate
$998K
Since last month
Decreased$54K (-5.2%)
Since last year
Increased$116K (+13.3%)
Since last sale
Increased$778K (+370.6%)
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 +57% in the last 10 years
MonthEstimated value
2026
August 2026$988K
July 2026$1.02M
June 2026$1.04M
May 2026$946K
April 2026$903K
March 2026$894K
February 2026$845K
January 2026$881K
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
91 Canoe Brook Pkwy, Summit, NJ
0.47
Single-Family Home
$1,275,000
05/04/26
4
2
2,210
107 Summit Ave, Chatham, NJ
0.67
Single-Family Home
$408,660
03/09/26
4
2
1,714
10 Lewis Ave, Summit, NJ
0.60
Single-Family Home
$695,100
01/07/26
2
2
1,384
238 Woodland Ave, Summit, NJ
0.38
Single-Family Home
$3,200,000
05/05/26
5
3
2,598
176 Woodland Ave, Summit, NJ
0.60
Single-Family Home
$1,400,000
04/07/26
-
1,980
31 Miele Pl, Summit, NJ
0.71
Single-Family Home
$650,000
09/17/25
-
1,264
116 N Passaic Ave, Chatham, NJ
0.89
Single-Family Home
$810,000
03/12/26
-
1,373
49 Canoe Brook Pkwy, Summit, NJ
0.21
Single-Family Home
$1,150,000
06/19/26
3
3
-
170 Canoe Brook Pkwy, Summit, NJ
0.86
Single-Family Home
$1,500,000
03/19/26
4
2.5
1,739
12 Weston Ave, Chatham, NJ
0.78
Single-Family Home
$725,000
04/14/26
-
3,254

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
2 Rose Ln, Summit, NJ 07901
0.12
$1,575,000
5
4
-
Recently Sold
44 Canoe Brook Pkwy, Summit, NJ 07901
0.19
$1,810,000
4
3
-
Recently Sold
49 Canoe Brook Pkwy, Summit, NJ 07901
0.21
$1,150,000
3
3
-
Recently Sold
47 Canoe Brook Pkwy, Summit, NJ 07901
0.21
$1,580,000
3
3
-
Recently Sold
55 Canoe Brook Pkwy, Summit, NJ 07901
0.24
$1,261,100
3
3
-
Off Market
11 Iris Rd, Summit, NJ 07901
0.28
$1,065,000
3
2
-
Off Market
20 Iris Rd, Summit, NJ 07901
0.28
$763,200
2
1
-
Off Market
21 Iris Rd, Summit, NJ 07901
0.29
$689,800
3
1
-
Off Market
70 Canoe Brook Pkwy, Summit, NJ 07901
0.32
$1,510,000
3
3
-
Recently Sold
265 Woodland Ave, Summit, NJ 07901
0.33
$1,503,100
4
3
-
Off Market
273 Woodland Ave, Summit, NJ 07901
0.33
$1,703,900
4
3
-
Off Market
275 WOODLAND AVE, Summit, NJ 07901
0.33
$1,655,000
4
3
-
Recently Sold

Local Information

  • Map ViewExplore the area around 5 Wallace Rd.
-- mins to
Commute Destination

Home Highlights

Property Type
Single-Family Home
Year Built
1935
Lot Size
0.29 acres
Living Area
1,514 sqft
Price/Sqft
$659
Parking
Garage

About this House

This single-family home is located at 5 Wallace Rd, Summit, NJ. 5 Wallace Rd is in Summit, NJ and in ZIP code 07901. This property has approximately 1,514 sqft of floor space. This property has a lot size of 0.29 acres and was built in 1935.
5 Wallace Rd, Summit, NJ 07901 is a studio, 1,514 sqft single-family home built in 1935. It last sold for $210,000 on Sep 27, 1988. It is currently off market. The Trulia Estimate is $997,800, with a rent estimate of $6,264/month.

Home Details for 5 Wallace Rd

Interior Features

Levels, Entrance, & Accessibility
Stories: 1.5

Property Information

Year Built
Year Built: 1935
Property Type / Style
Property Type: Single Family Home

Exterior Features

Exterior Home Features
Exterior: Wood
Parking & Garage
GarageParking: Garage Attached

Community

Units in Building: 1

Lot Information

Lot Area: 0.29 acres

Price and Tax history

DateEventPrice
Sep 27, 1988
Source: N/A
Sold
$210,000

Market trends in Summit

Last updated July 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$1.49M
$193KMoM
Sale-to-List Price
—
Price per sq ft
$719
Available listings
33
5MoM
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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

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Apartments for Rent

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Explore by feature - Pet Friendly

12 pet-friendly rentals in Summit, NJ

Explore by feature - Garage

19 rentals with a garage in Summit, NJ

Explore by feature - Air Conditioning

33 rentals with air conditioning in Summit, NJ

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29 rentals with a washer/dryer in Summit, NJ

Homes for sale near 5 Wallace Rd

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Off Market Homes Near 5 Wallace Rd

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Frequently asked questions about 5 Wallace Rd

  • What is 5 Wallace Rd estimated to be worth?
    Trulia's estimated value for 5 Wallace Rd in Summit, NJ is $997,800.
  • What is the price history for 5 Wallace Rd?
    5 Wallace Rd in Summit, NJ last sold for $210,000 in September 1988.
  • Is Summit a buyer's or seller's market?
    Summit is currently a seller's market, based on recent for-sale activity.
  • What's the median sale price in Summit?
    The median sale price in Summit is $1.49M. That is up $193K from the prior month.
  • How big is the lot at 5 Wallace Rd?
    The lot at 5 Wallace Rd in Summit, NJ is about 0.29 acres (12,750 sq ft).
  • Does 5 Wallace Rd have a garage?
    Yes, 5 Wallace Rd in Summit, NJ has a garage.