7 Wallace Rd, Summit, NJ 07901
OFF MARKET

$1,868,500

Trulia Estimate
  • 4 Beds
  • 3.5 Baths
  • 3,408 sqft (on 0.40 acres)

7 Wallace Rd, Summit, NJ 07901

Est. Refi. Payment $13,678/mo*
Refinance Your Home
Currently Off Market - Sold Nov 16, 2006 for $802,500

Home Value

Trulia Estimate
$1.87M
Since last month
Decreased$10K (-0.5%)
Since last year
Increased$313K (+20.3%)
Since last sale
Increased$1M (+130.9%)
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 +65% in the last 10 years
MonthEstimated value
2026
October 2026$1.85M
September 2026$1.88M
August 2026$1.86M
July 2026$1.85M
June 2026$1.9M
May 2026$1.8M
April 2026$1.73M
March 2026$1.66M
February 2026$1.61M
January 2026$1.59M
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
0.45
Single-Family Home
$1,275,000
05/04/26
4
2
2,210
238 Woodland Ave, Summit, NJ
0.37
Single-Family Home
$3,200,000
05/05/26
5
3
2,598
49 Canoe Brook Pkwy, Summit, NJ
0.19
Single-Family Home
$1,150,000
06/19/26
3
3
-
44 Canoe Brook Pkwy, Summit, NJ
0.17
Single-Family Home
$1,810,000
06/04/26
4
3
-
275 WOODLAND AVE, Summit, NJ
0.32
Single-Family Home
$1,655,000
06/15/26
4
3
-
170 Canoe Brook Pkwy, Summit, NJ
0.84
Single-Family Home
$1,500,000
03/19/26
4
2.5
1,739
57 Parrott Mill Rd, Chatham, NJ
0.42
Single-Family Home
$1,420,000
12/01/25
4
3
-
180 Woodland Ave, Summit, NJ
0.56
Single-Family Home
$1,621,500
10/27/25
4
3
-
107 Summit Ave, Chatham, NJ
0.66
Single-Family Home
$408,660
03/09/26
4
2
1,714
127 Butler Pkwy, Summit, NJ
0.47
Single-Family Home
$890,599
05/13/26
3
2
-

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
5 Wallace Rd, Summit, NJ 07901
0.02
$1,012,700
Studio
-
1,514
Off Market
13 Wallace Rd, Summit, NJ 07901
0.02
$1,533,100
4
3
2,445
Off Market
10 Canoe Brook Pkwy, Summit, NJ 07901
0.03
$1,229,000
3
4
2,000
Off Market
14 Canoe Brook Pkwy, Summit, NJ 07901
0.03
$1,150,900
Studio
-
1,671
Off Market
16 Canoe Brook Pkwy, Summit, NJ 07901
0.04
$1,193,800
Studio
-
2,411
Off Market
17 Wallace Rd, Summit, NJ 07901
0.04
$2,127,100
4
5
5,100
Off Market
18 Canoe Brook Pkwy, Summit, NJ 07901
0.05
$1,040,100
Studio
-
2,044
Off Market
20 Canoe Brook Pkwy, Summit, NJ 07901
0.06
$1,310,900
Studio
-
2,941
Off Market
21 Wallace Rd, Summit, NJ 07901
0.06
$1,305,500
4
2.5
2,358
Off Market
9 Canoe Brook Pkwy, Summit, NJ 07901
0.06
$1,276,300
4
2.5
2,306
Off Market
11 Canoe Brook Pkwy, Summit, NJ 07901
0.06
$1,797,700
4
4
2,831
Off Market
15 Canoe Brook Pkwy, Summit, NJ 07901
0.07
$1,557,100
Studio
-
2,545
Off Market
24 Canoe Brook Pkwy, Summit, NJ 07901
0.07
$1,422,500
6
3.5
2,801
Off Market
17 Canoe Brook Pkwy, Summit, NJ 07901
0.07
$1,587,300
4
3
2,420
Off Market
25 Wallace Rd, Summit, NJ 07901
0.08
$1,025,700
Studio
-
1,662
Off Market
21 Canoe Brook Pkwy, Summit, NJ 07901
0.08
$1,194,500
4
2
2,316
Off Market
25 Canoe Brook Pkwy, Summit, NJ 07901
0.10
$1,365,700
Studio
-
2,459
Off Market
2 Rose Ln, Summit, NJ 07901
0.10
$1,575,000
5
4
-
Recently Sold
5 Rose Ln, Summit, NJ 07901
0.11
$1,092,200
3
2
1,781
Off Market
1 Rose Ln, Summit, NJ 07901
0.11
$1,209,100
Studio
-
1,852
Off Market

Local Information

  • Map ViewExplore the area around 7 Wallace Rd.
  • Schools1 Preschool School2 Elementary Schools1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 1954
0.4 acre lot
3,408 sqft
$548/sqft
Garage

About this House

This single-family home is located at 7 Wallace Rd, Summit, NJ. 7 Wallace Rd is in Summit, NJ and in ZIP code 07901. This property has 4 bedrooms, 4 bathrooms and approximately 3,408 sqft of floor space. This property has a lot size of 0.40 acres and was built in 1954.
7 Wallace Rd, Summit, NJ 07901 is a 4 bedroom, 4 bathroom, 3,408 sqft single-family home built in 1954. It last sold for $802,500 on Nov 16, 2006. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $1,868,500, with a rent estimate of $7,494/month.

Home Details for 7 Wallace Rd

Interior Features

Interior Details
BasementAtticNumber of Rooms: 11Types of Rooms: Walk In Closet, Breakfast Nook, Dining Room, Family Room, Laundry Room, Master Bath, Office, Pantry, Recreation RoomWet Bar
Heating & Cooling
Heating: Forced Air, GasAir ConditioningCooling System: CentralHeating Fuel: Forced Air
Levels, Entrance, & Accessibility
Stories: 2Floors: Tile, Other, Carpet, Hardwood
Appliances & Utilities
Cable ReadyDishwasherDisposalDryerMicrowaveRefrigeratorWasher
Fireplace & Spa
FireplaceJetted Bath Tub
Windows, Doors, Floors & Walls
Double Paned Windows
Security
Security System

Exterior Features

Exterior Home Features
Roof: AsphaltDeckExterior: VinylLawnPorch
Parking & Garage
GarageParking Spaces: 2Parking: Garage Attached, Off Street

Property Information

Year Built
Year Built: 1954
Property Type / Style
Property Type: Single Family HomeArchitecture: Colonial

Community

Units in Building: 1

Lot Information

Lot Area: 0.40 acres

Price and Tax history

DateEventPrice
Nov 16, 2006
Source: N/A
Sold
$802,500
Feb 28, 1995
Source: N/A
Sold
$245,000
Sep 2, 1994
Source: N/A
Sold
$270,000

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

Around this home

What Locals Say about Summit

This October

Trick-or-Treat Score

Built from what locals say about this neighborhood.
  • 82% say there's holiday spirit
  • 70% say there are sidewalks
  • 61% say there are community events
Trulia Trick or TreatStart Ghost Hunt
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

LGBTQ Local Legal Protections

Frequently asked questions about 7 Wallace Rd

  • What is 7 Wallace Rd estimated to be worth?
    Trulia's estimated value for 7 Wallace Rd in Summit, NJ is $1,868,500.
  • What is the price history for 7 Wallace Rd?
    7 Wallace Rd in Summit, NJ last sold for $802,500 in November 2006.
  • Is Summit a buyer's or seller's market?
    Summit is currently a seller's market, based on recent for-sale activity.
  • What do residents say about Summit?
    Residents describe Summit, NJ as dog-friendly, walkable to restaurants, and well-kept. See recently sold homes in Summit, NJ.
  • Does 7 Wallace Rd have air conditioning?
    Yes, 7 Wallace Rd in Summit, NJ has air conditioning.
  • Does 7 Wallace Rd have laundry facilities?
    Yes, 7 Wallace Rd in Summit, NJ has in-unit laundry.

Explore by feature - Pet Friendly

11 pet-friendly rentals in Summit, NJ

Explore by feature - Garage

16 rentals with a garage in Summit, NJ

Explore by feature - Air Conditioning

28 rentals with air conditioning in Summit, NJ

Explore by feature - Washer/dryer

36 rentals with a washer/dryer in Summit, NJ

Explore by feature - Outdoor Space

6 rentals with an outdoor space in Summit, NJ

Apartments for Rent

Skip to last item
Skip to first item

Off Market Homes Near 7 Wallace Rd

Skip to last item
Skip to first item

Homes for sale near 7 Wallace Rd

Skip to last item
Skip to first item
Skip to last item
  • Results are loading
Skip to first item