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$650,000 -$49,999 (-7.14%) Price Reduced

  • For Sale
  • Active
  • Multi-Family
  • 3 Total Beds
  • 1 Car Garage
  • Updated 1 hour ago
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Two family home in Nutley, NJ! situated on a corner lot in a great neighborhood. The main unit features a renovated eat in kitchen with granite countertops and stainless steel appliances, 2 bedrooms and one full bath. This unit also has a finished and renovated basement with a versatile room great for additional living space, plus another full bathroom. The second-floor unit offers one bedroom and one full bathroom, creating an excellent opportunity for rental income. Conveniently located near shopping, restaurants, public transportation, and major commuter routes, this property is ideal for both owner occupants and investors seeking an income producing home in a prime location.

Full Property Details for 242 Prospect St

General

  • Price: $650,000
  • Taxes: $12,234 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: Garden_State
  • MLS ID: 4036989
  • Updated: 8/15/2026
  • Added to Site: 51 day(s) ago

Interior

  • Number of Rooms: 7
  • Interior Features: Carbon Monoxide Detector, Fire Extinguisher, See Remarks, Smoke Detector, Wood Floors

Rooms

Bathrooms

  • Total Bathrooms: 3
  • Full Bathrooms: 3

Bedrooms

  • Total Bedrooms: 3

Exterior

  • Exterior Features: Patio

Parking

  • Garage: Yes
  • Garage Spaces: 1
  • Garage Description: Attached Garage

Location

  • County: Essex
  • Driving Directions: corner of Centre and Prospect Street

Heating & Cooling

  • Cooling Type: Wall A/C Unit(s), Window A/C(s)
  • Heating Type: 2 Units, See Remarks
  • Heating Fuel: Natural Gas
  • Water Heater: Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water
  • Utility Description: All Underground, Electric, Natural Gas

Structural Information

  • Architectural Style: 2-Two Story
  • Exterior Const.: Brick, See Remarks, Vinyl Siding
  • Basement: Yes
  • Basement Desc.: Finished, Full
  • Roof: Asphalt Shingles
  • Year Built: 1954

Unit Information

Unit 1

  • Unit Description: Bedrooms, Eat-In Kitchen, Living Room, Rec Room, See Remarks
  • Square Feet: 1000
  • Levels/Stories: 2
  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 2

  • Unit Description: Bedrooms, Kitchen, Living Room, See Remarks
  • Square Feet: 577
  • Levels/Stories: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Lot Features

  • Lot Size (Acres): 0.1
  • Lot Dimensions: 75 x 65 IRR
  • Driveway/Sidewalk: 2 Car Width
  • Lot Description: Corner

Financial Considerations

  • Assessment Amount: $288,000
  • Land Assmt: $165,300
  • Tax Amount: $12,234
  • Tax Year: 2025

Disclosures and Reports

  • Block: 7603
  • Lot Number: 5

Listed by The Abbasi Agency

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Listing agent

— 242 Prospect St —

  • The Abbasi Agency

201-868-6677

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 242 Prospect St

School District:Nutley Town School District
NameGradesDistance
John H Walker Middle School
325 Franklin Avenue, Nutley, NJ 07110
7-80.3 mi
Lincoln Elementary School, Nutley, NJ
301 Harrison Street, Nutley, NJ 07110
K-60.3 mi
Nutley High School
300 Franklin Avenue, Nutley, NJ 07110
9-120.3 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 242 Prospect St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/15/2026
Price Reduced
$650,000
-7.14%
MLS
6/25/2026
Listed
$699,999
89.19%
MLS
5/06/2014
Sold
$370,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 242 Prospect St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$12,235
5%
$453,300
—
2023
$11,677
-11%
$453,300
—
2022
$13,076
1%
$453,300
34%
2021
$13,008
4%
$338,400
—
2020
$12,460
2%
$338,400
—
2019
$12,209
-5%
$338,400
-8%
2018
$12,864
1%
$366,400
—
2017
$12,725
3%
$366,400
—
2016
$12,348
2%
$366,400
—
2015
$12,150
3%
$366,400
-5%
2013
$11,829
—
$384,900
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by The Abbasi Agency

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242 Prospect St, Nutley, NJ 07110 (MLS# 4036989) is a Multi-Family property with 2 units containing 3 bedrooms and 3 full bathrooms. 242 Prospect St is currently listed for $650,000 and was received on June 25, 2026. Want to learn more about 242 Prospect St? Do you have questions about finding other Multi-Family real estate for sale in Nutley? You can browse all Nutley real estate or contact a Coldwell Banker agent to request more information.

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