Date
Details
Price
Change
Source
11/21/2025
Listed
$1,700,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/17
$1,700,000
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1/17
Property Description
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
Full Property Details
Full Property Details for 40 Prospect St
General
- Price: $1,700,000
- Taxes: $15,037 (2024)
- Status: Under Contract
- Type: Single Family
- Source: Middlesex
- MLS ID: 2607798R
- Updated: 7/20/2026
- Added to Site: 280 day(s) ago
Interior
- Interior Features: Entrance Foyer, Kitchen, Bath Half, Living Room, Den, Dining Room, 1 Bedroom, 2 Bedrooms, 3 Bedrooms, Bath Full, None
- Appliances: Dishwasher, Dryer, Electric Range/Oven, Microwave, Refrigerator, Range, Washer, Gas Water Heater
- Flooring: Carpet, Ceramic Tile, Wood
Rooms
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 1
- Half Bathrooms: 1
Bedrooms
- Total Bedrooms: 3
Other Rooms
- Living Room: 1,940 Sq. Ft.
Exterior
- Exterior Features: Deck
- Deck/Patio: Deck
Parking
- Garage: Yes
- Garage Spaces: 2
- Parking Features: 1 Car Width, Garage, Detached
- Parking: 1 Car Width, Garage, Detached
Location
- County: Union
Heating & Cooling
- Cooling Type: Wall Unit(s), Window Unit(s)
- Heating Type: Baseboard, Radiant, Baseboard Hotwater
Utilities
- Gas: Natural Gas
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Connected, Natural Gas Connected
Structural Information
- Architectural Style: Colonial
- Basement Desc.: Full, Daylight, Storage Space, Laundry Facilities
- Roof: Asphalt
- Stories/Levels: 2
- Square Feet: 1,940
- Year Built: 1923
Lot Features
- Lot Size (Acres): 0.31
- Lot Size (Sq. Ft.): 13,504
- Lot Dimensions: 0.00 x 0.00
- Lot Features: See Remarks
- Lot Description: See Remarks
Financial Considerations
- Tax Amount: $15,037
- Tax Year: 2024
Disclosures and Reports
- Property ID: 1803202000000020
Listed by Exp Realty, Llc
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Listing agent
— 40 Prospect St —
Exp Realty, Llc
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 40 Prospect St
School District:Summit City School District
| Name | Grades | Distance |
|---|---|---|
L C Johnson Summit Middle School 272 Morris Avenue, Summit, NJ 07901 | 6-8 | 0.2 mi |
Summit Sr High School 125 Kent Place Boulevard, Summit, NJ 07901 | 9-12 | 0.7 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 40 Prospect St
Tax History
Tax History for 40 Prospect St
Year
Property Taxes
Change
Tax Assessment
Change
2025
$15,434
3%
$345,200
—
2023
$14,937
1%
$345,200
—
2022
$14,785
-1%
$345,200
—
2021
$14,902
-1%
$345,200
—
2020
$15,051
1%
$345,200
—
2018
$14,971
-1%
$345,200
—
2017
$15,068
1%
$345,200
—
2016
$14,847
2%
$345,200
—
2015
$14,557
-3%
$345,200
—
2019
$15,068
7%
$345,200
—
2013
$14,022
—
$345,200
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 40 Prospect St
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40 Prospect Street, Summit, NJ 07901 (MLS# 2607798R) is a Single Family property with 3 bedrooms and 1 full bathroom. 40 Prospect Street is currently listed for $1,700,000 and was received on November 21, 2025. Want to learn more about 40 Prospect Street? Do you have questions about finding other Single Family real estate for sale in Summit? You can browse all Summit real estate or contact a Coldwell Banker agent to request more information.