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
- MLS# 22535176
- Date Listed11/22/2025
- Days on Realty 2 Days
- Bedrooms 3
- Bathrooms 1 Full baths, 1 Half baths
- Lot Size 0.31 acres (13,504 sq. ft)
- Sewer Public Sewer
- Subdivision Canoe Brook
- County Union
- Year Built 1923
- Square Feet 1,940 sq. ft
- Price Per Sq. Ft $876.29
Interior Features
- Cooling Multi Units
- Heating Forced Air
Exterior / Lot Features
- Exterior Other
- Roof Shingle
- Lot Size Acres 0.31
- Lot Size SQFT 13,503.60
- Lot Features -
Directions
Use GPS
Financial Considerations
- Tax Amount $15,037
- Terms Cash, Conventional, FHA, VA Loan
Nearby Schools
Source: School Digger
Public • 1 - 5 • Serves this home
0.29 mi
Distance
L.c. Johnson Summit Middle School
Public • 6 - 8 • Serves this home
0.29 mi
Distance
Public • 9 - 12 • Serves this home
0.77 mi
Distance
Public • 1 - 5 • Serves this home
0.29 mi
Distance
Lincoln-hubbard Elementary School
Public • 1 - 5
0.66 mi
Distance
Public • PK - KG
0.9 mi
Distance
Public • 1 - 5
0.9 mi
Distance
Public • 1 - 5
1.12 mi
Distance
Summit Primary Center At Wilson
Public • PK - KG
1.12 mi
Distance
Public • 1 - 5
1.55 mi
Distance
Edward V. Walton Elementary School
Public • PK - 2
2.93 mi
Distance
Milton Avenue Elementary School
Public • PK - 3
3.4 mi
Distance
Public • PK - 8
3.57 mi
Distance
L.c. Johnson Summit Middle School
Public • 6 - 8 • Serves this home
0.29 mi
Distance
Developemental Learning Center New Providence
Public • 3 - 12
2.07 mi
Distance
Public • 4 - 5
2.83 mi
Distance
Public • 6 - 8
2.93 mi
Distance
Public • 3 - 8
2.96 mi
Distance
Florence M. Gaudineer Middle School
Public • 6 - 8
3.04 mi
Distance
Public • 7 - 8
3.25 mi
Distance
Thelma L. Sandmeier Elementary School
Public • 3 - 5
3.45 mi
Distance
James Caldwell Elementary School
Public • 3 - 5
3.5 mi
Distance
Public • 5 - 5
3.54 mi
Distance
Public • 9 - 12 • Serves this home
0.77 mi
Distance
Public • 9 - 12
2.83 mi
Distance
Public • 9 - 12
2.84 mi
Distance
Public • 9 - 12
2.9 mi
Distance
Public • 9 - 12
3.25 mi
Distance
Governor Livingston High School
Public • 9 - 12
5.24 mi
Distance
Public • 9 - 12
5.44 mi
Distance
Public • 9 - 12
5.56 mi
Distance
Scotch Plains Fanwood High School
Public • 9 - 12
5.69 mi
Distance
Public • 9 - 12
5.74 mi
Distance
Oak Knoll School Of The Holy Child - Upper School
Private • KG - 12
0.45 mi
Distance
Private • PK - 12
0.66 mi
Distance
Oratory Catholic Preparatory School
Private • 07 - 12
0.77 mi
Distance
Private • UG - UG
2.93 mi
Distance
Private • PK - UG
3.21 mi
Distance
Private • 05 - 12
5.2 mi
Distance
Private • UG - UG
5.56 mi
Distance
Private • PK - 12
5.81 mi
Distance
Private • 06 - 12
5.81 mi
Distance
Mount St. Mary Academy High School
Private • 09 - 12
6.22 mi
Distance
Sales & Tax History
Source: Public Records
| Street Address | Beds | Baths | Sold Date | List Price | Valuation Date | Valuation Price |
|---|---|---|---|---|---|---|
| 24 MORRIS AVE | Listing | 3 | 0 | Oct 20, 2025 | $490,000 | Mar 15, 2024 | $552,000 |
| 21 Webster Ave | 3 | 0 | Sep 25, 2025 | $775,000 | Nov 24, 2025 | - |
| 62 Cambridge Dr | 5 | 0 | Nov 09, 2025 | $2,650,000 | Nov 24, 2025 | - |
| 30 Kendrick Rd | 3 | 0 | Sep 27, 2025 | $849,000 | Nov 24, 2025 | - |
| 2 Rose Ln | 3 | 0 | Sep 25, 2025 | $650,000 | Nov 24, 2025 | - |
| 10 Henry St | 2 | 0 | Oct 17, 2025 | $649,000 | Nov 24, 2025 | - |
| 81 Mountain Ave | 4 | 0 | Oct 03, 2025 | $1,150,000 | Nov 24, 2025 | - |
| 45 Montrose Ave | 3 | 0 | Oct 02, 2025 | $925,000 | Nov 24, 2025 | - |
| 75 Green Hill Rd | 5 | 0 | Oct 11, 2025 | $910,000 | Nov 24, 2025 | - |
| 9 Lavina Ct | 4 | 0 | Oct 05, 2025 | $850,000 | Nov 24, 2025 | - |
Population & Environment
Source: Sperling's Best Places
| Zip | City | County | National | |
|---|---|---|---|---|
| Population | 23,993 | 22,319 | 579,246 | 335,858,263 |
| Population Density | 3,801 | 3,734 | 5,632 | 95 |
| People per Household | 2.7 | 2.8 | 2.8 | 2.6 |
| Median Age | 42.4 | 42.3 | 40.2 | 39.1 |
| Median Income | $165,880 | $164,907 | $83,669 | $66,222 |
| Average Income | $94,723 | $94,307 | $42,955 | $35,475 |
| Cost of Living Index | 135 | 136 | 122 | 100 |
| Zip | City | County | National | |
|---|---|---|---|---|
| January Avg. High Temp | 18.2°F | 18.2°F | 19.8°F | 22.6°F |
| July Avg. High Temp | 85.8°F | 85.8°F | 85.7°F | 86.2°F |
| Annual Precipitation | 51.61" | 51.61" | 50.94" | 38" |
76/100
Very Walkable
Walk Score ®
42/100
Some Transit
Transit Score ®
31/100
Bikable
Bike Score ®
Overview
Most errands can be accomplished on foot. A few nearby public transportation options. Minimal bike infrastructure.Transit Summary
4 nearby routes: 2 bus, 2 rail, 0 other
Walkability averages in the surrounding area
The average walkability score in the surrounding area is Walk Score: 31/100, Transit Score: 7/100, Bike Score: 28/100.
Property Change History
View Changes
Previous Description:
Updated Description:
Points of Interest near 40 Prospect Street, Summit, NJ 07901
1003 ft
Distance
0.2 mi
Distance
0.21 mi
Distance
0.25 mi
Distance
0.24 mi
Distance
0.25 mi
Distance
634 ft
Distance
0.2 mi
Distance
0.24 mi
Distance
792 ft
Distance
0.23 mi
Distance
0.23 mi
Distance
0.21 mi
Distance
0.21 mi
Distance
0.24 mi
Distance
475 ft
Distance
634 ft
Distance
0.25 mi
Distance
422 ft
Distance
739 ft
Distance
898 ft
Distance
950 ft
Distance
0.21 mi
Distance
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Frequently Asked Questions for 40 Prospect Street
Source: Realty.com
40 Prospect Street, Summit, NJ 07901 is a Single Family 1,940 sq. ft. home listed for sale. Realty.com has 18 photos available of this 3 bed, 2 bath house, listed at $1,700,000. View sales and tax history, use our mortgage calculator and more on Realty.com
Realty.com has 18 photos of 40 Prospect Street.
Our records indicate that 40 Prospect Street was built in 1923.
The full address for this home is 40 Prospect Street, Summit, NJ 07901.
40 Prospect Street has been listed on Realty.com since Sat November 22, 2025
Most errands can be accomplished on foot. A few nearby public transportation options. Minimal bike infrastructure.
The average walkability score in the surrounding area is Walk Score: 31/100, Transit Score: 7/100, Bike Score: 28/100.
There are 3 schools assigned to this home. Check out the schools near 40 Prospect Street. Brayton Elementary School (Grades: 1 - 5), L.c. Johnson Summit Middle School (Grades: 6 - 8), Summit Senior High School (Grades: 9 - 12)
Listing provided courtesy of:
Exp Realty
(tel: 732-933-0200)
Listing agent:
Senada Grafas
(tel: 732-933-0200)
(#55875)
This content last refreshed on 2025-11-24 23:35:44. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Export listing data of 40 Prospect Street, Summit, NJ 07901 : MLS# 22535176