$1,700,000
About this home
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
Affordability — calculate your monthly payment
Adjust your budget to see what's left after housing, utilities and transportation. Numbers below assume a 5% down, 30YrJumbo at 4% APR.
- Real estate (PITI + HOA + PMI)
- $11,196
- Utilities
- $552
- Transportation
- $110
- Other (entertainment)
- $158
Quick facts
At a glance
Home features
Lot features
See Remarks
Neighborhood — 07901
| Metric | This ZIP | County | USA |
|---|---|---|---|
| Population | 26,197 | 8,832,837 | 299,088,112 |
| Population Change Since1990 | 10.00% | 14.00% | 20.00% |
| Population Density | 4,126 | 1,137 | — |
| Male | 12,753 | 4,307,827 | 147,432,321 |
| Female | 13,444 | 4,525,010 | 151,655,844 |
| Never Married | 4,583 | 1,965,811 | 63,775,926 |
| Married | 12,468 | 3,647,435 | 123,120,365 |
| Separated | 754 | 391,239 | 12,639,686 |
| Widowed | 1,235 | 515,172 | 15,467,586 |
| Divorced | 1,075 | 529,393 | 23,075,029 |
| Number Of House Hold | 9,662 | 3,167,345 | 111,826,380 |
| Average House Hold Size | 2.69 | 2.73 | 2.60 |
| Medial Age | 38.19 | 37.15 | 35.46 |
| Median House Hold Income | $111,906 | $63,392 | $48,276 |
| Average House Hold Income | $186,426 | $83,312 | $63,629 |
| P C I | $69,229 | $30,662 | $24,529 |
| M D I | $85,246 | $52,505 | $41,133 |
| A T H E | $112,812 | $61,369 | $50,898 |
| S T R | 7.00% | 7.00% | — |
| W C J | 84.46% | 81.02% | 77.74% |
Data via Certihomes neighborhood index. Comparisons across this ZIP, county and the United States.
Map & walkability
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Listing information last refreshed 11/21/2025. Provided courtesy of EXP REALTY, LLC via Central Jersey Multiple Listing System, INC. Information deemed reliable but not guaranteed.