1048-1052 Prospect St

EWING, NJ 08638

$699,900 $2,950/Mo

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Overview

Bed

Bath

3,818

Sqft

1.05

Acres(Lot)

Description

This high-yield, income-producing estate offers a rare triple-stream revenue opportunity set on a sprawling, lush one-acre lot. Comprising a meticulously maintained main house (two spacious 3BR, 1.5BA units) and a stunning newly reconstructed detached cottage. This property is a turn-key powerhouse for investors or owner-occupants seeking significant rental income. The Residences Unit 1050 & 1052 (Main House): Each unit features a generous 3-bedroom, 1.5-bathroom layout. These units have been systematically upgraded with modern comforts, including central air conditioning, updated electrical (removed knob and tube), and insulated attic. Unit 1050 boasts a luxury kitchen updated with a Viking range and hood, plus radiant floor heating, Updated Bathrooms including a Toto Washlet. Unit 1048 ( The Cottage): The crown jewel of the property went through a comprehensive three-year studs-up reconstruction in (2021–2023). This legal rental features vaulted ceilings, mini-duct HVAC, New cabinetry, premium finishes and a private basement for tenant storage—a rare amenity that commands top- tier rent. Exceptional infrastructure & recent upgrades, this property was curated with a “maintenance-first” philosophy, ensuring low carrying costs for years to come. Exterior & Building Envelope: Full exterior refinishing with energy-efficient vinyl shingles over new insulation, French drains, and blue stone-covered front steps. Mechanicals: A systematic replacement of water heaters across all units in (2018–2024), furnace repairs with new water feeders, and a new boiler (2010). Safety & Compliance: Fully updated to code with a hard-wired fire alarm network throughout the main house and Cottage. Outdoor Living: Professional landscaping including blue stone patio extensions, new metal railings, and a massive one-acre yard that provides rare privacy for a multi-family site. Investment Snapshot Revenue: Three distinct units with rents ranging from $2,200 to $3,000+ per month. Value Add: The oversized one-acre lot and separate cottage footprint offer long-term land value and privacy that standard multi-families cannot match. Whether you are looking for a rock-solid addition to your portfolio or a multi-generational living solution, 1048-1052 Prospect Street delivers modern luxury backed by rigorous mechanical updates. Rent Growth: Rents in Ewing have increased by 9.09% to 16% year-over-year as of April 2026. Stop looking for “fixer-uppers” and start collecting $7,000+ in gross monthly revenue from day one. We have received multiple offers on the property. The seller is requesting highest and best offers by Monday, May 11, at 5:00 PM. Please submit your highest and best offer as a full contract with all documents signed

Property Details

Property Type : Residential Income

Price : $699,900

AD Id : 77967409

MLS Id : NJME2076358

Beds : 7

Lot Size : 1.05 Acres

Living Area Size : 3,818

Year Built : 1914

County : MERCER

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 7
Flooring Information

Wood, Vinyl
Roofing Information

Shingle
Interior Features

Roof: Shingle Appliances: Gas Range, Gas Oven, Gas Water Heater, Refrigerator, Dishwasher, Washer, Dryer
Heating & Cooling

Has Heating: Yes Heating: Natural Gas, Radiant Has Cooling: Yes Cooling: Central Air, Ceiling Fan(s), Multi Units, Ductless, Gas

Building Information

Year Built: 1914 Building Area Total: 3818 Construction Materials: Brick, Vinyl Siding Pool Features: None Private Pool: No

Lot Information

Lot Dimensions: 133.83 x 342.00 Lot Size Acres: 1.05 Lot Size Source: Assessor Lot Size Square Feet: 45768

Listing Price Information

Listing Price: $699900

Tax Information

Parcel Number: 02-00025-00013 Tax Lot: 00013 Tax Year: 2025 Annual Tax: $14174

Parking Information

Parking Total: 6 Driveway

Location Information

Direction: Rte 31 to Olden St Prospect St WaterSource: Public

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ByOwner last updated this listing 06/11/2026 @ 06:36

MLS: NJME2076358 LISTED BY: Sita Philion, Redfin 609-216-7035 SOURCE: Bright MLS