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1048-1052 Prospect, 
Ewing, NJ 08638

$699,900


7

Beds


Bath


3,818

Sq Ft


Multi-Family

Pending

Listed by

Sita Philion

Redfin, (848) 459-4981, lori.gazzano@redfin.com

Last updated:

May 19, 2026, 07:29 AM

MLS#

NJME2076358

Source:

BRIGHTMLS

About This Home

1048-1052 Prospect

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

Home Facts

Multi-Family

7 Bedrooms

Built in 1914

Price Summary

699,900

$183 per Sq. Ft.

MLS #:

NJME2076358

Last Updated:

May 19, 2026, 07:29 AM

Added:

15 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

7


Structure

Structure

Architectural Style:

Colonial, Cottage

Building Area:

3,818 Sq. Ft.

Year Built:

1914


Lot

Lot Size (Sq. Ft):

45,738


Finances & Disclosures

Finances

Price:

$699,900

Price per Sq. Ft:

$183 per Sq. Ft.

Source:BRIGHTMLS
The information being provided by Bright Mls is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2026 Bright Mls All rights reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.