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About the Listing 55722 - 3171310
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.
Listing Highlights
Status
Active
Days on Site
2
Property Type
Multi-Family
MLS ®
NJME2076358
Year Built
1914
Total Square Footage
3,818
Lot/Acreage
1.05
Interior Details
- Bedrooms: 7
- Bathrooms: 3 Full
- Appliances: Oven/Range - Gas, Refrigerator, Dishwasher, Washer, Dryer
- Air Cond: Central A/C,Ceiling Fan(s),Ductless/Mini-Split,Multi Units
- Heating: Radiator,Wall Unit
- Fireplaces: 1, 1 Fireplace
- Floor: Wood,Vinyl
- Above Ground Sq Ft: 3818
- Below Ground Sq Ft: 0
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Parking Spaces: 6
- Lot Dimensions: 133.83 x 342.00
- Zoning: RES
- Roof: Shingle
- Others:
- Sewer: Public Sewer
- Parking Features: Driveway,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $14,174
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2025
Payment Calculator
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Questions About..
1048 1048-1052 Prospect Ewing, NJ 08638
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