An urban net-zero water treatment system, designed for energy-positive water management, 100% recycle of comingled black/grey water to drinking water standards, and mineralization of hormones and other organics, without production of concentrate, was constructed and operated for two years, serving an occupied four-bedroom, four-bath university residence hall apartment. The system comprised septic tank, denitrifying membrane bioreactor (MBR), iron-mediated aeration (IMA) reactor, vacuum ultrafilter, and peroxone or UV/HO advanced oxidation, with 14% rainwater make-up and concomitant discharge of 14% of treated water (ultimately for reuse in irrigation). Chemical oxygen demand was reduced to 12.9 ± 3.7 mg/L by MBR and further decreased to below the detection limit (<0.7 mg/L) by IMA and advanced oxidation treatment. The process produced a mineral water meeting 115 of 115 Florida drinking water standards that, after 10 months of recycle operation with ∼14% rainwater make-up, had a total dissolved solids of ∼500 mg/L, pH 7.8 ± 0.4, turbidity 0.12 ± 0.06 NTU, and NO-N concentration 3.0 ± 1.0 mg/L. None of 97 hormones, personal care products, and pharmaceuticals analyzed were detected in the product water. For a typical single-home system with full occupancy, sludge pumping is projected on a 12-24 month cycle. Operational aspects, including disinfection requirements, pH evolution through the process, mineral control, advanced oxidation by-products, and applicability of point-of-use filters, are discussed. A distributed, peroxone-based NZW management system is projected to save more energy than is consumed in treatment, due largely to retention of wastewater thermal energy. Recommendations regarding design and operation are offered.