NOT LISTED FOR SALE

116 Federal St Unit 3 Salem, MA 01970

Downtown Salem Neighborhood

Estimated Value: $446,735 - $545,000

2 Beds
1 Bath
1,016 Sq Ft
$252/mo HOA Fee

Last Sold August 19, 2022

Last sale price $315,000 $310 Per Sq Ft

Est. 57% increase in value since last sale

Current estimated payment $3,266/month

14 Days on Market

Highlights

  • Marina
  • Property is near public transit
  • Wood Flooring
  • Medical Services
  • Living Room with Fireplace
  • Storm Windows

About This Home

As of August 2022

LOCATION and Historical Charm, just a few steps to Salem's restaurants/stores, commuter rail and the waterfront, this well located unit features a large living room with wide plank floors and detailed moldings There are several fireplaces (not sure if working) add to the decor, 2 bedrooms off the kitchen. For those that love the Federal Style, you will appreciate all the detail that this unit has to offer. Common area landscape leads to 2 tandem parking spots.

Last Agent to Sell the Property

Robert Drummey

NE Property Consultants Listed on: 07/05/2022

Last Buyer's Agent

Joseph Scapicchio

Berkshire Hathaway HomeServices Warren Residential

Berkshire Hathaway HomeServices Warren Residential

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $4,900

Year Built

  • Built in 1782

HOA Fees

  • $252 Monthly HOA Fees

Parking

  • 2 Car Parking Spaces

Home Design

  • Entry on the 2nd floor
  • Shingle Roof
  • Rubber Roof

Interior Spaces

  • 1,016 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace
  • 3 Fireplaces
  • Wood Flooring

Kitchen

  • Range
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Primary bedroom located on second floor
  • 1 Full Bathroom
  • Bathtub with Shower

Home Security

Location

  • Property is near public transit
  • Property is near schools

Schools

  • Salem High School

Utilities

  • No Cooling
  • Forced Air Heating System
  • 1 Heating Zone
  • Heating System Uses Oil
  • 100 Amp Service
  • Gas Water Heater
  • Internet Available

Additional Features

  • Patio
  • Security Fence

Listing and Financial Details

  • Assessor Parcel Number 2132868

Community Details

Overview

  • Association fees include water, sewer, insurance, maintenance structure, ground maintenance, snow removal
  • 4 Units

Amenities

  • Medical Services
  • Common Area
  • Shops
  • Coin Laundry

Recreation

  • Marina
  • Park
  • Bike Trail

Pet Policy

  • Pets Allowed

Security

  • Storm Windows

Property Details

Home Type

Condominium

Est. Annual Taxes

$4,900

Year Built

Built in 1782

Lot Details

0

HOA Fees

$252 per month

Listing Details

  • Property Type: Residential
  • Property Sub Type: Condominium
  • Architectural Style: Other (See Remarks)
  • Year Built: 1782
  • Buyer Agency Type: %
  • Entry Level: 2
  • Transaction Broker Type: %
  • Year Built Details: Actual
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • ResoPropertyType: Residential
  • Special Features: None
  • Stories: 2

Interior Features

  • Flooring: Wood
  • Interior Amenities: Internet Available - Unknown
  • Entry Location: Unit Placement(Upper)
  • Fireplace Features: Living Room
  • Fireplace YN: Yes
  • Fireplaces: 3
  • Appliances: Range,Dishwasher,Disposal,Refrigerator, Gas Water Heater
  • Total Bedrooms: 2
  • Room Bedroom2 Level: Second
  • Room Bedroom2 Features: Closet, Flooring - Wood
  • Full Bathrooms: 1
  • Total Bathrooms: 1
  • Room Master Bedroom Features: Closet, Flooring - Wood
  • Room Master Bedroom Level: Second
  • Bathroom 1 Features: Bathroom - Full, Bathroom - With Tub & Shower
  • Bathroom 1 Level: Second
  • Room Kitchen Level: Second
  • Room Kitchen Features: Flooring - Wood
  • Room Living Room Level: Second
  • Room Living Room Features: Flooring - Hardwood
  • Living Area: 1016
  • Stories Total: 2
  • Window Features: Storm Window(s)
  • MAIN LO: AN0420
  • MAIN SO: AN2213

Exterior Features

  • Construction Materials: See Remarks
  • Fencing: Security
  • Patio And Porch Features: Patio
  • Roof: Shingle, Rubber
  • Waterfront Features: Beach Front, Harbor, Ocean, 1 to 2 Mile To Beach, Beach Ownership(Public)
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Total Parking Spaces: 2

Utilities

  • Sewer: Public Sewer
  • Cooling: None
  • Heating: Forced Air, Oil
  • Cooling Y N: No
  • Electric: 100 Amp Service
  • Heating YN: Yes
  • Water Source: Public
  • SEWAGE DISTRICT: Salem
  • HEAT ZONES: 1
  • COOLING ZONES: 0

Condo/Co-op/Association

  • Association Fee: 251.66
  • Association Fee Frequency: Monthly
  • Association YN: Yes
  • Community Features: Public Transportation, Shopping, Park, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Marina, Public School, T-Station, University
  • MANAGEMENT: Other (See Remarks)
  • ResoAssociationFeeFrequency: Monthly

Fee Information

  • Association Fee Includes: Water, Sewer, Insurance, Maintenance Structure, Maintenance Grounds, Snow Removal

Lot Info

  • Parcel Number: 2132868
  • Zoning: Parcel
  • Farm Land Area Units: Square Feet
  • Lot Size Units: Acres
  • OUTDOOR SPACE AVAILABLE: Yes - Common
  • ResoLotSizeUnits: Acres

Rental Info

  • Pets Allowed: Yes

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 4900

Multi Family

  • Number Of Units Total: 4
  • Basement Included Sq Ft: No

MLS Schools

  • High School: Salem High

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 5, 2022
Closed on
Aug 19, 2022
Sold by
Oconnor Ursula
Bought by
Vetro Darryl and Vetro Georgeana
Seller's Agent
Robert Drummey
NE Property Consultants
Buyer's Agent
Joseph Scapicchio
Berkshire Hathaway HomeServices Warren Residential
List Price
$399,900
Sold Price
$315,000
Premium/Discount to List
-$84,900
-21.23%
Current Estimated Value
$494,684

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$179,684
Avg. Annual Appreciation
14.61%
Original Mortgage
$215,000
Outstanding Balance
$205,203
Interest Rate
5.3%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$289,481

Purchase Details

Closed on
Jan 6, 1998
Sold by
Bailey James A
Bought by
Oconnor Ursula

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$56,600
Interest Rate
7.11%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Vetro Darryl $315,000 None Available
Oconnor Ursula $85,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Vetro Darryl $215,000
Previous Owner Oconnor Ursula $56,600
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/19/2022 08/19/22 Sold $315,000 -16.9% $310 / Sq Ft
07/27/2022 07/27/22 Off Market $379,000 -- --
07/20/2022 07/20/22 Pending -- -- --
07/15/2022 07/15/22 Price Changed $379,000 -5.2% $373 / Sq Ft
07/05/2022 07/05/22 For Sale $399,900 -- $394 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,039 $444,400 $0 $444,400
2024 $4,579 $394,100 $0 $394,100
2023 $4,746 $379,400 $0 $379,400
2022 $4,506 $340,100 $0 $340,100
2021 $4,615 $334,400 $0 $334,400
2020 $4,043 $279,800 $0 $279,800
2019 $3,748 $248,200 $0 $248,200
2018 $3,590 $233,400 $0 $233,400
2017 $3,610 $227,600 $0 $227,600
2016 $3,272 $208,800 $0 $208,800
2015 $3,312 $201,800 $0 $201,800
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2022

    Robert Drummey

    NE Property Consultants

    Section Image
  • Joseph Scapicchio

    Buyer's Agent in 2022

    Joseph Scapicchio

    Berkshire Hathaway HomeServices Warren Residential

    (617) 791-1112

    3 in this area

    35 Total Sales

    Joseph Scapicchio
    Section Image
See All Agents

Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73007244

MLS Property Information Network (MLS PIN)

APN: SALE-000026-000000-000592-000804-000804

Massachusetts Essex County Salem 01970 Downtown Salem

116 Federal St Unit 3, Salem, MA

Not Listed for Sale

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