5 Derby Square Unit 1 Salem, MA 01970
Downtown Salem NeighborhoodEstimated Value: $572,000 - $656,000
2
Beds
2
Baths
1,754
Sq Ft
$490/mo
HOA Fee
Highlights
- Open Floorplan
- Bathtub with Shower
- Kitchen Island
- Wood Flooring
- Recessed Lighting
- 2-minute walk to Piperpont Park
About This Home
As of December 2021Located between Essex and Front St and adjacent to the Old Town Hall and Hotel Salem, this property screams city living. Step out your door and you'll immediately feel the energy of this great city. Built in 1817 and recorded in the National Register of Historic Places, this property was once a working tavern and even has the original bar and brass fixtures still in tact! This unit has a super unique floorplan. The main level is home to both of the spacious bedrooms and tastefully designed jack and jill bathroom. Head downstairs through an elegant stairwell with ornate woodworking and period details to find a massive open concept kitchen/dining/living room with original brick floors that is anchored by a fully functioning wood burning fireplace! This space would be fantastic for entertaining! Also on this level is a 1/2 bath with laundry and a bonus room. If you are looking for a turn key condo in a well managed building just moments from all the action in Salem...THIS. IS. IT!
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $6,449
Year Built
- 1817
HOA Fees
- $490 per month
Parking
- 1
Interior Spaces
- Bathtub with Shower
- Open Floorplan
- Recessed Lighting
- Dining Area
- Wood Flooring
- Kitchen Island
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 17, 2023
Sold by
White Angela
Bought by
Adk Family Invst
Total Days on Market
10
Current Estimated Value
Purchase Details
Listed on
Nov 2, 2021
Closed on
Dec 10, 2021
Sold by
Franklin Michele A
Bought by
White Angela
Seller's Agent
Justin Repp
Keller Williams Realty Evolution
Buyer's Agent
Mike Urban
eXp Realty
List Price
$485,000
Sold Price
$495,000
Premium/Discount to List
$10,000
2.06%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.32%
Purchase Details
Listed on
Nov 1, 2016
Closed on
Mar 30, 2017
Sold by
Frazier Forrest and Frazier Elizabeth
Bought by
Franklin Michelle
Seller's Agent
Pam McKee
Keller Williams Realty Evolution
Buyer's Agent
Northshorist Group
RE/MAX 360
List Price
$439,000
Sold Price
$434,000
Premium/Discount to List
-$5,000
-1.14%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.83%
Original Mortgage
$412,300
Interest Rate
4.15%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jun 29, 2007
Sold by
Pani Laura E and Pani Mario S
Bought by
Frazier Elizabeth
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$356,250
Interest Rate
6.24%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
May 20, 2004
Sold by
Lawrence Ellen M and Lawrence Michael D
Bought by
Pani Mario S and Pani Laurie
Purchase Details
Closed on
May 28, 2002
Sold by
Semlies Christopher J and Semlies Laura Ann
Bought by
Lawrence Michael D and Lawrence Ellen M
Purchase Details
Closed on
Jun 30, 1997
Sold by
B & M Rt
Bought by
Young Sean K and Wheelahan Robert E
Create a Home Valuation Report for This Property
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Similar Homes in Salem, MA
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Adk Family Invst | -- | None Available | |
| White Angela | $495,000 | None Available | |
| Franklin Michelle | $434,000 | -- | |
| Frazier Elizabeth | $375,000 | -- | |
| Pani Mario S | $336,000 | -- | |
| Lawrence Michael D | $254,000 | -- | |
| Young Sean K | $100,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Franklin Michelle | $412,300 | |
| Previous Owner | Young Sean K | $339,950 | |
| Previous Owner | Young Sean K | $356,250 | |
| Previous Owner | Young Sean K | $111,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/17/2021 12/17/21 | Sold | $495,000 | +2.1% | $282 / Sq Ft |
| 11/13/2021 11/13/21 | Pending | -- | -- | -- |
| 11/02/2021 11/02/21 | For Sale | $485,000 | +11.8% | $277 / Sq Ft |
| 03/30/2017 03/30/17 | Sold | $434,000 | -1.1% | $247 / Sq Ft |
| 02/02/2017 02/02/17 | Pending | -- | -- | -- |
| 11/01/2016 11/01/16 | For Sale | $439,000 | -- | $250 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History Compared to Growth
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 | $6,449 | $568,700 | $0 | $568,700 |
| 2024 | $6,368 | $548,000 | $0 | $548,000 |
| 2023 | $6,184 | $494,300 | $0 | $494,300 |
| 2022 | $6,763 | $510,400 | $0 | $510,400 |
| 2021 | $6,561 | $475,400 | $0 | $475,400 |
| 2020 | $6,380 | $441,500 | $0 | $441,500 |
| 2019 | $6,300 | $417,200 | $0 | $417,200 |
| 2018 | $6,003 | $390,300 | $0 | $390,300 |
| 2017 | $5,603 | $353,300 | $0 | $353,300 |
| 2016 | $5,179 | $330,500 | $0 | $330,500 |
| 2015 | $5,143 | $313,400 | $0 | $313,400 |
Source: Public Records
Agents Affiliated with this Home
-
Justin Repp
Seller's Agent in 2021
Justin Repp
Keller Williams Realty Evolution
(978) 273-6680
1 in this area
106 Total Sales
-
Mike Urban
Buyer's Agent in 2021
Mike Urban
eXp Realty
(617) 686-9299
1 in this area
38 Total Sales
-
Pam McKee
Seller's Agent in 2017
Pam McKee
Keller Williams Realty Evolution
(978) 500-4047
8 in this area
107 Total Sales
-
N
Buyer's Agent in 2017
Northshorist Group
RE/MAX
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 72915061
APN: SALE-000035-000000-000274-000801-000801
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
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