NOT LISTED FOR SALE

Derby Lofts Condos 51 Lafayette St Unit 203 Salem, MA 01970

Downtown Salem Neighborhood

Estimated Value: $620,000 - $653,000

2 Beds
2 Baths
1,563 Sq Ft
$414/mo HOA Fee

Last Sold March 08, 2024

Last sale price $595,000 $381 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $4,263/month

30 Days on Market

Highlights

  • Marina
  • 0.48 Acre Lot
  • Property is near public transit
  • City View
  • Open Floorplan
  • 3-minute walk to Salem Harbor Walk

About This Home

As of March 2024

Welcome to the epitome of chic urban living in the vibrant heart of Downtown Salem at Derby Lofts, be just steps away from the picturesque waterfront, museums, restaurants, shops, cafes & nightlife. As you enter this open-concept loft you are greeted with soaring ceilings, exposed brick and hardwood flrs that effortlessly blend a cool vibe to enjoy. Beautifully appointed kitchen offers generous cabinet space, granite counters, NEW SS appliances and breakfast bar that creates a seamless flow between the kitchen, dining and living areas, perfect for entertaining. Recharge in your en suite complete w/ multiple closets, a reading area and full bath. Equally tranquil is a 2nd bedroom w/ WIC or could makes perfect home office. Abundance of storage space accommodates your lifestyle while keeping everything in its place. Bonus NEWLY installed high-efficiency HVAC and Hot Water system. Professionally managed building w/, elevator access & a welcoming pet friendly association.

Last Agent to Sell the Property

Zoe Karademos

Coldwell Banker Realty - Marblehead Listed on: 11/15/2023

Coldwell Banker Realty - Marblehead

Last Buyer's Agent

Zoe Karademos

Coldwell Banker Realty - Marblehead Listed on: 11/15/2023

Coldwell Banker Realty - Marblehead

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $5,622

Year Built

  • Built in 2003

Lot Details

  • 0.48

HOA Fees

  • $414 Monthly HOA Fees

Parking

  • 1 Car Garage
  • Common or Shared Parking
  • Open Parking

Home Design

  • Entry on the 2nd floor
  • Brick Exterior Construction
  • Rubber Roof
  • Stone

Interior Spaces

  • 1,563 Sq Ft Home
  • Open Floorplan
  • Insulated Windows
  • Wood Flooring
  • City Views

Kitchen

  • Breakfast Bar
  • Range
  • Microwave
  • Dishwasher
  • Stainless Steel Appliances
  • Solid Surface Countertops
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Primary bedroom located on second floor
  • Walk-In Closet
  • 2 Full Bathrooms

Laundry

  • Laundry on upper level
  • ENERGY STAR Qualified Dryer
  • ENERGY STAR Qualified Washer

Home Security

  • Security Gate
  • Intercom

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Assessor Parcel Number M:34 L:0485 S:803,4580588

Community Details

Overview

  • Association fees include water, sewer, insurance, security, maintenance structure, snow removal, trash, reserve funds
  • 54 Units
  • Mid-Rise Condominium
  • Derby Lofts Community
  • 6-Story Property

Amenities

  • Shops
  • Elevator

Recreation

  • Marina
  • Park
  • Jogging Path

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$5,622

Year Built

Built in 2003

Lot Details

0

HOA Fees

$414 per month

Parking

1

Listing Details

  • Property Type: Residential
  • Property Sub Type: Condominium
  • Structure Type: Mid-Rise
  • Year Built: 2003
  • Entry Level: 2
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • ResoPropertyType: Residential
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 6

Interior Features

  • Flooring: Hardwood
  • Entry Location: Unit Placement(Upper)
  • Fireplace YN: No
  • Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, ENERGY STAR Qualified Dryer, ENERGY STAR Qualified Washer
  • Total Bedrooms: 2
  • Room Bedroom2 Level: Second
  • Room Bedroom2 Features: Walk-In Closet(s), Flooring - Hardwood
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Room Master Bedroom Features: Bathroom - Full, Closet, Flooring - Hardwood
  • Room Master Bedroom Level: Second
  • Master Bathroom Features: Yes
  • Bathroom 1 Features: Bathroom - Full
  • Bathroom 1 Level: Second
  • Bathroom 2 Level: Second
  • Bathroom 2 Features: Bathroom - Full
  • Room Dining Room Features: Flooring - Hardwood
  • Room Dining Room Level: Second
  • Room Kitchen Level: Second
  • Room Kitchen Features: Flooring - Hardwood, Pantry, Countertops - Stone/Granite/Solid, Breakfast Bar / Nook, Cabinets - Upgraded, Open Floorplan, Stainless Steel Appliances
  • Laundry Features: Second Floor, In Unit
  • Room Living Room Level: Second
  • Room Living Room Features: Flooring - Hardwood, Open Floorplan
  • Basement: N
  • Living Area: 1563
  • Spa YN: No
  • Stories Total: 6
  • Window Features: Insulated Windows
  • MAIN LO: AN6181
  • MAIN SO: AN6181

Exterior Features

  • Exterior Features: City View(s)
  • Construction Materials: Brick, Stone
  • Home Warranty YN: No
  • Roof: Rubber
  • View: City
  • View YN: Yes
  • Waterfront Features: Beach Front, Harbor, Ocean, 1/2 to 1 Mile To Beach
  • Waterfront YN: No

Garage/Parking

  • Garage Spaces: 1
  • Attached Garage YN: No
  • Carport Y N: No
  • Covered Parking Spaces: 1
  • Garage YN: Yes
  • Open Parking YN: Yes
  • Parking Features: Common
  • Total Parking Spaces: 1

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range
  • Cooling: Central Air
  • Heating: Forced Air, Natural Gas
  • Cooling Y N: Yes
  • Electric: Circuit Breakers
  • Heating YN: Yes
  • Security Features: Intercom, Security Gate
  • Water Source: Public

Condo/Co-op/Association

  • Association Amenities: Elevator(s)
  • Association Fee: 413.67
  • Association Fee Frequency: Monthly
  • Association YN: Yes
  • Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Highway Access, Marina, T-Station, University
  • Senior Community YN: No
  • MANAGEMENT: Professional - Off Site
  • ResoAssociationFeeFrequency: Monthly

Fee Information

  • Association Fee Includes: Water, Sewer, Insurance, Security, Maintenance Structure, Snow Removal, Trash, Reserve Funds

Lot Info

  • Parcel Number: M:34 L:0485 S:803,4580588
  • Zoning: B5
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.48
  • Lot Size Sq Ft: 20752
  • Lot Size Units: Acres
  • Property Attached YN: Yes
  • ResoLotSizeUnits: Acres

Rental Info

  • Pets Allowed: Yes

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 5622

Multi Family

  • Number Of Units Total: 54
  • Basement Included Sq Ft: No

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 15, 2023
Closed on
Mar 8, 2024
Sold by
Vered Arnon
Bought by
Flowers Emile and Flowers Nicholas
Seller's Agent
Zoe Karademos
Coldwell Banker Realty - Marblehead
Buyer's Agent
Zoe Karademos
Coldwell Banker Realty - Marblehead
List Price
$595,000
Sold Price
$595,000
Views
327
Current Estimated Value
$641,219

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$46,219
Avg. Annual Appreciation
4.47%
Original Mortgage
$445,000
Outstanding Balance
$438,085
Interest Rate
6.99%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$203,134

Purchase Details

Closed on
May 15, 2019
Sold by
Derby Street Unit 203 Llc
Bought by
Vered Arnon

Purchase Details

Closed on
Jun 28, 2017
Sold by
Pike Christopher S
Bought by
Derby Street Unit 203

Purchase Details

Closed on
Aug 27, 2014
Sold by
Ring David and Nationstar Mortgage Ll
Bought by
Fhlmc

Purchase Details

Closed on
Nov 23, 2005
Sold by
Derby Lofts Llc
Bought by
Ring David

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$290,000
Interest Rate
6.06%
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
Flowers Emile $595,000 None Available
Vered Arnon $420,000 --
Derby Street Unit 203 $320,000 --
Fhlmc $419,963 --
Ring David $362,825 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Flowers Emile $445,000
Previous Owner Ring David $370,250
Previous Owner Ring David $290,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/08/2024 03/08/24 Sold $595,000 0.0% $381 / Sq Ft
12/16/2023 12/16/23 Pending -- -- --
11/15/2023 11/15/23 For Sale $595,000 0.0% $381 / Sq Ft
12/28/2017 12/28/17 Rented $2,200 0.0% --
12/26/2017 12/26/17 Under Contract -- -- --
10/07/2017 10/07/17 Price Changed $2,200 -6.4% $1 / Sq Ft
09/26/2017 09/26/17 For Rent $2,350 0.0% --
06/05/2015 06/05/15 Sold $303,000 0.0% $194 / Sq Ft View Prior Sale
04/24/2015 04/24/15 Pending -- -- --
04/11/2015 04/11/15 Off Market $303,000 -- --
03/02/2015 03/02/15 For Sale $305,000 -- $195 / 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 $5,678 $500,700 $0 $500,700
2024 $5,487 $472,200 $0 $472,200
2023 $5,622 $449,400 $0 $449,400
2022 $5,464 $412,400 $0 $412,400
2021 $5,334 $386,500 $0 $386,500
2020 $5,582 $386,300 $0 $386,300
2019 $8,608 $357,500 $0 $357,500
2018 $5,058 $328,900 $0 $328,900
2017 $4,967 $313,200 $0 $313,200
2016 $4,743 $302,700 $0 $302,700
2015 $4,421 $269,400 $0 $269,400
Source: Public Records

Agents Affiliated with this Home

  • Zoe Karademos

    Seller's Agent in 2024

    Zoe Karademos

    Coldwell Banker Realty - Marblehead

    (781) 405-7122

    5 in this area

    66 Total Sales

    Zoe Karademos
    Section Image
  • Diane Mahalati

    Seller's Agent in 2015

    Diane Mahalati

    Schruender Realty

    (978) 609-5765

    6 Total Sales

    Diane Mahalati
    Section Image
  • Lori Bouchie

    Buyer's Agent in 2015

    Lori Bouchie

    RE/MAX

    (978) 865-1227

    15 Total Sales

    Lori Bouchie
    Section Image
See All Agents

About Derby Lofts Condos

Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73180635

MLS Property Information Network (MLS PIN)

APN: SALE-000034-000000-000485-000803-000803

Massachusetts Essex County Salem 01970 Downtown Salem

51 Lafayette St Unit 203, Salem, MA

Not Listed for Sale

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