NOT LISTED FOR SALE

Derby Lofts Condos 51 Lafayette St Unit 503 Salem, MA 01970

Downtown Salem Neighborhood

Estimated Value: $628,395 - $721,000

2 Beds
2 Baths
1,545 Sq Ft
0.48 Acres

Last Sold May 31, 2017

Last sale price $440,000 $285 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $4,027/month

20 Days on Market

About This Home

As of May 2017

OPEN-HOUSE Sunday, April 23 - 1:00 PM to 2:30 PM. Experience sophisticated loft living at the desirable, chic downtown urban Derby Lofts in Historic Salem. Spacious open concept living with beautiful hardwood floors, high ceilings, and wonderful water views. Gourmet kitchen for the discerning chef features granite counters, breakfast bar, cherry cabinets and SS appliances. 2 ample sized bedrooms complete with their own private baths including great closet/storage space. In-unit washer/dryer, central a/c, 2 elevators, gated drive-through plus 2-street access entrances for your convenience. Within minutes of commuter rail to Boston and Routes 128, 95 and 107. Peabody Essex Museum, Salem Commons, high-speed ferry to Boston, restaurants, shops and waterfront all await you -- welcome home!!

Last Agent to Sell the Property

Tom Courtney

Coldwell Banker Realty - Lynnfield Listed on: 04/06/2017

Coldwell Banker Realty - Lynnfield

Last Buyer's Agent

Sarah Myles-Lennox

MerryFox Realty

Property Details

Home Type

Condominium

Est. Annual Taxes

$6,192

Year Built

2003

Lot Details

0

Listing Details

  • Unit Level: 5
  • Unit Placement: Upper
  • Property Type: Condominium/Co-Op
  • Year Round: Yes
  • Special Features: None
  • Property Sub Type: Condos
  • Year Built: 2003

Interior Features

  • Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
  • Has Basement: No
  • Primary Bathroom: Yes
  • Number of Rooms: 4
  • Amenities: Public Transportation, Shopping, Park, Medical Facility, Marina, T-Station, University
  • Electric: Circuit Breakers
  • Energy: Insulated Windows, Insulated Doors
  • Flooring: Tile, Vinyl, Hardwood
  • Interior Amenities: Cable Available, Intercom
  • Bedroom 2: First Floor
  • Bathroom #1: First Floor
  • Bathroom #2: First Floor
  • Kitchen: First Floor
  • Laundry Room: First Floor
  • Living Room: First Floor
  • Master Bedroom: First Floor
  • Master Bedroom Description: Closet, Flooring - Hardwood, Window(s) - Picture, Recessed Lighting
  • Oth1 Level: First Floor
  • No Living Levels: 1

Exterior Features

  • Roof: Rubber
  • Construction: Stone/Concrete
  • Exterior: Brick, Stone, Stucco
  • Beach Ownership: Public
  • Waterview Flag: Yes

Garage/Parking

  • Parking: Common, Leased
  • Parking Spaces: 2

Utilities

  • Cooling: Central Air, Individual
  • Heating: Forced Air, Gas, Individual
  • Cooling Zones: 1
  • Heat Zones: 1
  • Hot Water: Natural Gas, Tank
  • Utility Connections: for Gas Range, for Gas Dryer, Washer Hookup
  • Sewer: City/Town Sewer
  • Water: City/Town Water

Condo/Co-op/Association

  • Condominium Name: Derby Street Lofts Condominium
  • Association Fee Includes: Water, Sewer, Master Insurance, Elevator, Exterior Maintenance, Snow Removal, Refuse Removal, Reserve Funds
  • Association Security: Intercom, Security Gate
  • Management: Professional - Off Site
  • Pets Allowed: Yes w/ Restrictions
  • No Units: 54
  • Unit Building: 503

Fee Information

  • Fee Interval: Monthly

Lot Info

  • Zoning: B5
  • Lot: 836

Multi Family

  • Waterview: Harbor, Ocean, Public

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 6, 2017
Closed on
May 31, 2017
Sold by
Sherry Robert B
Bought by
Keegan Kevin
Seller's Agent
Tom Courtney
Coldwell Banker Realty - Lynnfield
Buyer's Agent
Sarah Myles-Lennox
MerryFox Realty
List Price
$429,000
Sold Price
$440,000
Premium/Discount to List
$11,000
2.56%
Current Estimated Value
$666,849

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$226,849
Avg. Annual Appreciation
5.03%

Purchase Details

Closed on
Dec 7, 2010
Sold by
Sherry Robert B and Sherry Robert W
Bought by
Sherry Robert B and Sherry Robert W

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$412,000
Interest Rate
4.22%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 24, 2007
Sold by
Wulc Mary Lynn and Wulc Victor
Bought by
Sherry Robert B

Purchase Details

Closed on
Jan 26, 2006
Sold by
Derby Lofts Llc
Bought by
Wulc Victor

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$41,926
Interest Rate
6.34%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Keegan Kevin $440,000 --
Sherry Robert B -- --
Sherry Robert B -- --
Wulc Victor $419,425 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Wulc Victor $412,000
Previous Owner Wulc Victor $41,926
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/31/2017 05/31/17 Sold $440,000 +2.6% $285 / Sq Ft
04/26/2017 04/26/17 Pending -- -- --
04/06/2017 04/06/17 For Sale $429,000 -- $278 / 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 $6,192 $546,000 $0 $546,000
2024 $5,998 $516,200 $0 $516,200
2023 $6,286 $502,500 $0 $502,500
2022 $6,098 $460,200 $0 $460,200
2021 $5,955 $431,500 $0 $431,500
2020 $6,224 $430,700 $0 $430,700
2019 $6,094 $403,600 $0 $403,600
2018 $5,701 $370,700 $0 $370,700
2017 $5,594 $352,700 $0 $352,700
2016 $5,339 $340,700 $0 $340,700
2015 $4,967 $302,700 $0 $302,700
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2017

    Tom Courtney

    Coldwell Banker Realty - Lynnfield

    Section Image

  • S

    Buyer's Agent in 2017

    Sarah Myles-Lennox

    MerryFox Realty

    (857) 523-9733

    1 in this area

    36 Total Sales

    Sarah Myles-Lennox
    Section Image
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About Derby Lofts Condos

Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72142292

MLS Property Information Network (MLS PIN)

APN: SALE-000034-000000-000485-000836-000836

Massachusetts Essex County Salem 01970 Downtown Salem

51 Lafayette St Unit 503, Salem, MA

Not Listed for Sale

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