NOT LISTED FOR SALE

Derby Lofts Condos 51 Lafayette St Unit 505 Salem, MA 01970

Downtown Salem Neighborhood

Estimated Value: $497,000 - $628,000

2 Beds
2 Baths
1,336 Sq Ft
$501/mo HOA Fee

Last Sold April 20, 2022

Last sale price $547,000 $409 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $4,280/month

5 Days on Market

Highlights

  • Marina
  • City View
  • 0.48 Acre Lot
  • Medical Services
  • Waterfront
  • 5-minute walk to Piperpont Park

About This Home

As of April 2022

Loft style urban living awaits you at Derby Loft Condominiums! Sitting above the hustle and bustle on the 5th floor, is an open and sundrenched South facing two-bedroom, two full bathroom condominium with soaring ceilings, hardwood floors and rarely available spacious private balcony with water-views. Entertain in style in your open concept kitchen showcasing granite counters, maple cabinets & stainless-steel appliances. Beautiful custom electronic blinds in every window, closets with an abundance of built-in shelving and drawers, newer HVAC and hot water system add to value. This Spring watch the boats emerge on the harbor from every window as the landscape changes. The sunrises, full moon as well as the 4th of July fireworks are breathtaking from the balcony. Immerse yourself in the history of Salem, the amazing bakeries, restaurants and museums (which are free to Salem residents). Lastly, don’t forget the Salem Ferry and Commuter Rail to Boston are just blocks away.

Last Agent to Sell the Property

Maura Allard

Leading Edge Real Estate Listed on: 03/23/2022

Last Buyer's Agent

Maura Allard

Leading Edge Real Estate Listed on: 03/23/2022

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $5,879

Year Built

  • Built in 2003

Lot Details

  • Waterfront

HOA Fees

  • $501 Monthly HOA Fees

Parking

  • 1 Car Garage
  • Off-Street Parking

Home Design

  • Rubber Roof
  • Stone

Interior Spaces

  • 1,336 Sq Ft Home
  • 1-Story Property
  • Open Floorplan
  • Sheet Rock Walls or Ceilings
  • Recessed Lighting
  • Insulated Windows
  • Picture Window
  • Insulated Doors
  • Entryway
  • City Views
  • Exterior Basement Entry
  • Intercom

Kitchen

  • Range
  • Microwave
  • Plumbed For Ice Maker
  • Dishwasher
  • Kitchen Island
  • Solid Surface Countertops
  • Disposal

Flooring

  • Wood
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Walk-In Closet
  • 2 Full Bathrooms
  • Bathtub with Shower
  • Separate Shower

Laundry

  • Laundry on main level
  • Dryer
  • Washer

Outdoor Features

  • Balcony
  • Deck

Location

  • Property is near public transit
  • Property is near schools

Schools

  • Collins Middle School
  • Salem High School

Utilities

  • Forced Air Heating and Cooling System
  • 1 Cooling Zone
  • 1 Heating Zone
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • High Speed Internet

Listing and Financial Details

  • Assessor Parcel Number 4588488

Community Details

Overview

  • Other Mandatory Fees include Water, Sewer, Master Insurance, Elevator, Exterior Maintenance, Snow Removal, Refuse Removal, Reserve Funds
  • Association fees include insurance, maintenance structure
  • 54 Units
  • High-Rise Condominium
  • Derby Lofts Condominiums Community

Amenities

  • Medical Services
  • Shops
  • Coin Laundry

Recreation

  • Marina
  • Community Pool
  • Park
  • Jogging Path

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$5,879

Year Built

Built in 2003

Lot Details

0

HOA Fees

$501 per month

Parking

1

Listing Details

  • Property Type: Residential
  • Property Sub Type: Condominium
  • Structure Type: High-Rise, Loft
  • Year Built: 2003
  • Buyer Agency: 2
  • Buyer Agency Type: %
  • Entry Level: 5
  • Transaction Broker: 1.5
  • Transaction Broker Type: %
  • Year Built Details: Actual
  • SUB AGENCY OFFERED: No
  • Year Round: Yes
  • Compensation Based On: Gross/Full Sale Price
  • ResoPropertyType: Residential
  • Special Features: None
  • Stories: 1

Interior Features

  • Flooring: Tile, Hardwood, Flooring - Hardwood
  • Interior Amenities: Closet, Entry Hall, Finish - Sheetrock, Internet Available - Broadband
  • Door Features: Insulated Doors
  • Entry Location: Unit Placement(Upper,Front)
  • Fireplace YN: No
  • Appliances: Range,Dishwasher,Disposal,Microwave,Refrigerator,Washer,Dryer, Plumbed For Ice Maker, Utility Connections for Gas Range, Utility Connections for Gas Oven, Utility Connections for Gas Dryer
  • Total Bedrooms: 2
  • Room Bedroom2 Level: First
  • Room Bedroom2 Features: Walk-In Closet(s), Flooring - Hardwood
  • Room Bedroom2 Area: 88
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Total Bathrooms: 2
  • Room Master Bedroom Features: Walk-In Closet(s), Flooring - Hardwood
  • Room Master Bedroom Level: First
  • Room Master Bedroom Area: 154
  • Master Bathroom Features: Yes
  • Bathroom 1 Area: 55
  • Bathroom 1 Features: Bathroom - Full, Bathroom - With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
  • Bathroom 1 Level: First
  • Bathroom 2 Level: First
  • Bathroom 2 Area: 45
  • Bathroom 2 Features: Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile
  • Room Kitchen Level: First
  • Room Kitchen Features: Flooring - Hardwood, Flooring - Wood, Countertops - Stone/Granite/Solid, Cabinets - Upgraded, Recessed Lighting, Peninsula
  • Room Kitchen Area: 99
  • Laundry Features: Flooring - Vinyl, Gas Dryer Hookup, Walk-in Storage, First Floor, In Unit, Washer Hookup
  • Room Living Room Level: Main
  • Room Living Room Area: 336
  • Room Living Room Features: Flooring - Hardwood, Window(s) - Picture, Deck - Exterior, Exterior Access, Open Floorplan
  • Living Area: 1336
  • Other Equipment: Intercom
  • Stories Total: 1
  • Window Features: Insulated Windows
  • MAIN LO: AN4643
  • LIST PRICE PER Sq Ft: 400.45
  • PRICE PER Sq Ft: 409.43
  • MAIN SO: AN4643

Exterior Features

  • Exterior Features: Balcony
  • Construction Materials: Stone
  • Patio And Porch Features: Deck, Deck - Composite
  • Roof: Rubber
  • View: City
  • View YN: Yes
  • Waterfront Features: Beach Front, Harbor, 1 to 2 Mile To Beach, Beach Ownership(Public)
  • Waterfront YN: Yes

Garage/Parking

  • Garage Spaces: 1
  • Covered Parking Spaces: 1
  • Garage YN: Yes
  • Parking Features: Off Street

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range, for Gas Oven, for Gas Dryer, Washer Hookup, Icemaker Connection
  • Cooling: Central Air
  • Heating: Forced Air, Natural Gas
  • Cooling Y N: Yes
  • Electric: Circuit Breakers
  • Heating YN: Yes
  • Security Features: Intercom
  • Water Source: Public
  • HEAT ZONES: 1
  • COOLING ZONES: 1

Condo/Co-op/Association

  • Association Fee: 500.73
  • Association Fee Frequency: Monthly
  • Association YN: Yes
  • Community Features: Public Transportation, Shopping, Pool, Park, Walk/Jog Trails, Medical Facility, Laundromat, House of Worship, Marina, Public School, T-Station, University
  • OPT FEE INCLUDES: Water, Sewer, Master Insurance, Elevator, Exterior Maintenance, Snow Removal, Refuse Removal, Reserve Funds
  • UNIT BUILDING: 505
  • MANAGEMENT: Professional - Off Site
  • ResoAssociationFeeFrequency: Monthly

Fee Information

  • Association Fee Includes: Insurance, Maintenance Structure

Lot Info

  • Parcel Number: 4588488
  • Zoning: B5
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.48
  • Lot Size Area: 0.48
  • Lot Size Sq Ft: 20908.8
  • Lot Size Units: Acres
  • Property Attached YN: Yes
  • LOT SIZE: 20908
  • PAGE: 107
  • OUTDOOR SPACE AVAILABLE: Yes - Private

Rental Info

  • Pets Allowed: Yes

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 5879.03
  • Tax Book Number: 35038

Multi Family

  • Number Of Units Total: 54
  • Basement Included Sq Ft: No
  • NO UNITS OWNER OCC: 47

MLS Schools

  • High School: Salem Hs
  • Middle Or Junior School: Collins Ms

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 15, 2016
Closed on
Jun 28, 2016
Sold by
Blatsos Maryann
Bought by
51 Lafayette St 505 Rt
Seller's Agent
Thomas Costagliola
Experience Real Estate
Buyer's Agent
John Bristol
Fathom Realty MA
List Price
$439,000
Sold Price
$399,000
Premium/Discount to List
-$40,000
-9.11%
Current Estimated Value
$588,047

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$189,047
Avg. Annual Appreciation
4.65%

Purchase Details

Closed on
Dec 8, 2005
Sold by
Derby Lofts Llc
Bought by
Blatsos Maryann

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
6.34%
Source: Public Records

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Range of Values:

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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
51 Lafayette St 505 Rt $399,000 --
Blatsos Maryann $409,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Graham Marjory $400,000
Previous Owner Blatsos Maryann $100,000
Previous Owner Blatsos Maryann $160,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/20/2022 04/20/22 Sold $547,000 +2.2% $409 / Sq Ft
03/29/2022 03/29/22 Pending -- -- --
03/23/2022 03/23/22 For Sale $535,000 +34.1% $400 / Sq Ft
06/28/2016 06/28/16 Sold $399,000 0.0% $274 / Sq Ft
05/11/2016 05/11/16 Pending -- -- --
04/28/2016 04/28/16 Price Changed $399,000 -6.8% $274 / Sq Ft
04/22/2016 04/22/16 Price Changed $428,000 -2.5% $294 / Sq Ft
04/15/2016 04/15/16 For Sale $439,000 -- $301 / 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 $6,034 $532,100 $0 $532,100
2024 $5,948 $511,900 $0 $511,900
2023 $6,062 $484,600 $0 $484,600
2022 $5,879 $443,700 $0 $443,700
2021 $5,741 $416,000 $0 $416,000
2020 $6,008 $415,800 $0 $415,800
2019 $5,894 $390,300 $0 $390,300
2018 $5,526 $359,300 $0 $359,300
2017 $5,246 $330,800 $0 $330,800
2016 $5,008 $319,600 $0 $319,600
2015 $4,664 $284,200 $0 $284,200
Source: Public Records

Agents Affiliated with this Home

  • Maura Allard

    Seller's Agent in 2022

    Maura Allard

    Leading Edge Real Estate

    (978) 835-8954

    3 in this area

    144 Total Sales

    Section Image

  • T

    Seller's Agent in 2016

    Thomas Costagliola

    Experience Real Estate

    5 Total Sales

    Thomas Costagliola
    Section Image
  • John Bristol

    Buyer's Agent in 2016

    John Bristol

    Fathom Realty MA

    (617) 698-3900

    6 Total Sales

    John Bristol
    Section Image
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About Derby Lofts Condos

Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72956159

MLS Property Information Network (MLS PIN)

APN: SALE-000034-000000-000485-000838-000838

Massachusetts Essex County Salem 01970 Downtown Salem

51 Lafayette St Unit 505, Salem, MA

This home is located at 51 Lafayette St Unit 505, Salem, MA 01970 since 23 March 2022 and is currently estimated at $588,047, approximately $440 per square foot. This property was built in 2003. 51 Lafayette St Unit 505 is a home located in Essex County with nearby schools including Saltonstall School, Carlton Elementary School, and Bates Elementary School.

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