NOT LISTED FOR SALE

Derby Lofts Condos 51 Lafayette St Unit 607 Salem, MA 01970

Downtown Salem Neighborhood

Estimated Value: $545,000 - $682,046

2 Beds
2 Baths
1,500 Sq Ft
$646/mo HOA Fee

Last Sold July 15, 2016

Last sale price $403,000 $269 Per Sq Ft

Est. 59% increase in value since last sale

Current estimated payment $4,807/month

63 Days on Market

Highlights

  • Wood Flooring
  • Forced Air Heating and Cooling System
  • 5-minute walk to Piperpont Park

About This Home

As of July 2016

Bank Owned - Derby Street Lofts - Modern Sophisticated Loft Living in Downtown Salem. Walking distance to commuter rail & just a few blocks to Boston Harbor Ferry. Million dollar sweeping city views with 10'+ ceilings. BUYER to assume assessment fee.

Last Agent to Sell the Property

Amit Anand

Equinox Properties License #REB.0017097 Listed on: 04/12/2016

Last Buyer's Agent

Non-Mls Member

Non-Mls Member

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $6,134

Year Built

  • Built in 2003

Lot Details

  • 0.48

HOA Fees

  • $646 Monthly HOA Fees

Home Design

  • 1,500 Sq Ft Home
  • Brick Exterior Construction
  • Combination Foundation
  • Masonry

Flooring

  • Wood
  • Laminate
  • Ceramic Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Parking

  • No Garage
  • Unassigned Parking

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas
  • 100 Amp Service
  • Gas Water Heater

Listing and Financial Details

  • Tax Lot 485
  • Assessor Parcel Number 51LAFAYETTEST607SALM

Community Details

Overview

  • 62 Units
  • Salem Subdivision
  • 6-Story Property

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$6,134

Year Built

Built in 2003

Lot Details

0

HOA Fees

$646 per month

Listing Details

  • Property Sub Type: Condominium
  • Prop. Type: Residential
  • Subdivision Name: SALEM
  • Above Grade Finished Sq Ft: 1500.0
  • Architectural Style: Loft
  • Building Name: Derby Street Lofts
  • Entry Level: 6
  • Garage Yn: No
  • Unit Levels: One
  • New Construction: No
  • Building Stories: 6
  • Year Built: 2003
  • Property Sub Type Additional: Condominium
  • Special Features: RealEstateOwned
  • Stories: 6

Interior Features

  • Appliances: Gas Water Heater
  • Has Basement: None
  • Basement YN: No
  • Full Bathrooms: 2
  • Total Bedrooms: 2
  • Entry Location: Elevator
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Ceramic Tile, Hardwood, Laminate
  • Living Area: 1500.0
  • Stories: 6
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Construction Type: Brick, Masonry
  • Foundation Details: Combination

Garage/Parking

  • Parking Features: No Garage, Unassigned

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Forced Air, Gas
  • Heating Yn: Yes
  • Electric: 100 Amp Service
  • Sewer: Connected
  • Utilities: Sewer Connected
  • Water Source: Connected

Condo/Co-op/Association

  • Senior Community: No
  • Association Fee: 645.84
  • Association Fee Frequency: Monthly
  • Pets Allowed: Yes
  • Common Interest: Condominium

Lot Info

  • Parcel #: 51LAFAYETTEST607SALM
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Number Of Units In Community: 62

Tax Info

  • Tax Annual Amount: 6134.0
  • Tax Lot: 485
  • Tax Year: 2016

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 23, 2021
Sold by
Dobie Kenneth R and Dobie Margaret M
Bought by
Soman Sophie E
Current Estimated Value
$639,512

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$539,100
Outstanding Balance
$496,511
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$186,880

Purchase Details

Listed on
Apr 12, 2016
Closed on
Jun 7, 2016
Sold by
Department Of Housing & Urban Dev
Bought by
Dobie Margaret M and Dobie Kenneth R
Seller's Agent
Amit Anand
Equinox Properties
Buyer's Agent
Non-Mls Member
Non-Mls Member
List Price
$380,000
Sold Price
$403,000
Premium/Discount to List
$23,000
6.05%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.09%
Original Mortgage
$322,656
Interest Rate
3.59%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 24, 2016
Sold by
Jp Morgan Chase Bank N
Bought by
Department Of Housing & Urban Dev

Purchase Details

Closed on
Jan 28, 2014
Sold by
Fields James C
Bought by
Jp Morgan Chase Bank N

Purchase Details

Closed on
Jul 1, 2008
Sold by
607 Derby Loft T
Bought by
Fields James C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$428,279
Interest Rate
6.07%
Mortgage Type
Purchase Money Mortgage
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
Soman Sophie E $599,000 None Available
Dobie Margaret M $403,321 --
Department Of Housing & Urban Dev -- --
Jp Morgan Chase Bank N $274,700 --
Fields James C $435,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Soman Sophie E $539,100
Previous Owner Dobie Margaret M $322,656
Previous Owner Fields James C $428,279
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/15/2016 07/15/16 Sold $403,000 +6.1% $269 / Sq Ft
06/15/2016 06/15/16 Pending -- -- --
04/12/2016 04/12/16 For Sale $380,000 -- $253 / Sq Ft
Source: State-Wide MLS

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 $7,171 $632,400 $0 $632,400
2024 $6,948 $597,900 $0 $597,900
2023 $7,293 $583,000 $0 $583,000
2022 $7,070 $533,600 $0 $533,600
2021 $5,549 $500,600 $0 $500,600
2020 $7,193 $497,800 $0 $497,800
2019 $5,669 $466,200 $0 $466,200
2018 $6,553 $426,100 $0 $426,100
2017 $6,430 $405,400 $0 $405,400
2016 $6,135 $391,500 $0 $391,500
2015 $5,702 $347,500 $0 $347,500
Source: Public Records

Agents Affiliated with this Home

  • Amit Anand

    Seller's Agent in 2016

    Amit Anand

    Equinox Properties

    (401) 258-0546

    91 Total Sales

    Amit Anand
    Section Image

  • N

    Buyer's Agent in 2016

    Non-Mls Member

    Non-Mls Member

See All Agents

About Derby Lofts Condos

Map

Source: State-Wide MLS

MLS Number: 1122730

State-Wide MLS

APN: SALE-000034-000000-000485-000851-000851

Massachusetts Essex County Salem 01970 Downtown Salem

51 Lafayette St Unit 607, Salem, MA

This home is located at 51 Lafayette St Unit 607, Salem, MA 01970 since 12 April 2016 and is currently estimated at $639,512, approximately $426 per square foot. This property was built in 2003. 51 Lafayette St Unit 607 is a home located in Essex County with nearby schools including Saltonstall School, Carlton Elementary School, and Bates Elementary School.

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