NOT LISTED FOR SALE

Derby Lofts Condos 51 Lafayette St Unit 607 Floor 6 Salem, MA 01970

Downtown Salem Neighborhood

Estimated Value: $648,000 - $720,000

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. 71% increase in value since last sale

Current estimated payment $4,867/month

63 Days on Market

Highlights

  • Wood Flooring
  • Forced Air Heating and Cooling System
  • 3-minute walk to Salem Harbor Walk

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

HOA Fees

  • $646 Monthly HOA Fees

Home Design

  • 1,500 Sq Ft Home
  • Entry on the 6th floor
  • 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

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

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
$688,148

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
$490,209
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$197,939

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
5.88%
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

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
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 List to Sale Price per Sq Ft
11/24/2025 11/24/25 Off Market $403,000 -- --
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

    75 Total Sales

    Amit Anand
    Section Image

  • N

    Buyer's Agent in 2016

    Non-Mls Member

    Non-Mls Member

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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

Not Listed for Sale

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