NOT LISTED FOR SALE

7 Union St Unit 1 Salem, MA 01970

Derby Street Neighborhood

Estimated Value: $511,000 - $595,000

2 Beds
2 Baths
794 Sq Ft
2,614 Sq Ft Lot

Last Sold May 27, 2022

Last sale price $525,000 $661 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $3,301/month

4 Days on Market

Highlights

  • Waterfront
  • Property is near public transit
  • Upgraded Countertops
  • Open Floorplan
  • Wood Flooring
  • 3-minute walk to Salem Common

About This Home

As of May 2022

Location, Location, Location! Welcome to your new home in the heart of Salem! Blending historical charm with modern touches, this recent down to the stud renovation features 2 Beds, 2 Full Baths, Hardwood floors throughout, Shaker cabinets, Quartz counter tops, Stainless appliances, 9.5 foot ceilings, In-unit washer/dryer, Basement storage, Low condo fee, and more! Enjoy warmer evenings relaxing and grilling on your private patio, or walk to one of the many local restaurants. Your brand new 750 square foot paver stone patio also offers off street parking. This sought after neighborhood is a dream commute to the MBTA Commuter Rail or Salem Ferry. Enjoy all that Salem has to offer right outside your door. A Stone's Throw to Pickering Wharf, The Salem Common, Local Restaurants/Bars/Coffee Shops, The Hawthorne & Waterfront Hotels, The Essex Street Walking Mall, and more! Truly a one of a kind property!

Last Agent to Sell the Property

Herrick Lutts Realty Partners

Herrick Lutts Realty Partners Listed on: 04/21/2022

Co-Listed By

Patrick Sargent

Herrick Lutts Realty Partners

Last Buyer's Agent

Team Lillian Montalto

Lillian Montalto Signature Properties

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $4,836

Year Built

  • Built in 1858 | Remodeled

Lot Details

  • 2,614

Home Design

  • Entry on the 1st floor
  • Frame Construction
  • Shingle Roof
  • Stone

Interior Spaces

  • 794 Sq Ft Home
  • 1-Story Property
  • Open Floorplan
  • Wet Bar
  • Fireplace
  • Picture Window
  • Entryway
  • Wood Flooring
  • Exterior Basement Entry

Kitchen

  • Stove
  • Range
  • Microwave
  • Freezer
  • Dishwasher
  • Kitchen Island
  • Upgraded Countertops
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Home Security

Parking

  • 1 Car Parking Space
  • Off-Street Parking

Location

  • Property is near public transit
  • Property is near schools

Schools

  • Bentley Elementary School
  • Collins Middle School
  • Salem High School

Utilities

  • Window Unit Cooling System
  • 1 Heating Zone
  • Hot Water Heating System
  • Natural Gas Connected
  • Gas Water Heater
  • High Speed Internet
  • Cable TV Available

Additional Features

  • Patio
  • Waterfront

Listing and Financial Details

  • Assessor Parcel Number 5117802

Community Details

Overview

  • Property has a Home Owners Association
  • Association fees include water, sewer, insurance, reserve funds
  • 2 Units

Recreation

  • Park
  • Jogging Path
  • Bike Trail

Pet Policy

  • Pets Allowed

Additional Features

  • Shops
  • Storm Windows

Property Details

Home Type

Condominium

Est. Annual Taxes

$4,836

Year Built

Built in 1858 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub Type: Condominium
  • Structure Type: Detached
  • Year Built: 1858
  • Buyer Agency Type: %
  • Entry Level: 1
  • 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: Hardwood, Flooring - Hardwood
  • Interior Amenities: Closet, Entry Hall, Wet Bar, Internet Available - Broadband
  • Fireplace YN: Yes
  • Appliances: Range,Dishwasher,Disposal,Microwave,Refrigerator,Freezer,Washer,Dryer, Gas Water Heater, Utility Connections for Gas Range
  • Total Bedrooms: 2
  • Room Bedroom2 Level: Main
  • Room Bedroom2 Features: Closet, Flooring - Hardwood
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Room Master Bedroom Features: Closet, Flooring - Hardwood
  • Room Master Bedroom Level: Main
  • Master Bathroom Features: Yes
  • Bathroom 1 Features: Bathroom - Full
  • Bathroom 2 Features: Bathroom - Full
  • Room Kitchen Level: Main
  • Room Kitchen Features: Flooring - Hardwood, Window(s) - Picture, Countertops - Upgraded, Kitchen Island, Cabinets - Upgraded, Remodeled, Gas Stove
  • Laundry Features: In Unit
  • Room Living Room Features: Flooring - Hardwood, Window(s) - Picture, Wet Bar, Cable Hookup, Exterior Access, Open Floorplan
  • Living Area: 794
  • Stories Total: 1
  • Window Features: Storm Window(s)
  • MAIN LO: AN6507
  • MAIN SO: G62122

Exterior Features

  • Construction Materials: Frame, Stone
  • Patio And Porch Features: Patio
  • Roof: Shingle
  • Waterfront Features: Beach Front, Harbor, Ocean, 1/10 to 3/10 To Beach, Beach Ownership(Public)
  • Waterfront YN: Yes

Garage/Parking

  • Garage YN: No
  • Parking Features: Off Street
  • Total Parking Spaces: 1

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range
  • Cooling: Window Unit(s)
  • Heating: Hot Water
  • Cooling Y N: Yes
  • Heating YN: Yes
  • Water Source: Public
  • HEAT ZONES: 1
  • COOLING ZONES: 0

Condo/Co-op/Association

  • Association Fee: 132
  • Association YN: Yes
  • Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Bike Path, Highway Access, Public School, T-Station, University
  • Senior Community YN: No
  • MANAGEMENT: Owner Association

Fee Information

  • Association Fee Includes: Water, Sewer, Insurance, Reserve Funds

Lot Info

  • Parcel Number: 5117802
  • Zoning: R2
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.06
  • Lot Size Sq Ft: 2613.6
  • Lot Size Units: Acres
  • Property Attached YN: No
  • LOT SIZE: 2400
  • OUTDOOR SPACE AVAILABLE: Yes - Private

Rental Info

  • Pets Allowed: Yes

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 4836.2

Multi Family

  • Number Of Units Total: 2
  • Basement Included Sq Ft: No

MLS Schools

  • High School: Salem
  • Elementary School: Bentley
  • Middle Or Junior School: Collins

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 21, 2022
Closed on
May 27, 2022
Sold by
Sargent Patrick and Sargent Sarah L
Bought by
Mayer Rebecca and Strombosky Jerome D
Seller's Agent
Herrick Lutts Realty Partners
Herrick Lutts Realty Partners
Buyer's Agent
Team Lillian Montalto
Lillian Montalto Signature Properties
List Price
$519,900
Sold Price
$525,000
Premium/Discount to List
$5,100
0.98%
Current Estimated Value
$536,069

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$11,069
Avg. Annual Appreciation
0.59%
Original Mortgage
$489,250
Outstanding Balance
$464,828
Interest Rate
5.1%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$71,241

Purchase Details

Closed on
Jan 10, 2020
Sold by
Libby Sarah A
Bought by
Sargent Patrick and Sargent Sarah L

Purchase Details

Listed on
Sep 19, 2019
Closed on
Oct 15, 2019
Sold by
North Beverly Builders
Bought by
Libby Sarah A
Seller's Agent
Herrick Lutts Realty Partners
Herrick Lutts Realty Partners
Buyer's Agent
Herrick Lutts Realty Partners
Herrick Lutts Realty Partners
List Price
$369,000
Sold Price
$370,000
Premium/Discount to List
$1,000
0.27%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.27%
Original Mortgage
$333,000
Interest Rate
3.7%
Mortgage Type
New Conventional
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
Mayer Rebecca $525,000 None Available
Sargent Patrick -- None Available
Libby Sarah A $370,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mayer Rebecca $489,250
Previous Owner Libby Sarah A $333,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/27/2022 05/27/22 Sold $525,000 +1.0% $661 / Sq Ft
04/26/2022 04/26/22 Pending -- -- --
04/21/2022 04/21/22 For Sale $519,900 +40.5% $655 / Sq Ft
10/30/2019 10/30/19 Sold $370,000 +0.3% $398 / Sq Ft View Prior Sale
09/20/2019 09/20/19 Pending -- -- --
09/19/2019 09/19/19 For Sale $369,000 -- $397 / 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 $5,739 $506,100 $0 $506,100
2024 $5,610 $482,800 $0 $482,800
2023 $4,984 $398,400 $0 $398,400
2022 $4,836 $365,000 $0 $365,000
2021 $4,758 $344,800 $0 $344,800
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller Co-Listing Agent in 2022

    Patrick Sargent

    Herrick Lutts Realty Partners

    1 in this area

    15 Total Sales

    Patrick Sargent
    Section Image
  • Team Lillian Montalto

    Buyer's Agent in 2022

    Team Lillian Montalto

    Lillian Montalto Signature Properties

    (978) 815-6301

    6 in this area

    1,011 Total Sales

    Team Lillian Montalto
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72969466

MLS Property Information Network (MLS PIN)

APN: 35-0303-801

Massachusetts Essex County Salem 01970 Derby Street

7 Union St Unit 1, Salem, MA

Not Listed for Sale

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