$434,000
●
Condo -
Off Market
5 Derby Square #1
Salem, MA 01970
2 Beds
1 Bath,
1
Half Bath
1,754 Ft²
$705,587
RealtyHop Estimate
60.73%
Since Apr 1, 2017
MA-Boston
Primary Model
About This Property
The Ultimate in Urban Chic!! Located in the heart of downtown Salem
in the c.1817 former home of the Bancroft Tavern-shops,
restaurants, train all within 5 minutes! This Uber Cool townhouse
complete w/exposed brick walls & floors, a huge central fireplace &
original built-in bar! If you are looking for Unique - this is it!
The spacious and open concept living area will be the envy of all
your friends as entertaining is a breeze! The granite and stainless
kitchen features a large peninsula with seating for 6 while the
dining area boasts a granite-topped built-in buffet cabinet and
HUGE walk-in pantry with custom shelving and French Doors! The
highlight is of course the raised fireplace and hearth that is sure
to keep you warm on the snowy nights ahead! Both bedrooms access
the full bath w/jaccuzzi tub and glass tile surround and floor!
Laundry is in the 1/2 bath on the lower level along with a separate
office. Bonus: central a/c, HUGE walk-in closet, private Patio &
fee includes heat!
Unit Size
1,754 Ft²
Days on Market
-
Land Size
-
Price per sqft
$250
Property Type
Condo
Property Taxes
$432
HOA Dues
$239
Year Built
-
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 5 months ago (MLSPIN #72088316)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 17, 2021 | Sold | ||
| Sold | |||
| Nov 2, 2021 | Listed by eXp Realty | $485,000 | |
| Listed by eXp Realty | |||
| | |||
|
Located between Essex and Front St and adjacent to the Old Town Hall and Hotel Salem, this property screams city living. Step out your door and you'll immediately feel the energy of this great city. Built in 1817 and recorded in the National Register of Historic Places, this property was once a working tavern and even has the original bar and brass fixtures still in tact! This unit has a super unique floorplan. The main level is home to both of the spacious bedrooms and tastefully designed jack and jill bathroom. Head downstairs through an elegant stairwell with ornate woodworking and period details to find a massive open concept kitchen/dining/living room with original brick floors that is anchored by a fully functioning wood burning fireplace! This space would be fantastic for entertaining! Also on this level is a 1/2 bath with laundry and a bonus room. If you are looking for a turn key condo in a well managed building just moments from all the action in Salem...THIS. IS. IT!
| |||
| Sep 25, 2020 | No longer available | - | |
| No longer available | |||
| Aug 31, 2020 | Listed | $540,000 | |
| Listed | |||
| | |||
|
Super spacious and one of a kind Condo right in the heart of Downtown Salem! Located steps from the Old Town Hall in Derby Square, this condo was once the home of the Bancroft Tavern in 1817. Now its the Hottest NEW condo on the market!! Fully renovated, while retaining plenty of old world charm, exposed brick and original finished wood trim throughout the Bi-level condo. Modern Bathroom and Kitchen with brand new cabinets! Private building common area! 1/4 mile to the train, 1/2 mile to the beach, 1/3 mile to lovelly Pickering wharf, This really is right in the heart of Salem! And it comes with off street garage parking! If youve been looking for that one of a kind downtown condo that captures the downtown life of Salem, stop looking and move quick because this is what everyone else is looking for too and it wont last! The manager has listed the unit size as 1754 square feet.
| |||
| Mar 30, 2017 | Sold | ||
| Sold | |||
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Property Highlights
Parking Available
Air Conditioning
Fireplace
Interior Details
Half Bathrooms: 1
Full Bathrooms: 1
Interior Features: Office
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
Flooring Type: Wood, Tile, Laminate, Other
Laundry Features: In Basement, In Unit, Bathroom - Half
Rooms: 6
Has Fireplace
Fireplace Features: Living Room
Fireplaces: 1
Basement: Y
Exterior Details
Has Property Attached
Square Footage: 1754
Year Built Source: Public Records
Year Built: 1817
Waterfront Features: 1/2 to 1 Mile To Beach
Building Area Total: 1754
Building Area Units: Square Feet
Construction Materials: Brick
Patio and Porch Features: Patio - Enclosed
Lot Size Units: Acres
Water Source: Public
Financial Details
Tax Assessed Value: $330,500
Tax Annual Amount: $5,179
Utilities Details
Cooling Type: Central Air
Heating Type: Forced Air, Natural Gas
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Water, Sewer, Insurance, Maintenance Structure, Heat
HOA/Condo/Coop Amenities: Hot Water
HOA Fee: $239
HOA Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
11/02/2021
|
2 Bed
|
2 Bath
|
1754 ft²
|
$485,000
2 Bed
2 Bath
1754 ft²
|
$495,000
+2.06%
12/17/2021
|
Justin Repp
Keller Williams Realty
| |
|
08/31/2020
|
2 Bed
|
2 Bath
|
1754 ft²
|
$540,000
2 Bed
2 Bath
1754 ft²
|
-
-
|
-
| |
|
04/24/2017
|
2 Bed
|
2 Bath
|
1600 ft²
|
$425,000
2 Bed
2 Bath
1600 ft²
|
$480,000
+12.94%
06/28/2017
|
Pam McKee Team
Keller Williams Realty Evolution
| |
|
11/01/2016
|
2 Bed
|
1 Bath
|
1754 ft²
|
$439,000
2 Bed
1 Bath
1754 ft²
|
$434,000
-1.14%
03/30/2017
|
Pam McKee Team
Keller Williams Realty Evolution
| |
|
08/11/2015
|
2 Bed
|
2 Bath
|
1292 ft²
|
$334,900
2 Bed
2 Bath
1292 ft²
|
$341,000
+1.82%
10/09/2015
|
Marie Farrar
Realty Executives
| |
|
04/27/2013
|
2 Bed
|
2 Bath
|
1292 ft²
|
$299,900
2 Bed
2 Bath
1292 ft²
|
$295,000
-1.63%
05/23/2013
|
Kathleen Fabrizio
J. Barrett & Company
| |
|
07/19/2011
|
2 Bed
|
2 Bath
|
1600 ft²
|
$255,000
2 Bed
2 Bath
1600 ft²
|
$235,000
-7.84%
05/01/2012
|
Gary Blattberg
RE/MAX 360
| |
|
10/14/2010
|
2 Bed
|
2 Bath
|
1600 ft²
|
$269,900
2 Bed
2 Bath
1600 ft²
|
-
-
|
Gary Blattberg
RE/MAX 360
| |
|
12/18/2006
|
2 Bed
|
1 Bath
|
1754 ft²
|
$385,000
2 Bed
1 Bath
1754 ft²
|
$375,000
-2.60%
06/28/2007
|
Pamela McKee
Keller Williams Realty Evolution
| |
|
04/26/2003
|
2 Bed
|
2 Bath
|
1292 ft²
|
$299,900
2 Bed
2 Bath
1292 ft²
|
$299,900
08/28/2003
|
Peter Albano
Albano Realty Group
| |
|
06/06/1997
|
2 Bed
|
2 Bath
|
1462 ft²
|
$115,000
2 Bed
2 Bath
1462 ft²
|
$105,000
-8.70%
11/28/1997
|
Walter Cook
Coldwell Banker Residential Brokerage - Salem
| |
|
02/28/1997
|
2 Bed
|
2 Bath
|
1754 ft²
|
$118,000
2 Bed
2 Bath
1754 ft²
|
$100,000
-15.25%
06/30/1997
|
Jody Lalonde
Dewolfe-Swampscott
|
Building Info
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