$480,000
●
Condo -
Off Market
5 Derby Square #3
Salem, MA 01970
2 Beds
2 Baths
1,600 Ft²
$665,706
RealtyHop Estimate
56.64%
Since Jul 1, 2017
MA-Boston
Primary Model
About This Property
TRULY One of a kind Ultra Hip 1600 sq ft, 2 bedroom/2 full bath
brick townhouse smack in the heart of Historic Salem w/a deeded
parking space! This unique Loft Style unit is the total package
with exposed brick in every room, hardwood floors, cathedral
ceilings, fantastic wooden balusters - all on 2 spacious levels.
Meticulously maintained and updated with an artistic eye, this
residence blends urban style with the classic brick and beam loft
look. With the newly remodeled master bathroom that includes a
glass shower, vessel sink and tile floor, a skylight in the
huge master bedroom, great city views, industrial chic
lighting fixtures, incredible storage and an open concept living
area, this space has it all. Bonus: central a/c, gas heat & hot
water included in a low fee, a huge walk-in closet and a private
(and spacious) deck. Literally steps to all that downtown Salem has
to offer while being less than a 1/2 mile to the commuter rail. You
Do NOT want to miss this RARE opportunity!
Unit Size
1,600 Ft²
Days on Market
-
Land Size
-
Price per sqft
$266
Property Type
Condo
Property Taxes
$446
HOA Dues
$229
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 #72152359)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 28, 2017 | Sold | ||
| Sold | |||
| Apr 24, 2017 | Listed by Good Deeds Realty Partners | $425,000 | |
| Listed by Good Deeds Realty Partners | |||
| | |||
|
TRULY One of a kind Ultra Hip 1600 sq ft, 2 bedroom/2 full bath brick townhouse smack in the heart of Historic Salem w/a deeded parking space! This unique Loft Style unit is the total package with exposed brick in every room, hardwood floors, cathedral ceilings, fantastic wooden balusters - all on 2 spacious levels. Meticulously maintained and updated with an artistic eye, this residence blends urban style with the classic brick and beam loft look. With the newly remodeled master bathroom that includes a glass shower, vessel sink and tile floor, a skylight in the huge master bedroom, great city views, industrial chic lighting fixtures, incredible storage and an open concept living area, this space has it all. Bonus: central a/c, gas heat & hot water included in a low fee, a huge walk-in closet and a private (and spacious) deck. Literally steps to all that downtown Salem has to offer while being less than a 1/2 mile to the commuter rail. You Do NOT want to miss this RARE opportunity!
| |||
| May 1, 2012 | Sold | ||
| Sold | |||
| Jul 19, 2011 | Listed by J. Barrett & Company | $255,000 | |
| Listed by J. Barrett & Company | |||
| | |||
|
Spectacular 1600 sq ft, 2 bdrm/2 bth Condo in C. 1817 Benjamin Pickman "Federalist" brick 1994 conversion right in the pulsating Heart of Historic Salem. Unique Loft Style unit is the "Total" package. 1-car Parking, exposed original brick, rear balcony, cathedral ceilings, fantastic wooden balusters, 2 levels w full lofted master bdm w/ master bthrm (exposed brick), central a/c.Charm, character & style united into one incredible location.A most rare opportunity to live in Historic Salem.Pets OK
| |||
| Oct 14, 2010 | Listed by RE/MAX Advantage Real Estate | $269,900 | |
| Listed by RE/MAX Advantage Real Estate | |||
 | |||
|
Spectacular 1600 sq ft, 2 bdrm/2 bth Condo in C. 1817 Benjamin Pickman "Federalist" brick 1994 conversion right in the pulsating Heart of Historic Salem. Unique Loft Style unit is the "Total" package. 1-car Parking, exposed original brick, rear balcony, cathedral ceilings, fantastic wooden balusters, 2 levels w full lofted master bdm w/ master bthrm (exposed brick), central a/c.Charm, character & style united into one incredible location.A most rare opportunity to live in Historic Salem.Pets OK
| |||
Property Highlights
Parking Available
Air Conditioning
Parking Details
Parking Features: Deeded
Interior Details
Full Bathrooms: 2
Interior Features: Walk-In Closet(s), Entry Hall
Appliances: Range, Dishwasher, Disposal, Refrigerator, Washer, Dryer, Range Hood
Flooring Type: Wood, Tile
Laundry Features: In Unit, Second Floor
Rooms: 5
Basement: N
Exterior Details
Has Property Attached
Square Footage: 1600
Year Built Source: Public Records
Year Built: 1817
Waterfront Features: 1/2 to 1 Mile To Beach
Building Name: 5-7 Derby Square Condominium
Building Area Total: 1600
Building Area Units: Square Feet
Construction Materials: Brick
Patio and Porch Features: Deck
Lot Size Units: Acres
Water Source: Public
Financial Details
Tax Assessed Value: $337,600
Tax Annual Amount: $5,354
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, Heat
HOA/Condo/Coop Amenities: Hot Water
HOA Fee: $229
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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