$295,000
●
Condo -
Off Market
5 Derby Square #4
Salem, MA 01970
2 Beds
2 Baths
1,292 Ft²
$582,780
RealtyHop Estimate
94.32%
Since Jun 1, 2013
MA-Boston
Primary Model
About This Property
Unique loft style condo located in the heart of downtown Salem.
Brick "Federalist" conversion with 2 bedrooms and 2 baths with lots
of recent upgrades. New kitchen with stainless steel, granite and
custom cherry cabinets. Hardwood floors, historical woodwork and
exposed beams. New heat and central air.
Unit Size
1,292 Ft²
Days on Market
-
Land Size
-
Price per sqft
$232
Property Type
Condo
Property Taxes
$317
HOA Dues
$175
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: 4 years ago (MLSPIN #71516078)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 9, 2015 | Sold | ||
| Sold | |||
| Aug 11, 2015 | Listed by Realty Executives | $334,900 | |
| Listed by Realty Executives | |||
| | |||
|
Welcome to the heart of historic downtown Salem. A commuter's dream! This condo is a mix of old world charm with modern touches. Original exposed bricks walls, wood beams, and wood staircase leading to a loft, blend with a beautifully remodeled kitchen boasting cherry cabinets, granite countertops, and stainless appliances. Wood floors throughout! Outdoor space for entertaining, along with an open concept kitchen/living area. Lots of storage in this updated unit. Central air and gas heat. Come enjoy all that downtown Salem has to offer all within less than 1/2 mile to the commuter rail. Deeded parking space included! ALL OFFERS TO BE REVIEWED MONDAY 8/17 AT 5PM.
| |||
| May 23, 2013 | Sold | ||
| Sold | |||
| Apr 27, 2013 | Listed by J. Barrett & Company | $299,900 | |
| Listed by J. Barrett & Company | |||
Property Highlights
Air Conditioning
Parking Available
Interior Details
Level: Second
Features: Cathedral Ceiling(s), Beamed Ceilings, Flooring - Wood, Countertops - Stone/Granite/Solid, Kitchen Island, Cabinets - Upgraded, Country Kitchen, Remodeled
Level: Main
Features: Bathroom - Full, Flooring - Wood, Remodeled
Features: Bathroom - Full, Cathedral Ceiling(s), Walk-In Closet(s)
Level: Third
Level: Second
Features: Cathedral Ceiling(s), Beamed Ceilings, Flooring - Wood
Features: Yes
Full Bathrooms: 2
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Gas Water Heater, Utility Connections for Electric Range, Utility Connections for Gas Dryer
Flooring Type: Wood, Tile
Laundry Features: Washer Hookup
Rooms: 4
Has Fireplace
Fireplaces: 1
Basement: N
Parking Details
Parking Features: Off Street
Exterior Details
Entry Level: 2
Year Built Source: Public Records
Year Built Details: Approximate
PropertySubType: Condominium
Building Name: 5-7 Derby Square Condo
Structure Type: Townhouse
Stories (Total): 2
Building Area Units: Square Feet
Construction Materials: Brick
Lead Paint: Unknown
Lot Size Units: Acres
Zoning: B5
Parcel Number: 2136657
Water Source: Public
Financial Details
Tax Map Number: 35
Tax Assessed Value: $252,100
Tax Annual Amount: $3,802
Utilities Details
Utilities: for Electric Range, for Gas Dryer, Washer Hookup
Cooling Type: Central Air
Heating Type: Baseboard, Natural Gas
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Heat, Gas, Water, Sewer, Insurance, Maintenance Structure, Maintenance Grounds
HOA/Condo/Coop Amenities: Hot Water
Association Fee Frequency: Monthly
HOA Fee: $175
Community Features: Public Transportation, Shopping, T-Station, University
Pets Allowed: Yes
Complex is Completed
Management: Professional - Off Site
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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