$403,321
●
Condo -
Off Market
51 Lafayette #607
Salem, MA 01970
2 Beds
2 Baths
1,500 Ft²
$635,683
RealtyHop Estimate
67.28%
Since Jul 1, 2016
MA-Boston
Primary Model
About This Property
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. 2 Bedrooms, 2 Full Baths, maple kitchen
cabinets, granite counters, high efficiency HVAC. BUILDING - Two
elevators, gated drive-through and entrances on two streets.
Central sky lit atrium and meeting space. This is an AS-IS Sale. .
Listing Agent has limited information. No phone calls please, email
all questions. Buyer to assume OUTSTANDING ASSESSMENT .Buyer and
Buyer's Agent to do all due diligence.
Unit Size
1,500 Ft²
Days on Market
-
Land Size
-
Price per sqft
$253
Property Type
Condo
Property Taxes
$511
HOA Dues
$646
Year Built
-
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Cap Rate Calculator
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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 years ago (MLSPIN #71986183)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 7, 2016 | Sold | ||
| Sold | |||
| Apr 11, 2016 | Listed by Good Deeds Realty Partners | $380,000 | |
| Listed by Good Deeds Realty Partners | |||
Property Highlights
Air Conditioning
Interior Details
Features: Yes
Full Bathrooms: 2
Appliances: None, Gas Water Heater
Flooring Type: Wood, Tile
Rooms: 4
Basement: N
Parking Details
Parking Features: None
Exterior Details
Has Property Attached
Entry Level: 6
Year Built Source: Appraiser
Year Built Details: Actual
PropertySubType: Condominium
Structure Type: Mid-Rise
Stories (Total): 6
Building Area Units: Square Feet
Window Features: Insulated Windows
Patio and Porch Features: Deck
Lead Paint: Unknown
Lot Size Units: Acres
Parcel Number: 4533462
Water Source: Public
Financial Details
Tax Assessed Value: $391,500
Tax Annual Amount: $6,134
Utilities Details
Cooling Type: Central Air
Heating Type: Central
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Water, Sewer, Insurance, Security, Maintenance Structure, Maintenance Grounds, Snow Removal, Trash
HOA/Condo/Coop Amenities: Elevator(s)
Association Fee Frequency: Monthly
HOA Fee: $646
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 |
|---|---|---|---|---|---|---|---|
|
11/08/2022
|
2 Bed
|
2 Bath
|
1578 ft²
|
$559,000
2 Bed
2 Bath
1578 ft²
|
$540,000
-3.40%
12/15/2022
|
Michelle Doyle
Flow Realty, Inc.
| |
|
06/02/2021
|
2 Bed
|
2 Bath
|
1440 ft²
|
$564,000
2 Bed
2 Bath
1440 ft²
|
$564,000
07/19/2021
|
Merry Fox Team
MerryFox Realty
| |
|
04/15/2021
|
2 Bed
|
2 Bath
|
1581 ft²
|
$499,000
2 Bed
2 Bath
1581 ft²
|
$500,000
+0.20%
06/01/2021
|
Ryan Guilmartin
Keller Williams Realty
| |
|
04/06/2017
|
2 Bed
|
2 Bath
|
1545 ft²
|
$429,000
2 Bed
2 Bath
1545 ft²
|
$440,000
+2.56%
05/31/2017
|
Sarah Myles-Lennox
MerryFox Realty
| |
|
04/11/2016
|
2 Bed
|
2 Bath
|
1500 ft²
|
$380,000
2 Bed
2 Bath
1500 ft²
|
$403,321
+6.14%
06/07/2016
|
Amit Anand
Equinox Properties
| |
|
12/04/2015
|
2 Bed
|
2 Bath
|
1576 ft²
|
$369,000
2 Bed
2 Bath
1576 ft²
|
$367,000
-0.54%
03/22/2016
|
John Farrell
Coldwell Banker Realty - Beverly
| |
|
05/13/2010
|
2 Bed
|
2 Bath
|
1527 ft²
|
$299,000
2 Bed
2 Bath
1527 ft²
|
$260,000
-13.04%
11/19/2010
|
Merry Fox Team
MerryFox Realty
|
Building Info
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