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48 Essex St # 7, Salem MA 01970

Salem, MA 01970
$440,000
Est. $3,165/month
2
Beds
1
Baths
995
Sq Ft
$442
Price/Sq Ft
1900
Year Built
42
Days on Market
Closed Listed Aug 27, 2025 • MLS# 73422522 Copied!

About this home

Carefully maintained 2-bedroom condo near the Salem Common, Derby and Pickering Wharfs, and Collins Cove. The high ceilings and tall windows provide a very spacious feeling. The hardwood floors, and one off-street parking space make 48 Essex a lovely place to live! Enter into a large, divided front parlor that can be used as living room and dining room and/or home office. The eat-in kitchen features newer appliances, granite counters, and exposed brick for added character. Both bedrooms are generously sized with ample closet space, and the newly remodeled full bathroom offers a walk-in shower with glass doors.. Enjoy added conveniences like laundry and private storage in the basement, plus a shared common deck on the floor.

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
1900
Bedrooms
2
Full Bathrooms
1
Living Area
995 sq ft
Total Rooms
5
Stories
1
Entry Level
3

Sale Statistics

Sale Overview
Original List Price: $500,000
Final Sale Price: $440,000
Difference: $60,000 (-12.0%)
Performance Metrics
88.0%
List to Sale Ratio
Sold below asking price
42
Days on Market
Average time
Price per Square Foot Analysis
Original $/sq ft: $503
Sale $/sq ft: $442
This property sold for $442 per square foot
Sale Summary

This property sold for 12.0% below the original asking price.

The property spent 42 days on market before selling.

Nearby Sales Comparison

Based on 17 similar properties sold within 0.5 miles in the last 90 days

This Property
$442/sq ft
Area Average
$346/sq ft
Difference
+27.8%

This property sold for significantly more per square foot than similar nearby properties, suggesting premium features or condition.

Facts & Features

Home Facts

Type Residential
Style Condominium
Year Built 1900
Living Area 995 sq ft
Bedrooms 2
Full Baths 1
Total Rooms 5

Interior

Heating Baseboard, Natural Gas
Cooling None
Flooring Wood, Carpet, Laminate
Appliances Range, Dishwasher, Disposal, Refrigerator
Fireplace None
Basement Y
Laundry Common Area, In Building
Features Internet Available - Unknown

Exterior

Construction Brick
Architecture None
Roof None
Features Deck - Wood
Pool None
Spa None
Fencing None
Patio/Porch Deck - Wood

Parking

Features Off Street, Assigned
Total Spaces 1

Utilities

Electric None
Water Public
Sewer Public Sewer
Gas None
Other For Gas Range

Financial

Annual Tax $4,106
Assessed Value $362,100

Interior Features

Flooring: Wood, Carpet, Laminate
Appliances: Range, Dishwasher, Disposal, Refrigerator
Interior Features: Internet Available - Unknown
Windows: Insulated Windows
Basement: Y
Laundry: Common Area, In Building
Security: Intercom

Construction & Materials

Year Built: 1900
Effective Year (Renovated): 1986
Structure Type: Garden
Exterior Materials: Brick
Roof:
Foundation:
Stories: 1

Heating, Cooling & Utilities

Heating: Baseboard, Natural Gas
Heating Zones: 1
Cooling: None
Hot Water:
Water Source: Public
Sewer: Public Sewer
Energy Features:

Exterior & Lot

Exterior Features: Deck - Wood
Patio & Porch: Deck - Wood
Fencing:
Other Structures:
Lot Features:
Road Surface:

Parking & Garage

Total Parking Spaces: 1
Parking Features: Off Street, Assigned

Location

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Neighborhood

48 Essex St # 7, Salem MA 01970

Salem, MA 01970

Walkability

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Nearby Schools

School District
Salem School District local
B-
School Safety 2024-25
3.6% Above Average
2.3% Suspensions 0.8% In-School 1.3% Emergency
1.9% below state avg
E

Elementary Schools

3 schools
C+
Bentley Academy Innovation School
0.5 mi | #568 of 824 | Score: 42.3
Improved 143 spots from last year
-16 below state avg
286 students Moderate
Rising School
Grades PK-05
Salem Early Childhood School
0.5 mi
106 students Diverse
Diverse Student Body
Grades PK
B-
Carlton School
0.6 mi | #468 of 824 | Score: 45.6
Dropped 47 spots from last year
-12.6 below state avg
247 students Diverse
Grades K-05
M

Middle Schools

3 schools
C+
Collins Middle School
1.2 mi | #219 of 352 | Score: 39.5
Improved 60 spots from last year
-18.7 below state avg
611 students Diverse
Rising School Diverse Student Body
Grades 06-08
B+
Village School
1.7 mi | #253 of 824 | Score: 52.3
Dropped 64 spots from last year
-5.9 below state avg
529 students Moderate
Grades 04-06
B+
Marblehead Community Charter Public School
2.0 mi | #115 of 352 | Score: 48.0
Improved 94 spots from last year
-10.2 below state avg
192 students Moderate
Rising School Strong Attendance
Grades 04-08
H

High Schools

3 schools
B+
Salem Academy Charter School
0.5 mi | #139 of 346 | Score: 56.7
Improved 97 spots from last year
-1.5 below state avg
480 students Diverse
10 sports • 568 athletes
High Graduation Rate Rising School College Ready Curriculum
Grades 06-12
B
Salem High School
1.8 mi | #144 of 346 | Score: 56.1
Dropped 24 spots from last year
-2.1 below state avg
952 students Diverse
18 sports • 1,080 athletes
Early College Program Career Tech Programs College Ready Curriculum Strong Athletics
Grades 09-12
Bishop Fenwick High School
1.8 mi
17 sports • 1,390 athletes
Strong Athletics
Grades 09-12
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Monthly Payment Calculator

Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%

Monthly Payment Breakdown

Principal & Interest $0
Property Tax $342
Homeowners Insurance $200
HOA Fee $398/mo
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

-0.5% Rate
$0/mo
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo

Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Property History

Market Insights

6.4%
Price Range
44
Total Days on Market

Property Timeline

Sold
Nov 20, 2025
$440,000
Property sold
Days on Market: 44
🏠
Listed for Sale
Aug 27, 2025
$469,900
Original listing
Agent: Susan Berton Office: Churchill Properties

Price & Status History

Date Event Price Change
Aug 27, 2025 New Listing Added $469,900

Market Statistics

Days on Market
42 days
Price per Sq Ft
$442

Tax History

Year Taxes Assessment
2025 $4,106 $362,100

Financial Details

Annual Property Tax
$4,106
Tax Year 2025
HOA Fee
$398
Monthly
Assessed Value
$362,100

Listing Information

Listing Office Churchill Properties
Agent MLS ID C9500900
Office MLS ID AN7537
Listing Data Updated Nov 20, 2025 3:56 PM EST
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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Market Analytics for Salem, MA

Real-time market trends and pricing data for this area

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