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5 Majestic Way # 5, Salem MA 01970

Salem, MA 01970
$417,000
Est. $3,004/month
1
Beds
1.5
Baths
1,049
Sq Ft
$398
Price/Sq Ft
1986
Year Built
35
Days on Market
Closed Listed Oct 24, 2024 • MLS# 73305755 Copied!

About this home

Welcome to the sought-after Hamlet Complex, where tranquility meets modern living. This beautifully designed and freshly painted 1 bed, 1.5 bath unit features an open-concept layout that seamlessly blends comfort and style. Enjoy a morning walk or take in the changing foliage from your new windows or front porch, all while being so close to all the conveniences that living in the North Shore provides. Enter into LR with cathedral ceilings and fireplace. Kitchen with granite counters and hardwood is open to dining area. Bedroom with high ceilings and private bath. Perfectly located less than 10 mins to the Commuter Rail, Vinnin Square, Whole Foods & all the restaurants & shopping that downtown Salem has to offer. Complex is pet friendly and professionally maintained. Enjoy the perks of a low-maintenance lifestyle while still feeling connected to nature and the vibrant community around you. Don’t miss out on this opportunity for a peaceful retreat in a highly sought-after location!

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
1986
Bedrooms
1
Full Bathrooms
1
Half Bathrooms
1
Living Area
1,049 sq ft
Total Rooms
4
Stories
2
Entry Level
1

Sale Statistics

Sale Overview
Original List Price: $439,900
Final Sale Price: $417,000
Difference: $22,900 (-5.2%)
Performance Metrics
94.8%
List to Sale Ratio
Sold below asking price
35
Days on Market
Average time
Price per Square Foot Analysis
Original $/sq ft: $419
Sale $/sq ft: $398
This property sold for $398 per square foot
Sale Summary

This property sold for 5.2% below the original asking price.

The property spent 35 days on market before selling.

Nearby Sales Comparison

Based on 5 similar properties sold within 0.5 miles in the last 90 days

This Property
$398/sq ft
Area Average
$264/sq ft
Difference
+50.9%

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

Facts & Features

1 Car Garage
Central AC

Home Facts

Type Residential
Style Condominium
Year Built 1986
Living Area 1,049 sq ft
Bedrooms 1
Full Baths 1
Half Baths 1
Total Rooms 4

Interior

Heating Forced Air, Natural Gas
Cooling Central Air
Flooring Wood, Tile, Carpet, Flooring - Stone/ceramic Tile
Appliances Range, Dishwasher, Microwave, Refrigerator, Washer, Dryer
Fireplace Living Room
Fireplaces 1
Basement N
Laundry In Basement, In Unit
Features Closet, Entrance Foyer

Exterior

Construction Frame
Architecture None
Roof Shingle
Features Porch
Pool None
Spa None
Fencing None
Patio/Porch Porch

Parking

Garage Spaces 1
Has Garage Yes
Features Under, Off Street
Total Spaces 2

Utilities

Electric Circuit Breakers
Water Public
Sewer Public Sewer
Gas None
Other None

Financial

Annual Tax $4,477
Assessed Value $385,300

Interior Features

Flooring: Wood, Tile, Carpet, Flooring - Stone/Ceramic Tile
Appliances: Range, Dishwasher, Microwave, Refrigerator, Washer, Dryer
Interior Features: Closet, Entrance Foyer
Windows:
Basement: N
Laundry: In Basement, In Unit
Security:

Construction & Materials

Year Built: 1986
Structure Type: Townhouse
Exterior Materials: Frame
Roof: Shingle
Foundation:
Stories: 2

Heating, Cooling & Utilities

Heating: Forced Air, Natural Gas
Heating Zones: 1
Cooling: Central Air
Cooling Zones: 1
Hot Water:
Water Source: Public
Sewer: Public Sewer
Energy Features:

Exterior & Lot

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

Parking & Garage

Garage Spaces: 1
Garage Type: Attached
Total Parking Spaces: 2
Parking Features: Under, Off Street

Special Features

Fireplaces: 1
Fireplace Type: Living Room
Community Amenities: Public Transportation, Shopping, Park, Walk/Jog Trails, Highway Access, House of Worship, Private School, Public School, University

Location

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Neighborhood

5 Majestic Way # 5, Salem MA 01970

Salem, MA 01970

Walkability

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Nearby Schools

School information not available for this location.

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 $373
Homeowners Insurance $200
HOA Fee $322/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

4.1%
Price Range
37
Total Days on Market

Property Timeline

Sold
Jan 24, 2025
$417,000
Property sold
Days on Market: 37
🏠
Listed for Sale
Oct 24, 2024
$434,900
Original listing
Agent: Team Blue Office: ERA Key Realty Services

Price & Status History

Date Event Price Change
Oct 24, 2024 New Listing Added $434,900

Market Statistics

Days on Market
35 days
Price per Sq Ft
$398

Tax History

Year Taxes Assessment
2024 $4,477 $385,300

Financial Details

Annual Property Tax
$4,477
Tax Year 2024
HOA Fee
$322
Monthly
Assessed Value
$385,300

Listing Information

Listing Agent Team Blue
Listing Office ERA Key Realty Services
Agent MLS ID TEAM0456
Office MLS ID AN3576
Listing Data Updated Jan 27, 2025 10:39 AM EST
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

Comparable Properties

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Market Analytics for Salem, MA

Real-time market trends and pricing data for this area

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