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51 Lafayette Street # 304, Salem MA 01970

Salem, MA 01970 • Downtown
$589,000
Est. $4,167/month
2
Beds
2
Baths
1,620
Sq Ft
$364
Price/Sq Ft
0.48
Acres
2003
Year Built
82
Days on Market
Closed Listed Jun 7, 2025 • MLS# 73387368 Copied!

About this home

Fabulous sunny, southeast side, corner unit with water views! Experience modern luxury living at its finest at the Derby Lofts Condos located on Lafayette Street in beautiful historic Salem. Enjoy easy living with two bedrooms, two bathrooms in an open layout with new appliances and an updated primary bath. Walls of glass and picture window overlook Derby Street and the South River Canal. The building provides two high-speed elevators for convenience and specialty shops, boutiques, and restaurants on the first floor, but there’s also plenty of shopping and dining options nearby. For commuters, the complex is in close proximity to commuter rail and the Boston Harbor Ferry. Unit comes with two parking passes to the municipal Harbor Street garage.

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
2003
Bedrooms
2
Full Bathrooms
2
Living Area
1,620 sq ft
Total Rooms
4
Stories
1
Entry Level
3

Sale Statistics

Sale Overview
Original List Price: $589,000
Final Sale Price: $589,000
Difference: +$0 (+0.0%)
Performance Metrics
100.0%
List to Sale Ratio
Sold at asking price
82
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft: $364
Sale $/sq ft: $364
This property sold for $364 per square foot
Sale Summary

This property sold exactly at the asking price.

The property spent 82 days on market before selling.

Nearby Sales Comparison

Based on 18 similar properties sold within 0.5 miles in the last 90 days

This Property
$364/sq ft
Area Average
$329/sq ft
Difference
+10.6%

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

Facts & Features

2 Car Garage
Central AC

Home Facts

Type Residential
Style Condominium
Year Built 2003
Living Area 1,620 sq ft
Lot Size 0.48 acres
Bedrooms 2
Full Baths 2
Total Rooms 4

Interior

Heating Forced Air, Natural Gas
Cooling Central Air
Flooring Wood, Tile
Appliances Range, Dishwasher, Disposal, Microwave, Refrigerator, Freezer, Washer, Dryer
Fireplace None
Basement N
Laundry Third Floor, In Unit
Features Elevator

Exterior

Construction Stone
Architecture None
Roof Shingle
Features City View(s)
Pool None
Spa None
Fencing None
Patio/Porch None

Parking

Garage Spaces 2
Has Garage Yes
Features Detached
Total Spaces 4

Utilities

Electric None
Water Public
Sewer Public Sewer
Gas None
Other None

Financial

Annual Tax $5,855
Assessed Value $516,300

Interior Features

Flooring: Wood, Tile
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Freezer, Washer, Dryer
Interior Features: Elevator
Windows:
Basement: N
Laundry: Third Floor, In Unit
Security:

Construction & Materials

Year Built: 2003
Structure Type: High-Rise
Exterior Materials: Stone
Roof: Shingle
Foundation:
Stories: 1

Heating, Cooling & Utilities

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

Exterior & Lot

Exterior Features: City View(s)
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:

Parking & Garage

Garage Spaces: 2
Total Parking Spaces: 4
Parking Features: Detached

Special Features

View: Yes
View Type: City
Community Amenities: Public Transportation, Shopping, Park, Bike Path, Highway Access, House of Worship, Marina, Public School, T-Station, University

Location

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Neighborhood

Downtown

51 Lafayette Street # 304, 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 $488
Homeowners Insurance $200
HOA Fee $501/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

83
Total Days on Market

Property Timeline

Sold
Oct 1, 2025
$589,000
Property sold
Days on Market: 83
🏠
Listed for Sale
Jun 7, 2025
$589,000
Original listing
Agent: Sophie Soman Office: LandVest, Inc., Manchester -by-the-Sea

Price & Status History

Date Event Price Change
Jun 7, 2025 New Listing Added $589,000

Market Statistics

Days on Market
82 days
Price per Sq Ft
$364

Tax History

Year Taxes Assessment
2025 $5,855 $516,300

Financial Details

Annual Property Tax
$5,855
Tax Year 2025
HOA Fee
$501
Monthly
Assessed Value
$516,300

Listing Information

Listing Agent Sophie Soman
Listing Office LandVest, Inc., Manchester -by-the-Sea
Agent MLS ID C8000597
Office MLS ID AN4825
Listing Data Updated Oct 1, 2025 9:19 AM EDT
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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