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51 Lafayette Street # 609, Salem MA 01970

Salem, MA 01970
$425,000
Est. $3,382/month
2
Beds
2
Baths
1,520
Sq Ft
$280
Price/Sq Ft
0.48
Acres
2003
Year Built
186
Days on Market
Closed Listed Feb 12, 2016 • MLS# 71958414 Copied!

About this home

Derby Lofts – Rare to market corner penthouse unit, 1520 SF +161 SF balcony / deck - Experience Modern Sophisticated Loft Living in Downtown Salem only 5 blocks to commuter rail & 11 to Boston Harbor Ferry. Experience sweeping city views with 10'+ ceilings, tons of light & windows, maple floors, 2 Bedrooms, 2 Full Baths (1 Ensuite), maple kitchen cabinets, granite counters, stainless steel finish kitchen appliances, high efficiency HVAC, in-unit Washer & Dryer. BUILDING - Two elevators, gated drive-through and entrances on two streets. Easy living at its best, central sky lit atrium and meeting space. FIRST FLOOR SHOPS - cheese shop, curios shop, pizza parlor, cosmetics store, hair salon/spa, coffee house within A&J artisan bakery. NEIGHBORHOOD - restaurants, museums - Peabody Essex, national landmarks, Arts & Music Venues, 1 mile river and harbor walk along water's edge to Derby Wharf Light. Experience Derby Lofts in the center of Destination Salem. - Fresh paint, newly sanded floors

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
2003
Bedrooms
2
Full Bathrooms
2
Living Area
1,520 sq ft
Total Rooms
4
Stories
1
Entry Level
6

Sale Statistics

Sale Overview
Original List Price: $445,000
Final Sale Price: $425,000
Difference: $20,000 (-4.5%)
Performance Metrics
95.5%
List to Sale Ratio
Sold below asking price
186
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft: $293
Sale $/sq ft: $280
This property sold for $280 per square foot
Sale Summary

This property sold for 4.5% below the original asking price.

At 186 days on market, this property took longer than average to sell.

Nearby Sales Comparison

Based on 15 similar properties sold within 0.5 miles in the last 90 days

This Property
$280/sq ft
Area Average
$331/sq ft
Difference
15.3%

This property sold below the area average, potentially representing good value for the buyer.

Facts & Features

2 Car Garage
Central AC

Home Facts

Type Residential
Style Condominium
Year Built 2003
Living Area 1,520 sq ft
Lot Size 0.48 acres
Bedrooms 2
Full Baths 2
Total Rooms 4

Interior

Heating Central, Forced Air, Natural Gas, Energy Star Qualified Equipment
Cooling Central Air, Energy Star Qualified Equipment
Flooring Wood, Tile, Hardwood, Engineered Hardwood
Appliances Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Plumbed For Ice Maker
Fireplace None
Basement N
Laundry In Unit, Gas Dryer Hookup, Washer Hookup
Features Closet, Entrance Foyer, Finish - Sheetrock

Exterior

Construction Stone
Architecture None
Roof Rubber
Features Deck, Balcony
Pool None
Spa None
Fencing None
Patio/Porch Deck

Parking

Garage Spaces 2
Has Garage Yes
Features Common, Leased
Total Spaces 4

Utilities

Electric 110 Volts, Circuit Breakers
Water Public
Sewer Public Sewer
Gas None
Other For Gas Range, For Gas Oven, For Gas Dryer, Washer Hookup, Icemaker Connection

Financial

Annual Tax $5,691
Assessed Value $363,200

Interior Features

Flooring: Wood, Tile, Hardwood, Engineered Hardwood
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Plumbed For Ice Maker
Interior Features: Closet, Entrance Foyer, Finish - Sheetrock
Windows:
Basement: N
Laundry: In Unit, Gas Dryer Hookup, Washer Hookup
Security: Intercom

Construction & Materials

Year Built: 2003
Effective Year (Renovated): 2003
Structure Type: High-Rise
Exterior Materials: Stone
Roof: Rubber
Foundation:
Stories: 1

Heating, Cooling & Utilities

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

Exterior & Lot

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

Parking & Garage

Garage Spaces: 2
Total Parking Spaces: 4
Parking Features: Common, Leased

Location

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Neighborhood

51 Lafayette Street # 609, 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
B-
Saltonstall School
0.5 mi | #460 of 824 | Score: 45.8
Improved 108 spots from last year
-12.4 below state avg
412 students Diverse
Rising School
Grades K-05
B-
Carlton School
0.8 mi | #468 of 824 | Score: 45.6
Dropped 47 spots from last year
-12.6 below state avg
247 students Diverse
Grades K-05
The Phoenix School
0.9 mi
Grades PK-08
M

Middle Schools

2 schools
C+
Collins Middle School
0.7 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
1.8 mi | #253 of 824 | Score: 52.3
Dropped 64 spots from last year
-5.9 below state avg
529 students Moderate
Grades 04-06
H

High Schools

3 schools
B+
Salem Academy Charter School
0.4 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
1.3 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
1.7 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 $474
Homeowners Insurance $200
HOA Fee $559/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

41.4%
Price Range
117
Total Days on Market
1
Previous Sales

Property Timeline

Previous Transaction - MLS #73426999
Full transaction history available when tracking began
🏷️
Previously Sold
Oct 17, 2025
$725,000
MLS #73426999
Sold
Sep 8, 2016
$425,000
Property sold
Days on Market: 117
🏠
Listed for Sale
Feb 12, 2016
$449,000
Original listing
Agent: Thomas Costagliola Office: Experience Real Estate

Price & Status History

Date Event Price Change
Oct 17, 2025 Sold $725,000
Feb 12, 2016 New Listing Added $449,000

Market Statistics

Days on Market
186 days
Price per Sq Ft
$280

Tax History

Year Taxes Assessment
2016 $5,691 $363,200

Financial Details

Annual Property Tax
$5,691
Tax Year 2016
HOA Fee
$559
Monthly
Assessed Value
$363,200

Listing Information

Agent MLS ID CT003167
Office MLS ID AC1814
Listing Data Updated Sep 9, 2016 3:44 PM EDT
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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