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225 Derby St # 503, Salem MA 01970

Salem, MA 01970
$610,000
Est. $4,299/month
1
Beds
1.5
Baths
1,151
Sq Ft
$530
Price/Sq Ft
0.91
Acres
2004
Year Built
146
Days on Market
Closed Listed Dec 18, 2023 • MLS# 73188067 Copied!

About this home

Welcome Home! Enjoy luxury living with this sun-drenched, open, spacious condo boasting panoramic harbor views atop the Salem Waterfront Hotel and Suites. Your reserved parking spot is close to the lobby and elevator. Experience the charm of Downtown Salem and the convenience of Pickering Wharf's shops and restaurants right at your doorstep. The one-bedroom, one-and-a-half-bath condo features central air, granite countertops, an in-unit washer and dryer, and power shades. Your residence includes access to hotel amenities, including a heated pool. Revel in the mesmerizing water views that extend over Salem Harbor to the South Channel and beyond. Immerse yourself in the best of Salem's offerings within arm's reach. Seize the opportunity to make this remarkable condo and Salem living your own. Schedule your visit now to experience it firsthand.

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
2004
Bedrooms
1
Full Bathrooms
1
Half Bathrooms
1
Living Area
1,151 sq ft
Total Rooms
3
Stories
1
Entry Level
5

Sale Statistics

Sale Overview
Original List Price: $639,000
Final Sale Price: $610,000
Difference: $29,000 (-4.5%)
Performance Metrics
95.5%
List to Sale Ratio
Sold below asking price
146
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft: $555
Sale $/sq ft: $530
This property sold for $530 per square foot
Sale Summary

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

At 146 days on market, this property took longer than average to sell.

Nearby Sales Comparison

Based on 10 similar properties sold within 0.5 miles in the last 90 days

This Property
$530/sq ft
Area Average
$267/sq ft
Difference
+98.5%

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

Facts & Features

Central AC

Home Facts

Type Residential
Style Condominium
Year Built 2004
Living Area 1,151 sq ft
Lot Size 0.91 acres
Bedrooms 1
Full Baths 1
Half Baths 1
Total Rooms 3

Interior

Heating Forced Air, Natural Gas
Cooling Central Air
Flooring Tile, Carpet, Hardwood
Appliances Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
Fireplace None
Fireplaces 1
Basement N
Laundry In Unit
Features None

Exterior

Construction Stone
Architecture None
Roof None
Features None
Pool Association, Indoor
Spa None
Fencing None
Patio/Porch None

Parking

Features Off Street, Assigned
Total Spaces 1

Utilities

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

Financial

Annual Tax $7,220
Assessed Value $577,100

Interior Features

Flooring: Tile, Carpet, Hardwood
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
Interior Features:
Windows:
Basement: N
Laundry: In Unit
Security: Intercom, TV Monitor, Security System

Construction & Materials

Year Built: 2004
Structure Type: High-Rise
Exterior Materials: Stone
Roof:
Foundation:
Stories: 1

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: Thermostat

Exterior & Lot

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

Parking & Garage

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

Special Features

Fireplaces: 1
Fireplace Type:
Community Amenities: Public Transportation, Shopping, Pool, Park, Walk/Jog Trails, Bike Path, Marina, Public School, T-Station

Location

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Neighborhood

225 Derby St # 503, 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
C+
Bentley Academy Innovation School
0.8 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
0.8 mi
106 students Diverse
Diverse Student Body
Grades PK
M

Middle Schools

2 schools
C+
Collins Middle School
0.9 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
1.6 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
0.3 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
1.5 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
1.9 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 $602
Homeowners Insurance $200
HOA Fee $413/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

3.8%
Price Range
147
Total Days on Market

Property Timeline

Current Active Listing - MLS #73481755
Full transaction history available when tracking began
🏡
Currently Listed
Mar 3, 2026
$610,000
MLS #73481755 - Active
Sold
May 30, 2024
$610,000
Property sold
Days on Market: 147
🏠
Listed for Sale
Dec 18, 2023
$634,000
Original listing
Agent: Chris LeVasseur Office: Keller Williams Realty Evolution

Price & Status History

Date Event Price Change
Mar 3, 2026 Sold $610,000
Dec 18, 2023 New Listing Added $634,000

Market Statistics

Days on Market
146 days
Price per Sq Ft
$530

Tax History

Year Taxes Assessment
2023 $7,220 $577,100

Financial Details

Annual Property Tax
$7,220
Tax Year 2023
HOA Fee
$413
Monthly
Assessed Value
$577,100

Listing Information

Listing Office Keller Williams Realty Evolution
Agent MLS ID CN241382
Office MLS ID C95098
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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