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5 School Street # 8, Salem MA 01970

Salem, MA 01970
$480,000
Est. $3,440/month
2
Beds
1.5
Baths
1,329
Sq Ft
$361
Price/Sq Ft
1862
Year Built
16
Days on Market
Closed Listed Sep 9, 2024 • MLS# 73287202 Copied!

About this home

Spacious 2-3 bedroom, 1.5 bath townhouse located in the historic Cogswell School in North Salem. This beautiful corner unit features a gas fireplace and has a wonderful floor plan with soaring ceilings and lots natural sunlight. Many updates include a custom kitchen with stainless appliances, granite countertops and a breakfast bar. Located off the kitchen is a private office, dining room, or 3rd bedroom. In unit laundry. Central air conditioning and central vac! Well managed owner association with a reasonable condo fee. Two deeded parking spaces. There is a balcony is off the main living area offering outdoor space. This townhouse is steps from the commuter rail and everything that Salem has to offer.

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
1862
Bedrooms
2
Full Bathrooms
1
Half Bathrooms
1
Living Area
1,329 sq ft
Total Rooms
5
Stories
2
Entry Level
2

Sale Statistics

Sale Overview
Original List Price: $449,000
Final Sale Price: $480,000
Difference: +$31,000 (+6.9%)
Performance Metrics
106.9%
List to Sale Ratio
Sold above asking price
16
Days on Market
Quick sale
Price per Square Foot Analysis
Original $/sq ft: $338
Sale $/sq ft: $361
This property sold for $361 per square foot
Sale Summary

This property sold for 6.9% above the original asking price, indicating strong buyer demand.

With only 16 days on market, this was a quick sale compared to typical market conditions.

Nearby Sales Comparison

Based on 4 similar properties sold within 0.5 miles in the last 90 days

This Property
$361/sq ft
Area Average
$413/sq ft
Difference
12.6%

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

Facts & Features

Central AC

Home Facts

Type Residential
Style Condominium
Year Built 1862
Living Area 1,329 sq ft
Bedrooms 2
Full Baths 1
Half Baths 1
Total Rooms 5

Interior

Heating Forced Air, Natural Gas
Cooling Central Air
Flooring Flooring - Hardwood
Appliances Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
Fireplace None
Fireplaces 1
Basement N
Laundry Second Floor, In Unit
Features Closet, Office, Central Vacuum

Exterior

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

Parking

Features Deeded
Total Spaces 2

Utilities

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

Financial

Annual Tax $4,449
Assessed Value $382,900

Interior Features

Flooring: Flooring - Hardwood
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
Interior Features: Closet, Office, Central Vacuum
Windows:
Basement: N
Laundry: Second Floor, In Unit
Security:

Construction & Materials

Year Built: 1862
Effective Year (Renovated): 1980
Structure Type: Townhouse
Exterior Materials: Brick
Roof: Shingle
Foundation:
Stories: 2

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

Parking & Garage

Total Parking Spaces: 2
Parking Features: Deeded

Special Features

Fireplaces: 1
Fireplace Type:
Community Amenities: Public Transportation, Shopping, Park, Private School, Public School, T-Station

Location

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Neighborhood

5 School Street # 8, 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 $371
Homeowners Insurance $200
HOA Fee $442/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

6.5%
Price Range
18
Total Days on Market

Property Timeline

Sold
Oct 24, 2024
$480,000
Property sold
Days on Market: 18
🏠
Listed for Sale
Sep 9, 2024
$449,000
Original listing
Agent: Deborah Terlik Office: Keller Williams Realty Evolution

Price & Status History

Date Event Price Change
Sep 9, 2024 New Listing Added $449,000

Market Statistics

Days on Market
16 days
Price per Sq Ft
$361

Tax History

Year Taxes Assessment
2024 $4,449 $382,900

Financial Details

Annual Property Tax
$4,449
Tax Year 2024
HOA Fee
$442
Monthly
Assessed Value
$382,900

Listing Information

Listing Agent Deborah Terlik
Listing Office Keller Williams Realty Evolution
Agent MLS ID C2501271
Office MLS ID C95098
Listing Data Updated Oct 24, 2024 1:37 PM 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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