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323 Lafayette Street # 3, Salem MA 01970

Salem, MA 01970
$400,000
Est. $2,789/month
2
Beds
1
Baths
868
Sq Ft
$461
Price/Sq Ft
1920
Year Built
147
Days on Market
Closed Listed Oct 10, 2024 • MLS# 73301189 Copied!

About this home

Located just steps from Salem State University, this cozy 2-bedroom, 1-bath condominium offers the perfect combination of convenience, comfort, and modern living. Situated in a pet-friendly complex with low fees, this home is ideal for both students and professionals alike. The open-concept living and dining area is filled with natural light and features a charming wood-burning fireplace. The kitchen has granite countertops and stainless steel appliances. Unit comes with two parking spaces, storage in basement, outdoor shared space with storage shed for bikes and lawn equipment, and in-building laundry. With close proximity to the University and Salem Hospital, easy access to major roadways and bus service, this unit offers the ideal location for enjoying the vibrant lifestyle of this picturesque town.

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
1920
Bedrooms
2
Full Bathrooms
1
Living Area
868 sq ft
Total Rooms
5
Stories
1
Entry Level
2

Sale Statistics

Sale Overview
Original List Price: $424,000
Final Sale Price: $400,000
Difference: $24,000 (-5.7%)
Performance Metrics
94.3%
List to Sale Ratio
Sold below asking price
147
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft: $488
Sale $/sq ft: $461
This property sold for $461 per square foot
Sale Summary

This property sold for 5.7% below the original asking price.

At 147 days on market, this property took longer than average to sell.

Nearby Sales Comparison

Based on 7 similar properties sold within 0.5 miles in the last 90 days

This Property
$461/sq ft
Area Average
$323/sq ft
Difference
+42.6%

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

Facts & Features

Home Facts

Type Residential
Style Condominium
Year Built 1920
Living Area 868 sq ft
Bedrooms 2
Full Baths 1
Total Rooms 5

Interior

Heating Electric Baseboard, Radiant
Cooling Wall Unit(s)
Flooring Laminate
Appliances Range, Dishwasher, Disposal, Microwave, Refrigerator
Fireplace Living Room
Fireplaces 1
Basement Y
Laundry Common Area, In Building
Features None

Exterior

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

Parking

Features Off Street, Deeded
Total Spaces 2

Utilities

Electric Circuit Breakers
Water Public
Sewer Public Sewer
Gas None
Other For Electric Range, For Electric Oven

Financial

Annual Tax $3,395
Assessed Value $292,200

Interior Features

Flooring: Laminate
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator
Interior Features:
Windows:
Basement: Y
Laundry: Common Area, In Building
Security: Intercom

Construction & Materials

Year Built: 1920
Structure Type: Garden, Low-Rise
Exterior Materials: Frame
Roof: Shingle
Foundation:
Stories: 1

Heating, Cooling & Utilities

Heating: Electric Baseboard, Radiant
Heating Zones: 3
Cooling: Wall Unit(s)
Cooling Zones: 2
Hot Water:
Water Source: Public
Sewer: Public Sewer
Energy Features:

Exterior & Lot

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

Parking & Garage

Total Parking Spaces: 2
Parking Features: Off Street, Deeded

Special Features

Fireplaces: 1
Fireplace Type: Living Room
Community Amenities: Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Golf, Medical Facility, Bike Path, House of Worship, Marina, Public School, University

Location

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Neighborhood

323 Lafayette Street # 3, 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 $283
Homeowners Insurance $200
HOA Fee $283/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

2.4%
Price Range
131
Total Days on Market

Property Timeline

Sold
May 15, 2025
$400,000
Property sold
Days on Market: 131
🏠
Listed for Sale
Oct 10, 2024
$410,000
Original listing
Agent: Michele Goodwin Office: Leading Edge Real Estate

Price & Status History

Date Event Price Change
Oct 10, 2024 New Listing Added $410,000

Market Statistics

Days on Market
147 days
Price per Sq Ft
$461

Tax History

Year Taxes Assessment
2024 $3,395 $292,200

Financial Details

Annual Property Tax
$3,395
Tax Year 2024
HOA Fee
$283
Monthly
Assessed Value
$292,200

Listing Information

Listing Agent Michele Goodwin
Listing Office Leading Edge Real Estate
Agent MLS ID B8000232
Office MLS ID AN4646
Listing Data Updated May 16, 2025 11:49 AM 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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