275 Lafayette Street, Salem MA 01970
Salem, MA 01970
$1,375,000
Est. $7,318/month
About this home
Development opportunity on .52 acre lot near downtown Salem on route 1A/114 near Salem State University. Approved plans for 10-unit condominium complex over two buildings (5 and 5). Rear building is gutted and ready to be built out. Front building would need to be constructed. All plans, approvals, etc available upon request.
Sale Statistics
Sale Overview
Original List Price:
$1,700,000
Final Sale Price:
$1,375,000
Difference:
$325,000 (-19.1%)
Performance Metrics
80.9%
List to Sale Ratio
Sold below asking price
61
Days on Market
Extended listing
Sale Summary
This property sold for 19.1% below the original asking price.
The property spent 61 days on market before selling.
Facts & Features
Property Overview
Property Type
Residential
Property Category
Land
Interior Features
Exterior & Structure
Waterfront Property
No
Lot & Land
Lot Size
0.52 acres
Lot Size
22,651 sq ft
Lot Size Area
0.5200
Lot Features
Gentle Sloping
Road Frontage Type
Public
Parking & Garage
Utilities & Systems
Water Source
Public
Sewer
Public Sewer
Electric
On-Site
Electric on Property
Yes
Gas
On-Site
Community & HOA
Community Features
Public Transportation, Shopping, Park, Bike Path, Public School, University
HOA
No
Senior Community
No
Financial & Tax Information
Annual Tax Amount
$23,690
Tax Year
2024
Tax Assessed Value
$1,158,300
Parcel Number
3304380,2135031
Zoning
HIST
Additional Details
Location
Loading map...
Neighborhood
275 Lafayette Street, Salem MA 01970
Salem, MA 01970
Walkability
Loading Walk Score...
Schools
School information not available
Monthly Payment Calculator
%
%
Estimated Monthly Payment
$0
Payment Breakdown
Principal & Interest
$0
Property Tax
$1,974
Homeowners Insurance
$200
PMI
$0
Property History
Market Insights
19.1%
Price Range
63
Total Days on Market
Property Timeline
Sold
Sep 5, 2025
$1,375,000
Property sold
Days on Market: 63
Listed for Sale
Jan 9, 2025
$1,700,000
Original listing
Agent: Merry Fox Team
Office: MerryFox Realty
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 09/05/2025 | ✓ Sold | $1,375,000 | - | - | Property sold |
| 01/09/2025 | 🏠 Listed for Sale | $1,700,000 | - | - | Original listing |