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51 Lafayette Street # 304, Salem MA 01970

Salem, MA 01970 • Downtown
$589,000
2
Beds
2
Baths
1,620
Sq Ft
$364
Price/Sq Ft
0.48
Acres
2003
Year Built
2
Garage Spaces
82
Days on Market
Closed Listed Jun 7, 2025 • MLS# 73387368 Copied! • Updated Oct 1, 2025

Sale Statistics

Sale Overview
Original List Price: $589,000
Final Sale Price: $589,000
Difference: +$0 (+0.0%)
Performance Metrics
100.0%
List to Sale Ratio
Sold at asking price
82
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft: $364
Sale $/sq ft: $364
This property sold for $364 per square foot
Sale Summary

This property sold exactly at the asking price.

The property spent 82 days on market before selling.

Nearby Sales Comparison

Based on 14 similar properties sold within 0.5 miles in the last 90 days

This Property
$364/sq ft
Area Average
$199/sq ft
Difference
+82.8%

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

About this home

Fabulous sunny, southeast side, corner unit with water views! Experience modern luxury living at its finest at the Derby Lofts Condos located on Lafayette Street in beautiful historic Salem. Enjoy easy living with two bedrooms, two bathrooms in an open layout with new appliances and an updated primary bath. Walls of glass and picture window overlook Derby Street and the South River Canal. The building provides two high-speed elevators for convenience and specialty shops, boutiques, and restaurants on the first floor, but there’s also plenty of shopping and dining options nearby. For commuters, the complex is in close proximity to commuter rail and the Boston Harbor Ferry. Unit comes with two parking passes to the municipal Harbor Street garage.

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Recently Sold Nearby

Property History

Market Insights

25.3%
Price Range
83
Total Days on Market
1
Previous Sales

Property Timeline

Sold
Oct 1, 2025
$589,000
Property sold
Days on Market: 83
🏠
Listed for Sale
Jun 7, 2025
$589,000
Original listing
Agent: Sophie Soman Office: LandVest, Inc., Manchester -by-the-Sea
Previous Transaction - MLS #72329814
Full transaction history available when tracking began
🏷️
Previously Sold
Aug 13, 2018
$440,000
MLS #72329814

Tax History

Year Taxes Assessment
2025 $5,855 $516,300

Financial Details

Annual Property Tax
$5,855
Tax Year 2025
HOA Fee
$501
Monthly
Assessed Value
$516,300

Facts & Features

2 Car Garage
Central AC

Home Facts

Type Residential
Style Condominium
Year Built 2003
Living Area 1,620 sq ft
Lot Size 0.48 acres
Bedrooms 2
Full Baths 2
Total Rooms 4

Interior

Heating Forced Air, Natural Gas
Cooling Central Air
Flooring Wood, Tile
Appliances Range, Dishwasher, Disposal, Microwave, Refrigerator, Freezer, Washer, Dryer
Fireplace None
Basement N
Laundry Third Floor, In Unit
Features Elevator

Exterior

Construction Stone
Architecture None
Roof Shingle
Features City View(s)
Pool None
Spa None
Fencing None
Patio/Porch None
Garage Spaces 2
Has Garage Yes
Features Detached
Total Spaces 4
Electric None
Water Public
Sewer Public Sewer
Gas None
Other None
Annual Tax $5,855
Assessed Value $516,300

HOA & Community

HOA Fee $501 Monthly
Fee Includes Water, Sewer, Insurance, Maintenance Structure, Snow Removal, Trash, Reserve Funds
Amenities Elevator(s)
Optional Fee Includes None
Seller Disclosures Unit Comes With 2 Parking Passes For The South Harbor Garage @ A Cost Of $270 Each / Year, $200 For Seniors. Spots Are First Come First Serve. Current Assessment To Be Paid By Owner.
Exclusions None
Possession None
Accepted Financing None
Structure Type ["High-Rise"]
Unit/Building 304
Sq Ft Source Public Record
Documents Master Deed, Unit Deed, Rules & Regs, Management Association Bylaws, Floor Plans (5)
County Essex
Total market time (incl. prior listings) 83 days

Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
2003
Bedrooms
2
Full Bathrooms
2
Living Area
1,620 sq ft
Total Rooms
4
Stories
1
Entry Level
3

Room Details

Third Floor

Bathroom1
Dining Room
Kitchen
Bathroom2
Bedroom2
Living Room
Master Bedroom

Other Floor

Bedroom5
Bedroom4
Bedroom3
Bathroom3
Office
Family Room
Master Bathroom
Yes

Interior Features

Flooring: Wood, Tile
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Freezer, Washer, Dryer
Interior Features: Elevator
Windows:
Basement: N
Laundry: Third Floor, In Unit
Security:

Construction & Materials

Year Built: 2003
Structure Type: High-Rise
Exterior Materials: Stone
Roof: Shingle
Foundation:
Stories: 1

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: City View(s)
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:

Parking & Garage

Garage Spaces: 2
Total Parking Spaces: 4
Parking Features: Detached

Special Features

View: Yes
View Type: City
Community Amenities: Public Transportation, Shopping, Park, Bike Path, Highway Access, House of Worship, Marina, Public School, T-Station, University

Nearby Schools

School information not available for this location.

Location

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Neighborhood

Downtown

51 Lafayette Street # 304, Salem MA 01970

Salem, MA 01970

Listing Information

Listing Agent Sophie Soman
Listing Office LandVest, Inc., Manchester -by-the-Sea
Office Phone 617-529-1258
Agent MLS ID C8000597
Office MLS ID AN4825
Listing Data Updated Oct 1, 2025 9:19 AM 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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