4 months on rocket

225 Derby St Unit 503, Salem, MA, 01970

$634,000

Home List Price

$7,529*

Closing Credit

1 Bedroom
1 Full Bath, 1 Partial
1,151 SqFt
$551/SqFt
Condo
Schools Nearby

Location

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225 Derby St Unit 503, Salem$634,000

Buyer Closing Credits

$7,529*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeCondominium
ParkingOff Street, Assigned
Year Built2004
HeatingForced Air, Natural Gas
CoolingCentral Air
WaterfrontBeach, Ocean Front
MLS #73188067
Lot Size0.91 Acres
StatusActive

About 225 Derby St Unit 503

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.

Property Details

Property Features

Property Information:

  • Year Built: 2004
  • Living Area: 1,151 SqFt

Listing Office:

  • Office Name: Keller Williams Realty Evolution
  • Listing Agent: Chris LeVasseur

Interior Features

Interior Information:

  • Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
  • Flooring Type: Tile, Carpet, Hardwood

Bedroom and Bathroom Information:

  • Partial Bathrooms: 1
  • Full Bathrooms: 1
  • Total Bedroom Count: 1

Exterior Features

Exterior Information:

  • Waterfront: Beach, Ocean Front

Parking Information:

  • Parking: Off Street, Assigned

Lot Features

Lot Information:

  • Lot Size: 0.91 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Natural Gas
  • Cooling: Central Air

School Info

Assigned Schools Information:

  • Salem High School, Public District Grades 9-12
  • Saltonstall School, Public District Grades KG-8
  • Collins Middle School, Public District Grades 6-8
  • Nathaniel Bowditch, Public District Grades KG-8
  • Carlton, Public District Grades KG-5
  • Horace Mann Laboratory, Public District Grades KG-5
  • Bates, Public District Grades KG-5

Other

Directions Information:

  • Directions: Hawthorne Blvd to Derby Street. Located on the 5th floor of the Salem Waterfront Hotel.

Price Information

Listing Price Info

Price Summary:

  • List Price: $634,000
  • Price Per SqFt: $551/SqFt

Agent Commission:

  • Buyer's Agent Commission: 2

HOA Fees:

  • Amount: $412
  • Frequency: Monthly

Tax Information:

  • Annual Amount: $7,234
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Salem, MA.

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Salem, MA

City

Med. Sold Price

$549.9K

Med. Price/SqFt

$381

Avg. Days On Market

25

# of Sold Homes

34

225 Derby St Unit 503 vs Salem

130 DAYS ON ROCKET

+105 Days

$634,000

+$84K More

$551/SqFt

+$170 More

KEY TAKEAWAY

This property is $84K more than the Median Sold Price and $170/SqFt more than other homes in Salem, MA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MLS Property Information Network
  • MLS Number: #73188067

Listing Office:

  • Office Name: Keller Williams Realty Evolution
  • Listing Agent: Chris LeVasseur

IDX Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

Note: Any Compensation information or listing brokers offer of compensation displayed is only applicable to other member participants of the source MLS.

Last updated on: 4/27/2024, 12:25:15 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Nov 18, 2011Home Sold
$415,000
Mar 16, 2005Home Sold
$549,000

Tax History

YEARPROP. TAXASSESSMENT
2021$7,234$524,200
2020$7,352$508,800
2019$7,387$489,200
2018$7,262$472,200
2017$7,545$475,700

History based on county public records data.

Payment Calculator

$3,644

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,967

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-1223769
4
/10

  • Carlton

  • 10 Skerry St

  • 0.81 miles

  • Public District Grades KG-5

school-card-donut-1223770
5
/10

  • Horace Mann Laboratory

  • 33 Loring Ave

  • 1.14 miles

  • Public District Grades KG-5

school-card-donut-1223771
5
/10

  • Bates

  • 53 Liberty Hill Ave

  • 1.30 miles

  • Public District Grades KG-5

Middle School

school-card-donut-1223772
4
/10

  • Saltonstall School

  • 211 Lafayette St

  • 0.47 miles

  • Public District Grades KG-8

school-card-donut-1223773
4
/10

  • Collins Middle School

  • 29 Highland Ave

  • 0.89 miles

  • Public District Grades 6-8

school-card-donut-1223774
2
/10

  • Nathaniel Bowditch

  • 79 Willson St

  • 1.31 miles

  • Public District Grades KG-8

High School

school-card-donut-1223775
3
/10

  • Salem High School

  • 77 Willson St

  • 1.47 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $40,485. Most Salem, MA residents have annual incomes between $35k-100k. Typical family type is single, no kids. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 225 Derby St Unit 503

What is the listing price of this property?

The listing price of 225 Derby St Unit 503 property is $634,000.

What type of property is this?

The property 225 Derby St Unit 503 is a condo located in Salem, Massachusetts, 01970.

Is this property for sale now?

Active Listing: 225 Derby St Unit 503 is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 225 Derby St Unit 503 are:
Carlton: GreatSchools Rating 4/10
Horace Mann Laboratory: GreatSchools Rating 5/10
Bates: GreatSchools Rating 5/10
Saltonstall School: GreatSchools Rating 4/10
Collins Middle School: GreatSchools Rating 4/10
Nathaniel Bowditch: GreatSchools Rating 2/10
Salem High School: GreatSchools Rating 3/10

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $7,234 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on November 18, 2011 for $415,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 225 Derby St Unit 503 has 1 bedroom and 1 full and 1 half bathrooms.

What is the square footage of this property?

The property 225 Derby St Unit 503 is 1,151 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 225 Derby St Unit 503 is 2004.

Rocket Homes›Massachusetts›Essex County›Salem›01970›225 Derby St Unit 503

This home is located at 225 Derby St Unit 503 in Salem, MA and zip code 01970. This 1,151 square foot home, which was built in 2004, sits on a 0.91 acre lot. Features: 1 bedroom, 2 bathrooms. It has been listed on Rocket Homes since December 18, 2023 and is currently priced at $634,000.

In March 2024 more than 26 listings in Salem, MA were sold above the asking price. During the same period more than 4 listings were sold at asking price, while more than 4 were sold below. In March 2024 in Salem, MA there were 5.8% more homes for sale than in February 2024. The median list price of listings available in March 2024 was $549,925, while the average time on the real estate market was 25 days.

From Rocket Homes Real Estate and based on county public records data.

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