Active
16 Days on market
131 Derby St #1R Salem — Photo 1 of 41

131 Derby St #1R Salem — Photo 1 of 41

Recent Drop: $20,000

$469,900
$449,900

$449,900

131 Derby St #1R, Salem, MA 01970

Salem, MA 01970

Beds

2

Baths

1

SqFt

813

Style

Condominium

Built

1900

Location, location, location! This beautiful two-bedroom condo puts you right in the heart of historic downtown Salem, just steps from the Harbor, the House of the Seven Gables, the Peabody Essex Museum, fabulous restaurants, coffee shops, ice cream and gelato shops and an inviting mix of unique boutiques, specialty shops and local businesses. Enjoy the best of both worlds, where Salem’s rich history uniquely meets the energy and convenience of modern downtown living. Move-in ready and filled with charm, this inviting home features two bedrooms with ample closet space, a recently renovated full bath, and beautiful hardwood floors throughout. High ceilings add to the light and airy feel as well as the spacious, updated eat-in kitchen offering abundant cabinetry, granite countertops, stainless steel appliances, an island for additional prep space and a spot to enjoy a meal as well as an open flow into the living area. Additional amenities include a fire sprinkler system for added peace of mind, basement laundry and dedicated storage, plus the option for laundry hookups in the kitchen. Pets are welcome! T he reasonable condo fee includes heat, water, and sewer, and convenient on-street permit parking is available for owners. With a quick closing possible, you could be enjoying everything downtown Salem has to offer just in time for the Halloween festivities!

Key facts

It was listed on September 17, 2026. The price has come down from an original $469,900 to $449,900, most recently on September 30, 2026. The annual property taxes are $4,738 (2026 tax year). The condo fee is $375 per month, which includes heat and water.

Immersive Experience

Market Value Analysis

This Property
Size (SqFt) →Price →
This Property$553/sqft
Local Avg (Salem)$405/sqft
37% AboveMarket Average

* Analysis is based on 23 actively listed and recently sold comparable properties strictly within Salem, MA.

Property Details

Financials

Original Price$469,900
Annual Taxes$4,738
HOA Fee$375

Parking

Garage0
Off-Street0

Interior Specifications

Total Rooms4
FireplacesNone
FlooringTile, Hardwood
BasementY

Climate & Utilities

HeatingBaseboard, Natural Gas
CoolingWindow Unit(s)
WaterPublic
SewerPublic Sewer

Building & Exterior

Construction--
RoofRubber
Foundation--
ZoningB1

Property & Lot

Acres0.23
SqFt Lot10,088
Lot Features--

Amenities & Appliances

Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • House of Worship

Geography

Floorplan Breakdown

Structural Layout

First
Living RoomKitchenPrimary BedroomBedroom 2Bathroom 1
Living Room
Lvl First

Ceiling Fan(s), Flooring - Hardwood, Open Floorplan

Kitchen
Lvl First

Flooring - Hardwood, Countertops - Stone/Granite/Solid, Kitchen Island, Recessed Lighting, Stainless Steel Appliances, Washer Hookup, Lighting - Pendant

Primary Bedroom
Lvl First

Ceiling Fan(s), Closet, Flooring - Hardwood

Bedroom 2
Lvl First
Bathroom 1
Lvl First

Bathroom - Full, Flooring - Stone/Ceramic Tile

Property History

Price Drop
$449,900

Was $469,900

Sep 30, 2026

MLS® 73579110

Listed
$469,900

Sep 17, 2026

MLS® 73579110

Terminated
$244,900

Jun 29, 2010

MLS® 71069475

Listed
$244,900

Apr 22, 2010

MLS® 71069475

Questions about this home

When was 131 Derby St #1R, Salem listed?

131 Derby St #1R, Salem was listed on September 17, 2026.

Has the price of 131 Derby St #1R, Salem changed?

The price has come down from an original $469,900 to $449,900, most recently on September 30, 2026.

What are the property taxes for 131 Derby St #1R, Salem?

The annual property taxes for 131 Derby St #1R, Salem are $4,738 (2026 tax year).

What is the condo fee at 131 Derby St #1R, Salem?

The condo fee is $375 per month, which includes heat and water.

What is the status of 131 Derby St #1R, Salem?

131 Derby St #1R, Salem is actively listed for sale.

Population

44,738

U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)

Median Household Income

$85K

U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)

Renter-Occupied Homes

50.4%

U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)

New Construction Permits — Essex County

1,060 housing units permitted in the last 12 months (-11% vs the prior 12 months) — 603 in 5+ unit buildings

U.S. Census Bureau, Building Permits Survey (through Jul '26)

Listing Provided By

Listing Agent: Rita Patriarca

Listing Office: RE/MAX Encore

MLS® Number: 73579110