Wake up to views of the water and Derby Wharf Lighthouse from your bedroom in this 2+ bedroom condo in the historic Derby Street neighborhood. In the heart of all the action and steps from the water, this residence is a rare opportunity. Enter this second-floor unit from off-street parking through a large mudroom/flex space with a sizeable catch-all closet and entrance to convenient second bedroom. The spacious open floorplan features a large updated kitchen with plentiful storage and granite counters opening into a living room with exposed brick and a separate dining area. The primary bedroom includes beautiful water views, vaulted ceilings, and skylight. A third-floor space lofted to the primary bedroom is perfect for extra storage or an office space flooded with natural light from skylights. The full bathroom also includes an in-unit laundry. Enjoy walkability to everything downtown Salem has to offer. Hardwood floors and new windows throughout.
Type | Level |
---|---|
Bedroom 2 | Second |
Dining Room | Second |
Kitchen | Second |
Living Room | Second |
Master Bedroom | Second |
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William Raveis Real Estate
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Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $439,200 | $439,200 | $439,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.500% | 6.125% | 5.375% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.490% | 6.297% | 5.597% |
Monthly Tax Payment | $455 | $455 | $455 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,776 | $2,669 | $3,560 |
Total Monthly Payment | $3,322 | $3,215 | $4,106 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.