
10 Norman Street #502 Salem — Photo 1 of 38
Recent Drop: $10,000
$439,000
Investment Analysis — 10 Norman Street #502
Salem, MA 01970 — Downtown
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 01970 carries an estimated $2,560/mo in gross rent — about a 2.94% cap rate and $12,920/yr in estimated NOI at the $439,000 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
2
SqFt
1,064
Style
Condominium
Built
1980
Downtown Salem living at its best! This exceptional end-unit penthouse condo at Heritage Plaza offers a rare combination of space, convenience, and location, with 2 bedrooms and 2 full baths in the heart of downtown Salem. Set within a courtyard of three well-maintained buildings, Heritage Plaza offers a welcoming community with two peaceful outdoor seating areas. Building amenities include an elevator, community room, fitness center with sauna, on-site storage lockers, and ample visitor parking. Your exclusive-use parking space is just steps from the entrance in a well-lit lot with security cameras, with common areas that are shoveled and plowed throughout the winter. Inside, the spacious primary bedroom suite offers plenty of room for a king-sized bed, abundant closet space, and the convenience of an in-unit washer and dryer. The dining room features beautiful built-ins, providing both practical storage and a lovely place to display treasured photos and collectibles. The home was freshly painted in 2023. This location is hard to beat. Open the back gate and you're seconds from Salem's vibrant downtown—cafés and restaurants, including Ledgers, O'Neils, and Rockafellas, along with shops, museums, the Commuter Rail Station, and the Salem Ferry. Leave the car at home and enjoy everything Salem has to offer right outside your door. Be in your new home for the fall and winter holidays!
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Golf • Medical Facility • Highway Access
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First18 x 13
Flooring - Wall to Wall Carpet, Window(s) - Picture
Dining Room
Lvl First10 x 9
Closet/Cabinets - Custom Built, Flooring - Wall to Wall Carpet
Kitchen
Lvl First9 x 8
Flooring - Stone/Ceramic Tile, Breakfast Bar / Nook, Crown Molding
Primary Bedroom
Lvl First15 x 14
Bathroom - Full, Flooring - Wall to Wall Carpet, Closet - Double
Bedroom 2
Lvl First11 x 11
Bathroom 1
Lvl FirstBathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl FirstBathroom - Full, Bathroom - Tiled With Shower Stall
Property History
$439,000
Was $449,000
Sep 19, 2026
MLS® 73570488
$449,000
Sep 1, 2026
MLS® 73570488
Listing Agent: Shari Mcstay
Listing Office: Keller Williams Realty Evolution
MLS® Number: 73570488








