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16 Albion St Salem — Photo 1 of 42

$619,000

Investment Analysis — 16 Albion St

Salem, MA 01970

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01970 carries an estimated $3,080/mo in gross rent — about a 3.46% cap rate and $21,442/yr in estimated NOI at the $619,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,388

Style

Single Family

Built

1850

Welcome to 16 Albion Street, a charming 1850s Greek Revival cottage offering 3 bedrooms and 2 full baths in a convenient Salem location. Filled with character and warmth, the home welcomes you through a bright, seven-window enclosed porch, providing a versatile space for a mudroom, sitting area, or a quiet spot to enjoy your morning coffee. Inside, the flexible first-floor layout features hardwood floors, comfortable living spaces, an updated kitchen, and a dining room highlighted by a built-in china cabinet and large picture window. Additional first-floor space offers plenty of versatility for a home office, guest room, den, or playroom. Upstairs, two spacious bedrooms are joined by a full bath and a skylit hallway that brings in abundant natural light and offers the perfect setting for a reading nook, bookshelves, or additional storage. Outside, the private fenced yard creates an inviting, low-maintenance space for relaxing, dining, or entertaining. An oversized detached one-car garage provides additional storage and valuable work space. Enjoy the best of Salem living with Gallows Hill Park, downtown Salem, the commuter rail, restaurants, shops, and the city’s renowned historic and cultural attractions all within easy reach, along with convenient access to Route 128. With its distinctive period character, flexible living spaces, private outdoor setting, and excellent location, it checks all the boxes! Come see it, and make it your own.

ADU Potential

Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 694 sq ft (the lesser of 900 sq ft or half the 1,388 sq ft principal dwelling). Lot size: 3,001 sq ft.

Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.

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.