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76 Days on market
16 Cloutman St #3 Salem — Photo 1 of 32

16 Cloutman St #3 Salem — Photo 1 of 32

Recent Drop: $25,900

$524,900
$499,000

$499,000

Investment Analysis — 16 Cloutman St #3

Salem, MA 01970 — South Salem

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 4.19% cap rate and $20,924/yr in estimated NOI at the $499,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

2

SqFt

1,359

Style

Condominium

Built

1915

NEW PRICE — NOW $499,000! An exceptional opportunity for a beautifully renovated 3-bedroom, 2-full-bath top-floor residence in Salem. Thoughtfully renovated from the studs out, this spacious 1,359-square-foot condo offers bright, open living with high ceilings, oversized windows, a crisp white kitchen with quartz countertops, stainless appliances, generous cabinetry and a breakfast bar. The primary bedroom includes a private bath, while two additional bedrooms provide flexibility for guests, family or a home office. Enjoy the privacy of top-floor living with no neighbors above, in-unit laundry, two deeded off-street parking spaces, low condo fees and a pet-friendly association. Select furnishings may remain with the property at no additional cost, making this an especially easy move-in opportunity. Convenient to downtown Salem, commuter rail, Salem State, restaurants, shops and the waterfront. 3 bedrooms, 2 baths, 2-car parking and a fully renovated interior — now under $500,000.

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 MLS and other third-party data may be inaccurate or out of date.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.

No longer available to tour

Property Details

Financials

Original Price$545,000
Annual Taxes$5,366
HOA Fee$150

Parking

Garage0
Off-Street2

Interior Specifications

Total Rooms6
FireplacesNone
FlooringWood
BasementN

Climate & Utilities

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

Building & Exterior

ConstructionFrame
RoofShingle
Foundation--
ZoningR2

Property & Lot

Acres0.11
SqFt Lot5,001
Lot Features--

Amenities & Appliances

Range • Microwave • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Walk/Jog Trails • Golf • Medical Facility • Laundromat

Geography

Floorplan Breakdown

Structural Layout

Third
Living RoomDining RoomKitchenPrimary BedroomBedroom 2Bedroom 3Bathroom 1Bathroom 2
Living Room
Lvl Third

Flooring - Hardwood, Window(s) - Bay/Bow/Box, Open Floorplan

Dining Room
Lvl Third

Flooring - Hardwood, Open Floorplan, Lighting - Pendant

Kitchen
Lvl Third

Flooring - Hardwood, Pantry, Countertops - Stone/Granite/Solid, Cable Hookup, Dryer Hookup - Electric, Recessed Lighting, Washer Hookup, Peninsula, Lighting - Pendant

Primary Bedroom
Lvl Third

Closet, Flooring - Hardwood

Bedroom 2
Lvl Third
Bedroom 3
Lvl Third

Closet, Flooring - Hardwood

Bathroom 1
Lvl Third

Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid

Bathroom 2
Lvl Third

Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid

Property History

Price Drop
$499,000

Was $524,900

Sep 1, 2026

MLS® 73552545

Price Drop
$524,900

Was $539,000

Aug 11, 2026

MLS® 73552545

Price Drop
$539,000

Was $545,000

Jul 29, 2026

MLS® 73552545

Listed
$545,000

Jul 21, 2026

MLS® 73552545

Listing Provided By

Listing Agent: Kate Richard

Listing Office: J. Barrett & Company

MLS® Number: 73552545