
16 Cloutman St #3 Salem — Photo 1 of 32
Recent Drop: $25,900
$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.
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 MLS and other third-party data may be inaccurate or out of date.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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Walk/Jog Trails • Golf • Medical Facility • Laundromat
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl ThirdFlooring - Hardwood, Window(s) - Bay/Bow/Box, Open Floorplan
Dining Room
Lvl ThirdFlooring - Hardwood, Open Floorplan, Lighting - Pendant
Kitchen
Lvl ThirdFlooring - Hardwood, Pantry, Countertops - Stone/Granite/Solid, Cable Hookup, Dryer Hookup - Electric, Recessed Lighting, Washer Hookup, Peninsula, Lighting - Pendant
Primary Bedroom
Lvl ThirdCloset, Flooring - Hardwood
Bedroom 2
Lvl ThirdBedroom 3
Lvl ThirdCloset, Flooring - Hardwood
Bathroom 1
Lvl ThirdBathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Bathroom 2
Lvl ThirdBathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Property History
$499,000
Was $524,900
Sep 1, 2026
MLS® 73552545
$524,900
Was $539,000
Aug 11, 2026
MLS® 73552545
$539,000
Was $545,000
Jul 29, 2026
MLS® 73552545
$545,000
Jul 21, 2026
MLS® 73552545
Listing Agent: Kate Richard
Listing Office: J. Barrett & Company
MLS® Number: 73552545
No longer available to tour








