Investment Analysis — 16 Franklin Street #2501

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 0.36% cap rate and $4,342/yr in estimated NOI at the $1,200,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,569

Style

Condominium

Built

2025

Perched atop RIVERWALK, this exceptional penthouse residence offers luxury single-level living with sweeping river and city skyline views. Ideally located minutes from commuter rail service to Boston and the acclaimed dining, shopping, and cultural attractions of historic downtown Salem, it combines urban convenience with waterfront tranquility. The thoughtfully designed three-bedroom, two-bath layout features soaring ceilings, oversized windows, and an open-concept living space finished with wide-plank European oak flooring. The chef-inspired kitchen showcases Bosch appliances, custom cabinetry, and elegant quartz surfaces. The private primary suite includes a walk-in closet and a spa-like bath with radiant heated floors, dual vanities, glass shower, and smart bidet. Amenities include heated indoor garage parking, elevator access, Clubroom Lounge, fitness center, and a beautifully landscaped riverside patio.

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 MLS and other third-party data may be inaccurate or out of date.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