10 Union Street #3 Salem — Photo 1 of 40
$595,000
Investment Analysis — 10 Union Street #3
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 2.17% cap rate and $12,912/yr in estimated NOI at the $595,000 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
1
SqFt
1,272
Style
Condominium
Built
1900
UNION SQUARE CONDOMINIUM, WHERE HISTORIC CHARM MEETS MODERN LUXURY. Situated in an ideal downtown Salem location between Salem Common and the waterfront, and in close proximity to the Peabody Essex Museum, vibrant shops, dining, Commuter Rail and Ferry, this rare 2-level end unit sits high off the street with views of Salem Common. An architectural gem, the updated and move-in ready home features stunning exposed brick, soaring beamed ceilings and wide pine floors. The flow of the open concept living / dining and kitchen areas is ideal for everyday living and entertaining. Combine that with exposed ductwork, skylights and boxed windows creating an abundance of natural light, vaulted ceilings, and a spacious loft presently used as a family room plus work from home space. Additional highlights include central air, in-unit laundry with brand new washer and dryer, 2+ bedrooms, including a generous primary BR w a sitting/ dressing/ exercise area, plenty of basement storage, shared outdoor grilling area, and an exclusive off-street parking space plus resident permit parking, and you have the ideal home in popular downtown Salem.
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 MLS and other third-party data may be inaccurate or out of date.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.
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Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Walk/Jog Trails
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,Third12 x 12
Beamed Ceilings, Vaulted Ceiling(s), Flooring - Wood, Window(s) - Bay/Bow/Box, Cable Hookup, High Speed Internet Hookup, Open Floorplan, Lighting - Overhead
Dining Room
Lvl Main,Third12 x 11
Beamed Ceilings, Vaulted Ceiling(s), Flooring - Wood, Window(s) - Bay/Bow/Box, Cable Hookup, High Speed Internet Hookup, Open Floorplan, Lighting - Overhead
Kitchen
Lvl Main,Third15 x 7
Beamed Ceilings, Flooring - Stone/Ceramic Tile, Pantry, Countertops - Stone/Granite/Solid, Cabinets - Upgraded, Open Floorplan, Remodeled, Stainless Steel Appliances, Gas Stove, Lighting - Overhead
Master Bedroom
Lvl Main,Third23 x 10
Beamed Ceilings, Closet, Flooring - Wall to Wall Carpet, Window(s) - Bay/Bow/Box, Cable Hookup, Dressing Room, Exterior Access, High Speed Internet Hookup, Lighting - Overhead
Bedroom 2
Lvl Main,Third11 x 10
Bathroom 1
Lvl Main8 x 5
Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Cabinets - Upgraded, Lighting - Overhead
Listing Agent: Connie Levine
Listing Office: Keller Williams Realty Boston Northwest
MLS® Number: 73572240