Active
2 Days on market
16 Franklin Street #2203 Salem — Photo 1 of 40

16 Franklin Street #2203 Salem — Photo 1 of 40

$1,100,000

Investment Analysis — 16 Franklin Street #2203

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 0.54% cap rate and $5,950/yr in estimated NOI at the $1,100,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

2

SqFt

1,479

Style

Condominium

Built

2025

Luxury living with an effortless commute to Boston. This newly constructed 3-bedroom, 2-bath condominium offers sophisticated waterfront living in one of the North Shore’s most desirable locations. Designed for those who appreciate quality, comfort, and convenience, this residence features soaring ceilings, expansive windows, European oak flooring, and premium finishes throughout.The stunning chef’s kitchen showcases Bosch stainless steel appliances, custom cabinetry, quartz countertops and backsplash, opening seamlessly to the spacious living and dining areas—an inviting setting for both everyday living and entertaining. The serene primary suite offers water views, a generous walk-in closet, and a spa-inspired bath complete with heated floors, double vanity, oversized tiled shower, and smart bidet.Step outside to your private balcony and enjoy the beauty of the waterfront, or take advantage of exceptional building amenities including heated garage parking, elevator access, a state-of-the-art fitness center, Clubroom Lounge, and Riverside Outdoor Kitchen & Patio.Perfectly positioned just moments from downtown Salem’s acclaimed restaurants, shops, waterfront attractions, and vibrant cultural scene, with direct commuter rail service to Boston, this is luxury living without the hassle of a long commute. Come home to a residence where elevated design, waterfront surroundings, and city convenience come together beautifully.

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.

Property Details

Financials

Original Price$1,100,000
Annual Taxes--
HOA Fee$745

Parking

Garage1
Off-Street1

Interior Specifications

Total Rooms6
FireplacesNone
FlooringWood, Tile
BasementN

Climate & Utilities

HeatingCentral, Heat Pump, Electric
CoolingHeat Pump
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofRubber
Foundation--
ZoningNRCC

Property & Lot

Acres--
SqFt Lot--
Lot Features--

Amenities & Appliances

Range • Dishwasher • Disposal • Microwave • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Tennis Court(s) • Park • Golf • Medical Facility

Geography

Floorplan Breakdown

Structural Layout

Second
Living RoomDining RoomKitchenPrimary BedroomBedroom 2Bedroom 3Bathroom 1Bathroom 2
Living Room
Lvl Second
Dining Room
Lvl Second
Kitchen
Lvl Second
Primary Bedroom
Lvl Second
Bedroom 2
Lvl Second
Bedroom 3
Lvl Second
Bathroom 1
Lvl Second

Bathroom - Full

Bathroom 2
Lvl Second

Bathroom - Full

Property History

Listed
$1,100,000

Sep 11, 2026

MLS® 73575829

Terminated
$1,100,000

Aug 17, 2026

MLS® 73529255

Listed
$1,100,000

Jun 3, 2026

MLS® 73529255

Listing Provided By

Listing Agent: Merry Fox Team

Listing Office: MerryFox Realty

MLS® Number: 73575829