
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.
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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
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
Living Room
Lvl SecondDining Room
Lvl SecondKitchen
Lvl SecondPrimary Bedroom
Lvl SecondBedroom 2
Lvl SecondBedroom 3
Lvl SecondBathroom 1
Lvl SecondBathroom - Full
Bathroom 2
Lvl SecondBathroom - Full
Property History
$1,100,000
Sep 11, 2026
MLS® 73575829
$1,100,000
Aug 17, 2026
MLS® 73529255
$1,100,000
Jun 3, 2026
MLS® 73529255
Listing Agent: Merry Fox Team
Listing Office: MerryFox Realty
MLS® Number: 73575829