Active Under Contract
13 Days on market
16 Franklin Street #2401 Salem — Photo 1 of 28

16 Franklin Street #2401 Salem — Photo 1 of 28

$1,100,000

Investment Analysis — 16 Franklin Street #2401

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 0.50% cap rate and $5,494/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

1,567

Style

Condominium

Built

2025

Experience single-level waterfront living at RIVERWALK, where sophisticated design, effortless convenience, and breathtaking views come together. Ideally located just minutes from the commuter rail to Boston and Salem’s celebrated restaurants, shops, waterfront, and historic downtown, this beautifully appointed three-bedroom, two-bath residence offers refined single-level living in a serene setting. An open, light-filled floor plan is enhanced by soaring ceilings, oversized windows, European oak hardwood floors, and sweeping river and city skyline views. The stunning chef’s kitchen features Bosch appliances, custom cabinetry, quartz countertops, and a seamless connection to the spacious living and dining areas. The private primary suite is a luxurious retreat with a walk-in closet and spa-inspired bath featuring radiant heated floors, dual vanity, glass-enclosed shower, and smart bidet. RIVERWALK residents enjoy exceptional amenities including heated indoor garage parking, elevator, Clubroom Lounge, state-of-the-art fitness center, and beautifully landscaped riverside outdoor kitchen and patio. A rare opportunity to enjoy turnkey luxury, spectacular views, and the best of Salem—all in one exceptional address.

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$783

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

Aug 31, 2026

MLS® 73570035

Terminated
$1,100,000

Aug 17, 2026

MLS® 73516111

Listed
$1,100,000

May 11, 2026

MLS® 73516111

Listing Provided By

Listing Agent: Merry Fox Team

Listing Office: MerryFox Realty

MLS® Number: 73570035