
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.
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 MLS and other third-party data may be inaccurate or out of date.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
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
Aug 31, 2026
MLS® 73570035
$1,100,000
Aug 17, 2026
MLS® 73516111
$1,100,000
May 11, 2026
MLS® 73516111
Listing Agent: Merry Fox Team
Listing Office: MerryFox Realty
MLS® Number: 73570035