16 South St Salem — Photo 1 of 31
$699,900
Investment Analysis — 16 South St
Salem, MA 01970
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01970 carries an estimated $3,390/mo in gross rent — about a 3.42% cap rate and $23,942/yr in estimated NOI at the $699,900 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
3
SqFt
2,849
Style
Single Family
Built
1870
WELCOME TO THIS SPACIOUS SALEM COLONIAL WITH FLEXIBLE LIVING SPACE! This 4-bedroom, 3-bath home offers a comfortable layout with generous living areas, hardwood flooring, and a well-appointed kitchen with stainless steel appliances. The finished lower level adds an informal kitchen area, full bath, laundry, and bonus rooms, creating excellent flexibility for additional living space, recreation, or a home office. Enjoy outdoor living with a deck and patio, plus convenient access to Salem's vibrant downtown, local amenities, and major routes. DON'T MISS THE OPPORTUNITY TO MAKE THIS VERSATILE SALEM HOME YOUR OWN!
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 900 sq ft (the lesser of 900 sq ft or half the 2,849 sq ft principal dwelling). Lot size: 6,081 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
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 MLS and other third-party data may be inaccurate or out of date.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
Water Heater • Range • Dishwasher • Microwave • Refrigerator
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First18 x 14
Flooring - Vinyl, Lighting - Overhead
Dining Room
Lvl First18 x 9
Flooring - Vinyl, Recessed Lighting
Kitchen
Lvl First14 x 12
Ceiling Fan(s), Flooring - Hardwood, Recessed Lighting, Stainless Steel Appliances
Family Room
Lvl First14 x 10
Ceiling Fan(s), Flooring - Vinyl, Recessed Lighting
Master Bedroom
Lvl Second16 x 12
Ceiling Fan(s), Closet, Flooring - Vinyl, Recessed Lighting
Bedroom 2
Lvl Second15 x 11
Bedroom 3
Lvl Second15 x 12
Ceiling Fan(s), Closet, Flooring - Vinyl, Lighting - Overhead
Bedroom 4
Lvl Second17 x 10
Ceiling Fan(s), Closet, Flooring - Vinyl, Lighting - Overhead
Bathroom 1
Lvl First6 x 5
Bathroom - Full, Bathroom - With Shower Stall, Flooring - Stone/Ceramic Tile, Recessed Lighting, Lighting - Sconce
Bathroom 2
Lvl Second8 x 7
Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile, Lighting - Overhead
Bathroom 3
Lvl Basement10 x 8
Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile, Lighting - Overhead
Listing Agent: Team Lillian Montalto
Listing Office: Lillian Montalto Signature Properties
MLS® Number: 73567527