56 Ward St #3B Salem — Photo 1 of 14
$335,000
Investment Analysis — 56 Ward St #3B
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 6.46% cap rate and $21,651/yr in estimated NOI at the $335,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1
SqFt
1,056
Style
Condominium
Built
1915
Exceptional value in historic Salem! This 3 bedroom, 1 bath unit is ideally located just minutes from vibrant downtown Salem, Pickering Wharf, restaurants, shops, and the waterfront. The unit is a rear unit, providing added privacy. The roof and deck were updated just a few years ago, and a new heating system offers additional peace of mind. The surrounding area is undergoing significant revitalization, including new waterfront condos and retail development directly across the street, bringing even more value and energy to the neighborhood. Enjoy exceptional convenience and coastal charm, with Bluebikes less than a minute away and the commuter rail just a short walk from your door. Whether you're looking for a primary residence, an investment property, or an opportunity to get into one of the North Shore's most sought after cities, this property offers incredible value in a rapidly growing location.
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 MLS and other third-party data may be inaccurate or out of date.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 • Microwave • Refrigerator
Neighborhood
Public Transportation • Shopping • Park • House of Worship • Marina • Public School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl ThirdDining Room
Lvl ThirdKitchen
Lvl ThirdMaster Bedroom
Lvl ThirdBedroom 2
Lvl ThirdBathroom 1
Lvl ThirdListing Agent: Victor Paulino
Listing Office: Engel & Volkers By the Sea
MLS® Number: 73518468