Active Under Contract
31 Days on market
16 Franklin Street #1502 Salem — Photo 1 of 26

16 Franklin Street #1502 Salem — Photo 1 of 26

$1,050,000

Investment Analysis — 16 Franklin Street #1502

Salem, MA 01970

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 01970 carries an estimated $2,560/mo in gross rent — about a 0.20% cap rate and $2,061/yr in estimated NOI at the $1,050,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

2

Baths

2

SqFt

1,450

Style

Condominium

Built

2025

Experience luxury living at RIVERWALK in this newly constructed 2+ bedroom, 2-bath residence showcasing sweeping city skyline views. The thoughtfully designed floor plan features dual primary suites, a dedicated home office, soaring ceilings, oversized windows, and exceptional finishes. The designer kitchen offers Bosch stainless steel appliances, custom cabinetry, quartz surfaces, and an open flow to spacious living and dining areas with European Oak hardwood floors. The primary suite features a walk-in closet and spa-inspired bath with heated floors, double vanity, smart bidet, and oversized tiled shower. Residents enjoy heated garage parking, fitness center, Clubroom Lounge, and riverside outdoor gathering spaces. Ideally located near Salem’s dining, shopping, culture, and transportation, RIVERWALK offers sophisticated North Shore living at its finest.

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 MLS and other third-party data may be inaccurate or out of date.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$1,050,000
Annual Taxes--
HOA Fee$723.87

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

Fourth Floor
Living RoomDining RoomKitchenOfficePrimary BedroomBedroom 2Bathroom 1Bathroom 2
Living Room
Lvl Fourth Floor
Dining Room
Lvl Fourth Floor
Kitchen
Lvl Fourth Floor
Office
Lvl Fourth Floor
Primary Bedroom
Lvl Fourth Floor
Bedroom 2
Lvl Fourth Floor
Bathroom 1
Lvl Fourth Floor

Bathroom - Full

Bathroom 2
Lvl Fourth Floor

Bathroom - Full

Listing Provided By

Listing Agent: Merry Fox Team

Listing Office: MerryFox Realty

MLS® Number: 73564691