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2 Days on market
49 Federal St #4 Salem — Photo 1 of 23

49 Federal St #4 Salem — Photo 1 of 23

$619,000

Investment Analysis — 49 Federal St #4

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 2.58% cap rate and $15,963/yr in estimated NOI at the $619,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

2

Baths

2.5

SqFt

877

Style

Condominium

Built

1800

Step into history, reimagined for modern living. This beautifully renovated Victorian-era condo blends old-world character with brand-new everything, including wide-plank pine flooring, a fully gut-renovated kitchen with all-new appliances, and two en-suite bathrooms, one for each bedroom. Completed in 2022, the complete renovation gives you all the charm of a historic Salem building with none of the guesswork. Oversized windows flood the unit with light, and, a rare find for a building this age, Unit 4 has separate climate control for each floor plus central air conditioning. The location doesn't get more central: directly across from Salem's historic courthouse and moments from the city's best restaurants and nightlife. Salem's shops, museums, and waterfront are all close by, and the MBTA Salem train station is just around the corner, putting Boston within easy reach. Historic charm, modern finishes, and an unbeatable location: Unit 4 at 49 Federal St checks every box.

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 MLS and other third-party data may be inaccurate or out of date.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$619,000
Annual Taxes$5,584
HOA Fee$150

Parking

Garage0
Off-Street1

Interior Specifications

Total Rooms4
FireplacesNone
FlooringWood, Tile, Pine
BasementN

Climate & Utilities

HeatingForced Air, Natural Gas
CoolingCentral Air
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle, Rubber
Foundation--
ZoningB5

Property & Lot

Acres0.08
SqFt Lot3,441
Lot Features--

Amenities & Appliances

Dishwasher • Disposal • Microwave • Refrigerator • Freezer • ENERGY STAR Qualified Dishwasher • Washer/Dryer

Neighborhood

Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • Laundromat

Geography

Floorplan Breakdown

Structural Layout

Second
Primary BedroomBedroom 2Bathroom 2Bathroom 3
First
Living RoomBathroom 1
Main,First
Kitchen
Living Room
Lvl First

Flooring - Wood, Balcony / Deck, Recessed Lighting, Lighting - Overhead

Kitchen
Lvl Main,First

Bathroom - Half, Flooring - Wood, Recessed Lighting, Lighting - Overhead

Primary Bedroom
Lvl Second

Bathroom - 3/4, Beamed Ceilings, Vaulted Ceiling(s), Closet, Flooring - Wood, Lighting - Overhead

Bedroom 2
Lvl Second
Bathroom 1
Lvl First

Bathroom - Half, Washer Hookup

Bathroom 2
Lvl Second

Bathroom - 3/4

Bathroom 3
Lvl Second

Bathroom - Full

Listing Provided By

Listing Agent: Charlotte Luber

Listing Office: Compass

MLS® Number: 73577576