Active
19 Days on market
10 Norman Street #502 Salem — Photo 1 of 38

10 Norman Street #502 Salem — Photo 1 of 38

Recent Drop: $10,000

$449,000
$439,000

$439,000

Investment Analysis — 10 Norman Street #502

Salem, MA 01970 — Downtown

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 2.94% cap rate and $12,920/yr in estimated NOI at the $439,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

2

Baths

2

SqFt

1,064

Style

Condominium

Built

1980

What a location! Leave your car at home and access all Salem has to offer! This end unit penthouse condo is one of the only 2 bedrooms with 2 full bath on the market in Salem. Sited in Heritage Plaza within a courtyard of three well-maintained buildings in the heart of downtown Salem with two serene outdoor seating areas. Building amenities include an elevator, the Heritage community room, fitness center with sauna, on-site storage lockers, lovely outdoor sitting areas, an exclusive use parking space and ample visitor parking. The primary bedroom ensuite with room for a king sized bed, has abundant closet space and a washing machine and dyer. The dining room offers beautiful built-ins great for storage as well as to display cherished photos and collectables. Freshly painted 2023. Fabulous location! Use your key to open the back gate where you are steps away from cafes & restaurants (Ledgers, O'Neils, Rockafells...), shops, museums, Commuter Rail Station and Salem Ferry. Be in your new condo this fall!

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 MLS and other third-party data may be inaccurate or out of date.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$449,000
Annual Taxes$4,391
HOA Fee$503

Parking

Garage0
Off-Street1

Interior Specifications

Total Rooms4
FireplacesNone
FlooringTile, Carpet
BasementY

Climate & Utilities

HeatingBaseboard, Natural Gas
CoolingWall Unit(s)
WaterPublic
SewerPublic Sewer

Building & Exterior

Construction--
Roof--
Foundation--
ZoningRES

Property & Lot

Acres--
SqFt Lot--
Lot Features--

Amenities & Appliances

Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Park • Golf • Medical Facility • Highway Access

Geography

Floorplan Breakdown

Structural Layout

First
Living RoomDining RoomKitchenPrimary BedroomBedroom 2Bathroom 1Bathroom 2
Living Room
Lvl First

18 x 13

Flooring - Wall to Wall Carpet, Window(s) - Picture

Dining Room
Lvl First

10 x 9

Closet/Cabinets - Custom Built, Flooring - Wall to Wall Carpet

Kitchen
Lvl First

9 x 8

Flooring - Stone/Ceramic Tile, Breakfast Bar / Nook, Crown Molding

Primary Bedroom
Lvl First

15 x 14

Bathroom - Full, Flooring - Wall to Wall Carpet, Closet - Double

Bedroom 2
Lvl First

11 x 11

Bathroom 1
Lvl First

Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile

Bathroom 2
Lvl First

Bathroom - Full, Bathroom - Tiled With Shower Stall

Property History

Price Drop
$439,000

Was $449,000

Sep 19, 2026

MLS® 73570488

Listed
$449,000

Sep 1, 2026

MLS® 73570488

Listing Provided By

Listing Agent: Shari Mcstay

Listing Office: Keller Williams Realty Evolution

MLS® Number: 73570488