
10 Norman Street #502 Salem — Photo 1 of 38
Recent Drop: $10,000
$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.
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 MLS and other third-party data may be inaccurate or out of date.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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Golf • Medical Facility • Highway Access
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First18 x 13
Flooring - Wall to Wall Carpet, Window(s) - Picture
Dining Room
Lvl First10 x 9
Closet/Cabinets - Custom Built, Flooring - Wall to Wall Carpet
Kitchen
Lvl First9 x 8
Flooring - Stone/Ceramic Tile, Breakfast Bar / Nook, Crown Molding
Primary Bedroom
Lvl First15 x 14
Bathroom - Full, Flooring - Wall to Wall Carpet, Closet - Double
Bedroom 2
Lvl First11 x 11
Bathroom 1
Lvl FirstBathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl FirstBathroom - Full, Bathroom - Tiled With Shower Stall
Property History
$439,000
Was $449,000
Sep 19, 2026
MLS® 73570488
$449,000
Sep 1, 2026
MLS® 73570488
Listing Agent: Shari Mcstay
Listing Office: Keller Williams Realty Evolution
MLS® Number: 73570488

