16 Franklin Street #1302 Salem — Photo 1 of 30
$1,000,000
Investment Analysis — 16 Franklin Street #1302
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 0.26% cap rate and $2,623/yr in estimated NOI at the $1,000,000 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
2
SqFt
1,467
Style
Condominium
Built
2025
Experience elevated living at RIVERWALK, ideally located near the heart of downtown Salem and the MBTA commuter rail to Boston. Enjoy the convenience of being close to Salem’s renowned restaurants, boutique shopping, historic sites, waterfront, Salem Harbor, cultural attractions, and transportation—while coming home to sophisticated new construction with sweeping river and city skyline views. For Boston commuters, the nearby commuter rail makes getting into the city convenient, while downtown Salem is close enough to enjoy the best of the North Shore without sacrificing luxury or tranquility.This beautifully designed 2+ bedroom, 2-bath residence offers an exceptional floor plan with dual primary suites, a dedicated home office, soaring ceilings, oversized windows, and high-end finishes throughout. The open-concept living and dining areas are filled with natural light and feature elegant European oak hardwood floors. The designer kitchen is equipped with Bosch stainless steel appliances, custom cabinetry, and quartz countertops, creating a stylish and functional space for everyday living and entertaining.The spacious primary suite provides a private retreat with a walk-in closet and spa-inspired bath featuring radiant heated floors, double vanity, oversized tiled shower, and smart bidet. A second primary suite offers flexibility for guests, family, or additional living space, while the dedicated home office is ideal for today’s work-from-home lifestyle.RIVERWALK residents enjoy an impressive array of amenities including heated indoor garage parking, elevator access, fitness center, Clubroom Lounge, and beautifully landscaped riverside outdoor gathering spaces.With the Salem MBTA commuter rail, downtown Salem, restaurants, shopping, waterfront, Salem Harbor, and historic attractions all nearby, RIVERWALK offers a rare combination of luxury, convenience, and location. Enjoy sophisticated single-level living with Boston just a train ride away and everything Salem has to offer right outside your door.
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 • Disposal • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Golf • Medical Facility
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl ThirdDining Room
Lvl ThirdKitchen
Lvl ThirdOffice
Lvl ThirdPrimary Bedroom
Lvl ThirdBedroom 2
Lvl ThirdBathroom 1
Lvl ThirdBathroom - Full
Bathroom 2
Lvl ThirdBathroom - Full
Listing Agent: Merry Fox Team
Listing Office: MerryFox Realty
MLS® Number: 73578980
