Active
52 Days on market
7 Crombie St #10 Salem — Photo 1 of 27

7 Crombie St #10 Salem — Photo 1 of 27

$469,900

Investment Analysis — 7 Crombie St #10

Salem, MA 01970

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 1-bedroom in 01970 carries an estimated $2,160/mo in gross rent — about a 2.58% cap rate and $12,126/yr in estimated NOI at the $469,900 list price. Adjust every assumption in the calculator below.

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Beds

1

Baths

1

SqFt

686

Style

Condominium

Built

1828

Brimming with historic character, yet updated for modern life, this chic condo in the heart of downtown Salem combines the best of both worlds! Originally built in 1828 as a theater, then later used as a church, this building features a beautiful brick exterior, slate roof, and elegant interior woodwork. Unit 10 provides two levels of flexible living space, including soaring ceilings, stunning woodwork that was formerly part of the church altar, and natural light that streams in from the skylights above. Perfect for entertaining, the brand new kitchen features dramatic burgundy cabinets, stainless steel appliances, and bold quartz countertops and backsplash. Adjacent to the kitchen, you'll find a cozy bedroom with a custom built-in wardrobe and ensuite bathroom inspired by a chic hotel. Upstairs is a bright and airy living space with additional storage. There's even a private balcony that offers a peaceful oasis from the hustle and bustle of downtown Salem. Centrally located in Salem's vibrant downtown, the unit is in close proximity to the MBTA Commuter Rail Station to Boston or instead, stay in Salem and enjoy a variety of restaurants, trendy shops, a world class museum, tranquil waterfront and many other amenities Salem has to offer.

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$469,900
Annual Taxes$3,234
HOA Fee$361.62

Parking

Garage1
Off-Street1

Interior Specifications

Total Rooms3
FireplacesNone
FlooringWood, Tile
BasementY

Climate & Utilities

HeatingForced Air, Natural Gas
CoolingCentral Air
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionBrick
RoofSlate, Rubber
Foundation--
ZoningB5

Property & Lot

Acres0.21
SqFt Lot8,934
Lot Features--

Amenities & Appliances

Range • Dishwasher • Disposal • Microwave • Refrigerator • Freezer • Washer • Dryer • Plumbed For Ice Maker

Neighborhood

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

Geography

Floorplan Breakdown

Structural Layout

Second
Living Room
First
KitchenPrimary BedroomBathroom 1
Living Room
Lvl Second

17 x 11

Skylight, Ceiling Fan(s), Closet, Flooring - Hardwood, Balcony / Deck

Kitchen
Lvl First

13 x 11

Ceiling Fan(s), Flooring - Hardwood, Dining Area, Countertops - Stone/Granite/Solid, Remodeled, Stainless Steel Appliances

Primary Bedroom
Lvl First

12 x 14

Bathroom - Full, Closet/Cabinets - Custom Built, Flooring - Hardwood

Bathroom 1
Lvl First

5 x 11

Bathroom - Full, Closet, Flooring - Stone/Ceramic Tile, Remodeled

Listing Provided By

Listing Agent: Elizabeth Fair

Listing Office: Aluxety

MLS® Number: 73557233