
13 First Street #A1 Salem — Photo 1 of 29
$675,000
Investment Analysis — 13 First Street #A1
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 1.84% cap rate and $12,392/yr in estimated NOI at the $675,000 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
2
SqFt
1,853
Style
Condominium
Built
1986
Open Saturday & Sunday, 9/12 & 9/13, from 10 AM to 12 PM. Welcome to 13 First Street, Unit 13-A1 at The Cloister Condominiums in Salem, a beautifully updated two-level townhouse offering the space, comfort, and flexibility of a single-family home with the ease of condominium living. An exceptional option for buyers looking to downsize without sacrificing the features they love, this distinctive home offers two spacious bedrooms, two updated full baths, beautifully finished living spaces, and the rare convenience of two garage spaces. The main living level is bright, inviting, and designed for both everyday comfort and entertaining. Gorgeous rich hardwood floors flow through the living and dining areas and into the kitchen, creating a warm and cohesive feel throughout. The kitchen features stainless steel appliances, generous cabinetry, stone countertops, and a stylish backsplash. Large windows and sliding glass doors bring in abundant natural light, while the dining area opens to the deck, perfect for morning coffee, outdoor dining, or simply enjoying the peaceful surroundings. The two bedrooms are thoughtfully positioned for added privacy, complemented by two beautifully updated bathrooms. The finished lower level takes this home to another level. A spacious family room creates the perfect setting for movie nights, entertaining, or relaxing by the sleek electric fireplace. A custom bar adds character and makes this an ideal gathering space. French doors lead to a versatile bonus area featuring an infrared sauna, exercise space, laundry, and additional storage, allowing you to create a private wellness retreat right at home. A striking custom wine display adds an unexpected designer touch. Outside, mature trees and established landscaping create an attractive setting within The Cloister community, while the home's multiple outdoor spaces provide opportunities to relax and unwind. With its flexible two-level floor plan, tasteful updates, impressive entertaining spaces, abundant storage, and two garages, Unit 13-A1 offers a combination that is increasingly difficult to find. Whether you're downsizing, simplifying, or simply looking for a move-in-ready Salem home with room to live, entertain, and pursue your interests, 13 First Street offers condominium convenience without asking you to compromise on space or lifestyle.
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.
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Property Details
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Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Disposal • Refrigerator
Neighborhood
Public Transportation • Shopping • Walk/Jog Trails • Golf • Medical Facility • Bike Path
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Second13 x 20.666666666
Balcony / Deck, Recessed Lighting, Crown Molding, Flooring - Engineered Hardwood
Dining Room
Lvl Second11.666666666 x 11.333333333
Balcony / Deck, Lighting - Overhead, Crown Molding, Flooring - Engineered Hardwood
Kitchen
Lvl Second11.333333333 x 15.666666666
Countertops - Stone/Granite/Solid, Recessed Lighting, Stainless Steel Appliances, Lighting - Pendant, Crown Molding, Flooring - Engineered Hardwood
Office
Lvl FirstFlooring - Stone/Ceramic Tile
Family Room
Lvl First20.25 x 19.333333333
Flooring - Stone/Ceramic Tile, Recessed Lighting
Primary Bedroom
Lvl Second12 x 18.25
Bathroom - Full, Closet, Flooring - Stone/Ceramic Tile, Lighting - Sconce, Lighting - Overhead, Flooring - Engineered Hardwood
Bedroom 2
Lvl Second13.166666666 x 12.25
Bathroom 1
Lvl Second11.166666666 x 9.083333333
Bathroom - Full, Bathroom - Tiled With Tub, Walk-In Closet(s), Flooring - Stone/Ceramic Tile, Flooring - Engineered Hardwood
Bathroom 2
Lvl Second7.75 x 12.166666666
Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Remodeled
Listing Agent: Derek T. Beatrice
Listing Office: Real Broker MA, LLC
MLS® Number: 73574180
