16 Phelps St #2 Salem — Photo 1 of 40
$525,000
Investment Analysis — 16 Phelps St #2
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 2.85% cap rate and $14,948/yr in estimated NOI at the $525,000 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
2
SqFt
927
Style
Condominium
Built
1920
Welcome home to this beautifully renovated (2021) single-level condo tucked on a quiet side street in one of Salem's most desirable neighborhoods, abutting the historic McIntire District. Here you'll enjoy the serenity of a peaceful, tree-lined setting while living just minutes from the museums, library, shops, restaurants and nightlife of vibrant downtown Salem. This 2-bedroom, 2-bath residence delivers the perfect blend of comfort, style and convenience, with an effortless flow that suits easy living, working from home, or entertaining. Sun-filled rooms showcase hardwood floors, exposed brick, and recessed lighting, while the stunning Quartz and stainless kitchen anchors the space alongside efficient modern systems and in-unit laundry. Retreat and relax in the primary en suite, complete with a tiled, floor-to-ceiling oversized shower and walk-in closet space. This special offering also includes 2-car off-street parking, an expansive common yard, a pet-friendly policy and extra basement storage. A unique opportunity to own a turn-key home that combines thoughtful updates, historic charm, and an unbeatable location
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 MLS and other third-party data may be inaccurate or out of date.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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Range • Dishwasher • Disposal • Microwave • Refrigerator • Washer/Dryer
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Living Room
Lvl SecondKitchen
Lvl SecondMaster Bedroom
Lvl SecondBedroom 2
Lvl SecondBathroom 1
Lvl SecondBathroom 2
Lvl SecondListing Agent: Zoe Karademos
Listing Office: Coldwell Banker Realty - Marblehead
MLS® Number: 73574179
