40 Essex Street #1 Salem — Photo 1 of 28
$549,900
Investment Analysis — 40 Essex Street #1
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 2.97% cap rate and $16,319/yr in estimated NOI at the $549,900 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
2
SqFt
1,153
Style
Condominium
Built
1870
Too good to be true????? Ideally located just 0.2 miles from vibrant downtown Salem and the Salem Common, this sunny FIRST-FLOOR home offers comfortable, convenient city living. The open-concept layout features TWO BEDROOMS AND TWO FULL BATHROOMS along with beautiful hardwood floors throughout. The well-appointed kitchen boasts granite countertops and stainless steel appliances, while CENTRAL A/C and IN-UNIT LAUNDRY add everyday comfort and convenience. A private entrance with a charming porch provides a welcoming outdoor space. Additional amenities include basement storage, GARAGE PARKING FOR ONE CAR, plus an additional driveway space. PET-FRIENDLY with one dog or cat permitted per unit. A wonderful opportunity to enjoy all that 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 MLS and other third-party data may be inaccurate or out of date.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 • Walk/Jog Trails • Medical Facility
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstFlooring - Hardwood
Dining Room
Lvl FirstFlooring - Hardwood
Kitchen
Lvl FirstFlooring - Hardwood, Countertops - Stone/Granite/Solid, Kitchen Island, Open Floorplan, Stainless Steel Appliances
Primary Bedroom
Lvl FirstBathroom - Full, Bathroom - 3/4, Closet, Flooring - Wall to Wall Carpet
Bedroom 2
Lvl FirstBathroom 1
Lvl FirstBathroom - Full, Dryer Hookup - Electric, Washer Hookup
Bathroom 2
Lvl FirstBathroom - Full
Listing Agent: Merry Fox Team
Listing Office: MerryFox Realty
MLS® Number: 73570783
