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87 Bridge St #2 Salem — Photo 1 of 28

87 Bridge St #2 Salem — Photo 1 of 28

$689,000

Investment Analysis — 87 Bridge St #2

Salem, MA 01970 — Salem Neck

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01970 carries an estimated $3,080/mo in gross rent — about a 2.88% cap rate and $19,850/yr in estimated NOI at the $689,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

2.5

SqFt

1,860

Style

Condominium

Built

1900

It is all about location. Welcome to 87 Bridge Street, Unit 2 in the Salem Neck neighborhood near Collins Cove Park & Beach. Originally built in 1900 and renovated in 2016, this spacious townhome offers four levels of living space with a versatile floor plan and a combination of classic character and modern updates.The main level features an open floor plan with hardwood flooring and recessed lighting. The kitchen offers premium grade stone/granite countertops, white shaker cabinets, a glass tile backsplash,a breakfast bar, & stainless steel appliances, including a newer dishwasher and refrigerator, with direct flow into the dining and living areas. A convenient half bath completes this level.The second floor includes two generously sized bedrooms with wood flooring and recessed lighting, along with a full tiled bathroom with tub featuring designer tile with mosaic accents.The private third-level primary suite features a generous sized walk-in closet and an en-suite spa like bathroom with a tiled shower and stone/granite vanity. The finished basement provides additional living space with a family room and storage, offering flexibility for a variety of uses. Additional features include central air conditioning, high efficiency gas heat, in-unit laundry with a full sized LG washer & dryer, access to common outdoor space, and exclusive parking. The property has its own exclusive driveway. Conveniently located near the Salem commuter rail, local parks, including Collins Cove Park & Beach, schools, and downtown Salem, with access to shopping, dining, and other area amenities. A spacious multi-level townhome with flexible living space and convenient access to all that Salem has to offer. Tenant is in place but moving out on or around 11/18.

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.

Open Houses

Property Details

Financials

Original Price$689,000
Annual Taxes$6,140
HOA Fee$175

Parking

Garage0
Off-Street1

Interior Specifications

Total Rooms6
FireplacesNone
FlooringTile, Carpet, Hardwood
BasementY

Climate & Utilities

HeatingForced Air, Baseboard, Natural Gas
CoolingCentral Air
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
Foundation--
ZoningB1

Property & Lot

Acres0.1
SqFt Lot4,500
Lot Features--

Amenities & Appliances

Range • Dishwasher • Disposal • Microwave • ENERGY STAR Qualified Refrigerator • ENERGY STAR Qualified Dryer • ENERGY STAR Qualified Dishwasher • ENERGY STAR Qualified Washer

Neighborhood

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

Geography

Floorplan Breakdown

Structural Layout

Third
Master BedroomBathroom 3
Second
Bedroom 2Bedroom 3Bathroom 2
First
Bathroom 1
Basement
Family Room
Main,First
Living RoomDining RoomKitchen
Living Room
Lvl Main,First

12 x 14

Bathroom - Half, Closet, Flooring - Hardwood, Cable Hookup, Open Floorplan, Recessed Lighting

Dining Room
Lvl Main,First

Flooring - Hardwood, Open Floorplan, Recessed Lighting

Kitchen
Lvl Main,First

12 x 11

Bathroom - Half, Flooring - Wood, Dining Area, Pantry, Countertops - Stone/Granite/Solid, Breakfast Bar / Nook, Open Floorplan, Recessed Lighting, Stainless Steel Appliances, Gas Stove

Family Room
Lvl Basement

23 x 10

Closet, Recessed Lighting, Flooring - Concrete

Master Bedroom
Lvl Third

18 x 15

Vaulted Ceiling(s), Walk-In Closet(s), Flooring - Wood, Recessed Lighting

Bedroom 2
Lvl Second

13 x 10

Bedroom 3
Lvl Second

11 x 10

Flooring - Wood, Recessed Lighting

Bathroom 1
Lvl First

Bathroom - Half, Flooring - Stone/Ceramic Tile

Bathroom 2
Lvl Second

Bathroom - Full, Bathroom - Tiled With Tub, Flooring - Stone/Ceramic Tile

Bathroom 3
Lvl Third

Bathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid

Listing Provided By

Listing Agent: Charleen Mccarthy

Listing Office: Five Mark Realty Group LLC

MLS® Number: 73575931