16 Franklin St #2403SalemMA01970
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Salem at 16 Franklin St #2403, Salem, MA, 01970 earns from $4,198/mo rent with a $5,996/mo payment. Total monthly income totals $4,198/mo. ROI tracks 9.72% on current figures, and rental yield reads 4.11% at a $1,225,000 purchase. Equity gained on principal adds $7,905/yr, and 5% annual appreciation supports $338,445 over five years. Five-year ROI reaches 48.24% and total cumulative return in cash sums $191,472. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $4,198/mo property income instead of your personal income.
Condo
Built in 2025
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01970, Salem, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,846 (100%) |
| Owner Occupied HU | 10,263 (49.2%) |
| Renter Occupied HU | 9,561 (45.9%) |
| Vacant Housing Units | 1,022 ( 4.9%) |
| Median Home Value | $626,422 |
| Average Home Value | $665,116 |
Housing Distribution
Address Breakdown
Residential
18,571
Single Family
12,690
Multi-Family
5,881
Businesses
1,702
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Listed by: Merry Fox Team • MerryFox Realty
Mls Name: MLS PIN
Mls ID: #73467805