Buy-In Condos In Salem That You Can Afford Right Now
You’re not going to make a million dollars flipping mini-condos in Salem.
But if you see yourself sticking around the area for a while (7 years is my guess; enough time for all of these foreclosures and bankruptcies to fully dissipate, when we hopefully get a whole lot of qualified buyers back in the market) you should consider buying a cheap little condo. Your payments might be lower than your rent on a 30 year mortgage, and even if the property doesn’t appreciate — well, it’s been compared to “forced savings.” It beats paying a landlord.
And no more of Steve’s hair clogging the drain, or Rachel’s dirty dishes.
Here are three to think about:
Dropped from $125k! Needs works…but how much work can a condo use? This is a lot of square footage for the price.
…Oh. Looks like fire damage to the property. There’s another unit available in the same building, #3.
4-4A Ropes Street, #1
Salem, MA 01970
Beds: 3/Baths:1
SQ.FT.: 1007
$49,000
This one looks great, but also needs some “renovation” — the outside is pretty, but it irritates me when selling agents post lousy MLS pics. It doesn’t sound as extreme as the last one, though. Remember that asking price is what the seller hopes to get….
15 Lynde Street, #31
Salem, MA 01970
Beds: 1/Baths:1
SQ.FT.:518
$ 69,900
This last one looks like a much simpler deal, but you can also look at the lowest priced properties in Salem on the Salem Neighborhood Page.
44 Prince Street Address, #2
Salem, MA 01970
Beds: 3/Baths: 1
SQ.FT.: 1109
$90,000
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