By Steve Gillman
As of 2014 there are still cheap condos all over the country.
So many, in fact, that the name of this website is once again
totally appropriate. The criteria used for the towns below is
that there must be condos with at least two bedrooms and 800
square feet under $100,000.
There are two great opportunities in general here. One is
to buy a home or second residence for yourself. The other is
to start buying up all these inexpensive condos as rentals. Even
after you pay the association dues there is great cash flow to
be had with some of them. Just be sure that you are allowed to
rent them before buying. Some places require that you own it
as a resident for a year first, other limit how you can rent
it (minimum periods, for example), and others just don't allow
rentals. Here is some of what's out there right now...
Las Vegas, Nevada
Cheap condos are abundant here now. The cheapest ones start
under $50,000, although they seem to be mostly short sales in
this price range. A short sale doesn't always go through, and
when it does it is often for more than the asking price. But
under $100,000 there are dozens of decent places to buy.
It is safe to assume that the two condos listed for under
$10,000 at the moment are rough, and short sales and foreclosures
fill the listings in every price range. Prices have clearly been
rising since we first created this page in 2012. You can still
find some condos for under $60,000 if you are willing to look
at foreclosures and short sales.
There are condos selling for under $10,000 at the moment,
but the listings look pretty rough until you get past $20,000.
It isn't easy to get information on the association dues because
real estate agents are second only to used car salesmen in sleazy
practices, so they do not offer this crucial information for
most listings. There are about 160 condos under $100,000 in Atlanta
at the moment, and by the time you get up to $50,000 you'll be
looking at units with 1,500 square feet.
Myrtle Beach, South Carolina
The cheapest condo for sale at the moment looks really nice,
and is just $24,900, but it is in a senior living building, so
there may be age restrictions. Fortunately there are about 90
others around town which meet our criteria. Some are within walking
distance of the beach (at least if you like long walks).
There are dozens of condos here that are selling for under
$60,000, and at least ten going for under $30,000 at the moment.
The ones in that price range would probably make great rental
Charlotte, North Carolina
There are over 40 units that meet our criteria here. The cheapest,
at $9,000, looks like it's a fixer-upper, but there are several
under $50,000 which appear to be livable as they are. Those are
the ones that would likely make great rentals.
There are hundreds of cheap condos here, and they start at
less than $10,000. But to be honest, it is difficult to judge
the neighborhoods from online photos, and most of the cheapest
ones look pretty rough. There are probably many opportunities
for income investors here, and some decent homes for around $50,000.
Recently removed from this list because of higher prices:
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