08/01/2026
If you’re currently renting, or looking for a rental, and assumed buying wasn’t an option because you don’t have 20% down, this is worth exploring.
10 Daniels St Unit 2 in Salem is a perfect (available) example. A comparable 3 bedroom rental may cost approximately $3,200 per month. With 20% down, the estimated monthly ownership cost is approximately $3,497, including principal and interest, property taxes, condo fee, unit insurance, heat, hot water, water, sewer, master insurance, building maintenance, snow removal and reserve funding.
Don’t have 20% down? You may not need it. Low down payment, no monthly PMI and down payment assistance programs may be available. Depending on eligibility and current funding, MassHousing may offer up to $30,000 and the City of Salem may offer up to $7,500 in assistance.
This beautifully renovated 3 bedroom condo also includes 2 car parking, additional storage, in-unit laundry and is pet-friendly. Rentals are also currently permitted under the condominium documents, creating the potential to build equity now and retain the property as a future rental investment.
Even if this particular property isn’t the right fit, it may be worth finding out what your own options look like.
Don’t have a lender? I work with amazing, experienced local lenders and would be happy to make an introduction.
Message me for more information or to schedule a private showing.
Sarah Myles-Lennox
MerryFox Realty
857-523-9733
[email protected]