1121 40th St #4201
This is an income-restricted (BMR) resale. Its price is set by an income formula, not by the market, so the gap against normal comps is not equity you own — it is a restriction you inherit, with income limits to qualify and a formula price when you sell. Scoring it against market comps would flatter it enormously, so we don't score it at all.
💵What this unit actually costs per month
42% of that payment is not the mortgage. The HOA fee alone is $38,880 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $1,606.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($11,750). Common for small associations and not a defect on its own, but it does remove FHA buyers from your resale pool.
Minimum realistic down payment here: 5% · verify on HUD's lookup
Rate is the Freddie Mac PMMS 30-year average for the week of 2026-10-08 — a national survey figure, not a quote. Tax, insurance and closing costs are estimates; your own Loan Estimate is the real number.
This building's HOA fees
6 recorded pointsReconstructed from 26 units of recorded sales at 1121 40th St — every recorded sale carries its HOA fee and date. No listing site shows this.
We have a few recorded HOA fees for this building but not yet enough to call a reliable trend, so these are the raw points — no rate implied. Its documents fill in the reserve health and assessment risk.
🏢 Get this building's full reserve & assessment report — free →✅ Positives
- 22% below model fair value
- On market 132 days → strong negotiating leverage
- Upper floor (fl 42)
- In-unit W/D
⚠️ Cons
- HOA $648/mo
🚩 Red flags
- Income-restricted (BMR) resale — price set by an income formula, not the market; buyer income limits apply and the gap vs comps is not equity
Photos
Price history (this unit)
- Jun 1, 2026 — Listed $235,000
Description
Discover modern, move-in-ready living in the heart of Emeryville — and one of the Bay Area's rare BMR opportunities with NO income limits and NO first-time buyer requirement. This bright 1-bed, 1-bath condo features an open-concept layout, abundant natural light, in-unit laundry, generous closet space, and a private balcony. Residents enjoy gated parking, a fitness center, and a relaxing jacuzzi. Commuting is effortless: less than half a mile to MacArthur BART, with the free Emery-Go-Round shuttle and Transbay F bus right outside — direct access to BART, Bay Street, Emeryville Marina, San Francisco, and UC Berkeley. Trader Joe's, Whole Foods, Berkeley Bowl, and Pak 'n Save are all minutes…