38623 Cherry Ln #150
Higher is a better buy. 50 is "priced about right for what it is". The last step curves the raw advantage onto 0–100, so points stop being one-for-one at the extremes.
💵What this unit actually costs per month
29% of that payment is not the mortgage. The HOA fee alone is $34,920 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $3,627.
FHA approval has expired on this project. An FHA buyer cannot use it today, and the fact that it once qualified and then stopped is worth asking the board about. Plan on a conventional loan — 5% down at the very least.
Minimum realistic down payment here: 5% · verify on HUD's lookup
Rate is the Freddie Mac PMMS 30-year average for the week of 2026-11-05 — 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
🚩 Rising fast · +7%/yrReconstructed from 17 units of recorded sales at 38623 Cherry Ln — every recorded sale carries its HOA fee and date. No listing site shows this.
These dues climbed 40% in 5 years — about +7%/yr across 17 units of recorded sales, well above inflation. A rise this steep is a leading signal of a special assessment, a drained reserve fund, or an insurance shock. The listing never shows it; the building's documents are where the "why" lives.
🏢 Get this building's full reserve & assessment report — free →✅ Positives
- 17% below model fair value
- In-unit W/D
- Garage parking
- Low HOA (1.3%/yr)
⚠️ Cons
- HOA $582/mo
- Ground floor
- Photos look dim — verify light in person
🚩 Red flags
- Only 1 photo — verify condition
Photos
Price history (this unit)
- Jan 6, 2012 — Sold (MLS) $155,000
- Aug 7, 1998 — Sold (MLS) $160,000
Description
Welcome to this beautifully renovated 3 bed, 1.5 bath townhouse-style home in the heart of Fremont, where modern style, comfort, and convenience come together! Step inside and discover a bright, inviting home featuring today's most desirable colors, contemporary finishes, and thoughtful upgrades throughout. Stylish flooring, fresh interior paint, updated appliances, and recessed lighting create a fresh, modern atmosphere. An updated heating and air conditioning system adds year-round comfort, making this home as practical as it is beautiful. The community offers a swimming pool, clubhouse, children's playground, and landscaped pathways. Recent new plumbing and upgraded water shutoff…