38623 Cherry Ln #193
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 $3,619.
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 2026-10-08 — 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
🚩 Rising fast · +7%/yrReconstructed from 16 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 16 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
- In-unit W/D
- Low HOA (1.3%/yr)
⚠️ Cons
- HOA $582/mo
- Ground floor
🚩 Red flags
Photos
Price history (this unit)
- Sep 24, 2026 — Listed $539,000
- Sep 24, 2026 — Listed $539,000
- Nov 24, 1993 — Sold (Public Records) $106,500
- May 22, 1987 — Sold (Public Records) $78,000
Description
Beautifully updated & centrally located in Fremont, this inviting 2-bedroom, 1.5-bath condo offers a comfortable and thoughtfully designed floor plan. Walk into the generously spaced living room which features a durable ceramic tile flooring that flows throughout the first floor & includes a wall-mounted AC unit. Enjoy an updated kitchen showcasing quartz countertops & a brand-new stove/oven range. Breakfast nook off of the kitchen & living room & a convenient downstairs half bath adds functionality. Private patio off of the kitchen slider provides a nice space for outdoor entertainment. The spacious upstairs bedrooms have oversized closets. There is a full bathroom and convenient full-size…