40425 Chapel Way #315
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
28% of that payment is not the mortgage. The HOA fee alone is $42,300 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $4,586.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($34,250). 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
2 recorded pointsReconstructed from 6 units of recorded sales at 40425 Chapel Way — 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
- On market 87 days → some leverage
- Upper floor (fl 3)
- In-unit W/D
- Garage parking
⚠️ Cons
- HOA $705/mo
- Photos look dim — verify light in person
🚩 Red flags
Photos
Price history (this unit)
- Jul 16, 2026 — Listed $699,000
- Aug 19, 2004 — Sold (MLS) $349,000
- Aug 19, 2004 — Sold (MLS) $349,000
- Aug 19, 2004 — Sold (Public Records) $349,000
- Jun 29, 2004 — Listed $349,000
- Jun 29, 2004 — Listed $349,000
Description
Welcome to Park Place! This meticulously maintained top-floor condo—featuring 3 bedrooms, 2 bathrooms, and 1,228 sq. ft. of living space—is highly sought after for its prime location, both within the complex and the desirable Irvington neighborhood. Inside, the beautifully equipped galley kitchen features elegant granite countertops, full tile backsplash, electric stove, dishwasher, and an under-mount sink, flowing seamlessly into the dining area and a cozy living room complete with a fireplace. The spacious primary suite serves as a private retreat with a walk-in closet, an additional second closet, and an ensuite bathroom with standing shower. Two additional well-sized bedrooms offer…