386 Rhythm Ln
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
26% of that payment is not the mortgage. The HOA fee alone is $16,980 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $2,739.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($20,300). 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
We haven't reconstructed a multi-year fee history for this building yet. We have one recorded fee on file ($283 in 2026), not enough for a trend yet. The listing shows $283/mo today. Upload its HOA docs and we'll build the full reserve & special-assessment report — free.
🏢 Get this building's free HOA report →✅ Positives
- On market 137 days → strong negotiating leverage
- In-unit W/D
- Garage parking
- Low HOA (0.8%/yr)
⚠️ Cons
- Small (429 sf)
- Photos look dim — verify light in person
🚩 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)
- May 27, 2026 — Listed $406,000
- May 27, 2026 — Listed $406,000
Description
Welcome to 386 Rhythm Lane in Hayward! Here is a great opportunity to purchase a modern 1-bedroom, 1-bath condo through the City of Hayward Below Market Rate (BMR) program. Non-first-time buyers may still qualify, subject to city income and program requirements. Built in 2021 and tucked inside the desirable SoHay community, this move-in ready corner unit offers a bright open floor plan with modern finishes throughout. Contemporary features include recessed lighting, dual-pane windows, a smart doorbell, and smart thermostat for added comfort and convenience. The kitchen is designed with style and functionality in mind, featuring, a gas stove with full backsplash, and sleek shaker cabinetry.…