255 3rd St #206
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
35% of that payment is not the mortgage. The HOA fee alone is $55,500 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $3,487.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($25,950). 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
✅ Falling · -3.1%/yrReconstructed from 5 units of recorded sales at 255 3rd St — every recorded sale carries its HOA fee and date. No listing site shows this.
These dues have actually fallen over 2 years across 5 units — unusual. Worth confirming the building isn't underfunding its reserves to keep the fee low.
🏢 Get this building's full reserve & assessment report — free →✅ Positives
- On market 145 days → strong negotiating leverage
- In-unit W/D
- Garage parking
⚠️ Cons
- HOA $925/mo
- Older building (1921)
🚩 Red flags
Photos
Price history (this unit)
- May 19, 2026 — Listed $519,000
- May 2, 2026 — Coming Soon $519,000
- Oct 16, 2014 — Sold (MLS) $480,000
- Oct 16, 2014 — Sold (Public Records) $480,000
- Sep 2, 2014 — Listed $475,000
- Mar 31, 2006 — Sold (MLS) $440,000
Description
Spectacular warehouse conversion loft in the heart of Jack London Square with sleek finishes, clever storage options and private outdoor space. In the fashion of a true loft the property offers double height ceilings, mushroom capped columns, library with sliding ladder & a wall of Southwest facing warehouse windows. This inspiring property comes with deeded parking and is located steps to the waterfront, restaurants, transportation and more. Come see what the buzz is all about in Jack London Square.