551 Jean St #410
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
40% of that payment is not the mortgage. The HOA fee alone is $41,400 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $1,904.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($13,995). 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
🚩 Rising fast · +11.1%/yrReconstructed from 8 units of recorded sales at 551 Jean St — every recorded sale carries its HOA fee and date. No listing site shows this.
These dues climbed 37% in 3 years — about +11.1%/yr across 8 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
- Low sticker
⚠️ Cons
- Smallest tier (564 sf)
- Ground floor
🚩 Red flags
- 28% above comps on $/sf
- HOA $690/mo
- Ground-floor security/privacy
Photos
Price history (this unit)
- Sep 1, 2026 — Listed $289,900
- Aug 25, 2020 — Sold (MLS) $435,000
- Aug 25, 2020 — Sold (MLS) $435,000
- Aug 25, 2020 — Sold (Public Records) $435,000
- Jul 14, 2020 — Price Changed $439,000
- May 4, 2020 — Listed $449,000
Description
Turnkey Grand Lake Living with Views & Parking. Fully remodeled and highly walkable, this exceptional Grand Lake condo features an open kitchen with premium butcher block counter, stainless steel appliances, modern track lighting, and a stylish backsplash. Enjoy luxury vinyl flooring throughout and relax on your massive private balcony overlooking panoramic neighborhood vistas. Includes coveted deeded parking and additional private storage. Walk to your favorite Grand Lake cafes, boutiques, and daily conveniences in minutes.