1 Federal St #47
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
50% of that payment is not the mortgage. The HOA fee alone is $56,760 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $1,521.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($11,108). 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 3 units of recorded sales at 1 Federal St — 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
- Cheapest of 141 tracked in Sf District 9
- 75% below model fair value
- Upper floor (fl 4)
⚠️ Cons
- 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
- HOA $946/mo — 5.1%/yr of the price
Photos
Price history (this unit)
- Sep 29, 2026 — Listed $222,167
Description
Incredibly unique spacious top floor studio! High ceilings, in unit W/ D, gas fireplace, 1 car parking, large closets, and good natural make this a very special home. Building amenities include gym and 24 hour doorperson. Temporary waivers apply to this unit 20% over posted AMI which would be 100% AMI, Asset test waived, see Dahlia listing for complete waivers list. Below Market Rate (BMR) housing opportunity available at 80% Area Median Income (AMI). See waivers for higher qualifying AMI Maximum income for 1 person = $90,750; 2 = $103,750; 3 = $116,700; 4 = $129,700; 5 = $140,050 etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and…