1160 Mission St #801
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
40% of that payment is not the mortgage. The HOA fee alone is $79,680 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $3,468.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($25,808). 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 · +6.9%/yrReconstructed from 16 units of recorded sales at 1160 Mission St — every recorded sale carries its HOA fee and date. No listing site shows this.
These dues climbed 40% in 5 years — about +6.9%/yr across 16 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
- 53% below model fair value
- Upper floor (fl 8)
- In-unit W/D
- Newer build (2008)
⚠️ Cons
- HOA $1328/mo
- 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
- Very high HOA $1328/mo (full-service high-rise)
Photos
Price history (this unit)
- Sep 10, 2026 — Listed $516,163
Description
SOMA Grand modern lifestyle with 24-hour concierge, 24-hour security-monitored parking garage with guest parking available, morning coffee service at lobby, fitness center, outdoor spa/hot tub, club room, community lounge, wellness studio, outdoor terrace with BBQ area and fire pit, landscaped garden and elevator. 2-bedroom/2-bathroom Below Market Rate (BMR) housing opportunity available at 100% Area Median Income (AMI). Maximum income for 2 people = $129,700; 3 = $145,900; 4 = $162,100, etc. Must be 1st-time homebuyer & income eligible. Unit available thru the Mayor's Office of Housing and Community Development (MOHCD) & subject to resale controls, monitoring & other restrictions. Unit…