245 5th St #103
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
26% of that payment is not the mortgage. The HOA fee alone is $48,240 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $6,659.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($49,900). 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 ($804 in 2026), not enough for a trend yet. The listing shows $804/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
- 26% below model fair value
- In-unit W/D
- Garage parking
- Low HOA (1%/yr)
⚠️ Cons
- HOA $804/mo
- Ground floor
- Photos look dim — verify light in person
🚩 Red flags
- Listed BELOW its 2017 sale ($1100k) → value eroding
- Live/work loft — workspace-heavy sqft and a thinner buyer pool inflate the apparent discount vs regular condo comps
Photos
Price history (this unit)
- Sep 15, 2026 — Listed $998,000
- Mar 6, 2017 — Sold (MLS) $1,100,000
- Mar 6, 2017 — Sold (Public Records) $1,100,000
- Jan 16, 2017 — Listed $1,099,000
- Sep 25, 2012 — Sold (MLS) $765,000
- Sep 25, 2012 — Listed $780,000
Description
Welcome to 245 5th St #103, a dramatic 2BD/2BA live/work loft offering approximately 1,566 sqft in the iconic Tehama Lofts. Originally built as the historic Field-Ernst Envelope Factory and converted to boutique loft condominiums in 1996, this architecturally striking building blends industrial character with modern city living in the heart of SoMa. Featuring soaring ceilings and an expansive open floor plan, this home offers incredible volume, natural light, and an ideal layout for entertaining. The spacious living and dining areas flow seamlessly into the updated kitchen featuring premium KitchenAid appliances, including a never-used induction range. Recent upgrades include fresh interior…