285 Main St #404
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
36% of that payment is not the mortgage. The HOA fee alone is $48,420 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $2,893.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($21,465). 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 8 units of recorded sales at 285 Main 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
- 21% below model fair value
- Upper floor (fl 4)
- In-unit W/D
- Newer build (2020)
⚠️ Cons
- Small (554 sf)
- HOA $807/mo
🚩 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
Photos
Price history (this unit)
- Sep 8, 2026 — Listed $429,293
Description
Rare chance to own a modern unit in one of SF’s premier luxury communities — MIRA SF. This apartment style, 1-bedroom unit features in-unit washer/dryer, LG refrigerator, and custom closet organization. Enjoy MIRA’s luxury amenities: state-of-the-art fitness center, rooftop terrace with BBQs, residents’ lounge, private dining room, 24/7 lobby attendant, and more—all in an unbeatable location across from East Cut Crossing, just one block from the Embarcadero and minutes to BART. 1-bedroom Below Market Rate (BMR) housing opportunity available at 100% Area Median Income (AMI). Maximum income for 1 person = $113,450; 2 people = $129,700; 3 = $145,900; 4 = $162,100; 5 = $175,050. Must be…