488 Folsom St #4406
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
27% of that payment is not the mortgage. The HOA fee alone is $136,440 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $15,268.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($114,900). 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
2 recorded pointsReconstructed from 27 units of recorded sales at 488 Folsom 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
- On market 65 days → some leverage
- Upper floor (fl 44)
- Low HOA (1.2%/yr)
- Newer build (2019)
⚠️ Cons
- 110% above model fair value
- HOA $2274/mo
🚩 Red flags
- Very high HOA $2274/mo (full-service high-rise)
Photos
Price history (this unit)
- Aug 7, 2026 — Listed $2,298,000
Description
Experience sophisticated living at Avery, South Beach's premier luxury condominium. This stunning 2-bedroom residence offers stunning water and bay bridge views through dramatic floor-to-ceiling windows. Designed for both comfort and style, the open-concept floor plan features a chef-inspired kitchen and a spacious primary suite with a spa-like bath, dual vanities, and elegant marble finishes. Spanning 2,053 sq. ft. , the home is complemented by exceptional amenities, including 24/7 concierge, valet parking, a state-of-the-art fitness center, lap pool, and resident lounges. Ideally situated in the heart of South Beach, Avery places the city's best dining, shopping, and entertainment just…