39 Hunters Run

Fairport, NY 14534

$349,900C-

5 bd · 2.5 ba · 1,288 sqft · Built 1959 · SingleFamily · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,310/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$699
• HOA: −$0
• Vac / Maint / Mgmt: −$695
• Net cashflow: $81/mo
• Annual: $968/yr
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• 1% rule: 0.95%
• Cash to close: $97,972

Investor read

• This is a 5-bed/2.5-bath single-family listed at $350k.
• At list price, monthly cash flow is $81 ($968/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $331k (5.4% below list).
• It's been on market 37 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $331k (5.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#301 in NY, #4,847 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, schools A; Watch: commute F.
• Pittsford Central School District (suburban): math 80% / reading 84% proficiency, ranked #34 of 590 in NY (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 186 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $227k; list at $350k implies a 54% gain — meaningful room to come down on a strong offer.
• Cap rate 6.6% vs local median 3.4% in Fairport — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.