11 High Gate #5 · Fairport, NY 14450

$139,900

2 bd · 1.0 ba · 1,050 sqft · Condo · 1 Days on market

Built 1974 Good condition $354/mo HOA · 18% of rent

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.5/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +5.4/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully remodeled second-floor center-unit condo, thoughtfully updated from top to bottom! The brand-new kitchen shines with new cabinets, new countertops, a dishwasher, microwave, and high-end stove. Fresh paint and new carpeting create a clean, modern feel throughout, while the bright living room impresses with a gorgeous cathedral ceiling and sliding glass doors that open to your private balcony. The spacious primary bedroom features a convenient half bath and an organized walk-in closet. Stylish, move-in ready, and full of updates, this one is a must-see! Delayed negotiations take place 6/24/26 at 11am.

Key facts

• Private balcony
• Remodeled kitchen
• New cabinets

Tags

• REMODELED KITCHEN
• NEW CABINETS
• NEW COUNTERTOPS
• PRIVATE BALCONY
• ORGANIZED WALK-IN CLOSET

Property features AI

Finance

• Financial info: Pets allowed with restrictions (breed, number, and size limits); cats and dogs permitted
• HOA & community: Association: Crofton Perdue Associates; Monthly association fee; Association fee covers common area maintenance, common area insurance, common areas, insurance, structure maintenance, sewer, snow removal, trash, and water; Association amenities include clubhouse and pool

Exterior

• Parking: No garage; Open parking available
• Utilities: Public water (connected); Sewer connected; Cable available
• Home design: Single-story property; Resale condition; Asphalt roof
• Construction: Brick and cedar construction
• Exterior features: Balcony; Community/association pool

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Eat-in kitchen
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Cathedral ceilings; Eat-in kitchen; Sliding glass doors
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.3% 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.

Location & tenants

• 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.
• Fairport Central School District (suburban): math 55% / reading 66% proficiency, ranked #199 of 590 in NY (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.8%/yr); 186 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.25%
• DSCR: 1.32
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-13,126
• Equity at exit: $20,860

10-year hold

• IRR: -6.4%
• Equity multiple: 0.66×
• Total profit: $-13,344
• Equity at exit: $12,096

Cash invested: $39,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14450

• Rents YoY: -0.8%
• Active inventory: 186
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,972 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$354
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $237

Break-even live

Break-even rent $1,672

Max offer price $139,900

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
370 Jefferson Ave Fairport, NY	1.0–3.0	1.0	997	$1,583	$1.59	2d	1	0.84mi
437 Ayrault Rd Fairport, NY	2.0	2.5	1424	$2,750	$1.93	14d	1	1.05mi
166 High St Unit B Fairport, NY	2.0	1.5	1300	$2,000	$1.54	23d	1	1.08mi
62 Manorshire Dr Fairport, NY	1.0–2.0	1.0–1.5	903	$1,680	$1.86	2d	19	1.15mi
16 Terrace Villas Fairport, NY	2.0	1.5	1090	$2,075	$1.90	2d	9	1.25mi
131 Broxbourne Dr Fairport, NY	3.0	2.0	1110	$2,700	$2.43	10d	1	1.31mi
1 White Pine Cir Fairport, NY	1.0–2.0	1.0	720	$1,521	$2.11	2d	1	1.32mi
6 Edendery Cir Fairport, NY	2.0	2.5	1064	$2,500	$2.35	2d	1	1.34mi

HOA detail condo

• Monthly dues: $354 · $4,248/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   pricedays on marketlisting id $139,900 Active 1 DOM
2. 2026-06-18
   days on market $149,900 Active 8 DOM
3. 2026-06-17
   days on market $149,900 Active 7 DOM
4. 2026-06-16
   days on market $149,900 Active 6 DOM
5. 2026-06-15
   days on market $149,900 Active 5 DOM
6. 2026-06-13
   remarks 639-char remark
7. 2026-06-13
   listed $149,900 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,658
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,893
• − Management: −$1,893
• − HOA: −$4,248
• − Depreciation: −$4,070
• Taxable income: $920
• Est. tax owed @ 24.0%: −$221
• After-tax cash flow: $2,619/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 2 photos

Good 80/100 Cosmetic rehab

This beautifully remodeled second-floor center-unit condo is in excellent condition with fresh updates throughout, making it a move-in ready and highly attractive property.

Value-add opportunities

• Both Painting exterior siding — Fresh paint enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and could attract more tenants.
• Both New flooring in bathrooms — Fresh flooring improves aesthetics and functionality.
• Both New window treatments — Enhances curb appeal and can improve energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Fresh paint enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and could attract more tenants. ↑
• Both New flooring in bathrooms — Fresh flooring improves aesthetics and functionality. ↑
• Both New window treatments — Enhances curb appeal and can improve energy efficiency. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fairport Central School District
• NCES district ID: 3610890
• Math proficiency: 55% ▼ -16.00%
• Reading proficiency: 66% ▲ 3.00%
• Median HH income: $74,981
• Composite: 53.84/100
• National rank: #1409
• State rank: #199 of 590 in NY

Livability — Fairport

• Score: 74/100
• State rank: #301
• US rank: #4847

Category grades

Amenities B+ Commute F Cost of living C+ Crime C+ Employment B+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 674,131 people
• City population: 42,750
• Metro: Rochester, NY
• Population (ZIP): 42,750
• Household income: $109,466
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 843.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 759,460 people
• By 2030: 757,154 · -0.3%
• By 2040: 740,644 · -2.5%
• By 2050: 714,443 · -5.9%
• By 2075: 645,883 · -15.0%
• By 2100: 547,084 · -28.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 3% Asian 2% Black 2%
• Common ancestry: Romanian 6% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Monroe

• 2024 margin: D (+19.1) · D 59.5% · R 40.5%
• 2008→2024 swing: +1.4pp toward D · 2008: 17.7pp · 2024: 19.1pp
• All cycles: 2024: D+19.1 2020: D+21.0 2016: D+14.1 2012: D+17.4 2008: D+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -189.56%
• Current HPI: 270.7329
• Rent YoY: ▼ -0.84%
• Metro: Rochester, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-06-10 Listed $149,900 UNYREIS