15 Matthew Dr · Fairport, NY 14450

$289,900

3 bd · 1.5 ba · 1,656 sqft · SingleFamily public records · 8 Days on market

Built 1962 0.40 ac lot Est $338k · 14% under

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Why this score? — see what drove the D 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).

• ARV discount +13.9/15.0
• Cash flow +7.7/30.0
• Schools +5.4/10.0
• Livability +3.7/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Fabulous Fairport home for sale, with an INCREDIBLE LOCATION! Walking distance to the Canal Path, which takes you right into the picturesque Village of Fairport! Walking distance to Fairport High School and many trails and parks! A short walk to Center Park, to enjoy free activities and concerts provided by the Perinton Rec Center all summer. Less than 10-minute drive to Wegmans, Aldi’s, Restaurants, shopping and so much more! This beloved home was owned by the same family for 35 years and the pride of ownership shines throughout! In 2025 the entry level living and dining room hardwood floors were refinished, toilets and storm doors replaced, as well as fresh paint in much of the home

Key facts

• 0.4 acre lot
• Garage
• Built 1962

Property features AI

Exterior

• Parking: Attached garage (1 car); Electric vehicle charging station
• Utilities: High-speed internet available; Public water connected; Sewer connected; Circuit breaker electrical
• Home design: Single-story home; Existing construction
• Construction: Wood siding; Copper plumbing; Asphalt roof; Block foundation; Resale property
• Exterior features: Blacktop driveway; Fully fenced yard; Open patio and porch; Patio; Porch; Shed(s) and storage; TV antenna; Full fencing

Interior

• Kitchen: Electric oven and electric range; Microwave; Dishwasher; Refrigerator; Pantry
• Bedrooms: Total of 6 rooms including living and recreation areas; Laundry room located in basement
• Flooring: Hardwood; Ceramic tile; Tile; Varies
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Separate formal dining room and separate formal living room; Pantry; Programmable thermostat; See remarks
• Laundry & utility: Washer and dryer included; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-339 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (19.6% below list).
• Recommended offer: $230k (20.6% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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); 188 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $9k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $230,077 (20.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.01%
• DSCR: 0.78
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $337,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Matthew Dr	0.00mi	4/1.5 (+1)	1,656 (0%)	1mo	$395,000	$239	94
10 Matthew Dr	0.06mi	3/1.5	1,640 (-1%)	8mo	$335,000	$204	90
1604 Ayrault Rd	0.16mi	4/1.5 (+1)	1,680 (+1%)	12mo	$253,000	$151	75
18 Delemere Blvd	0.35mi	4/1.5 (+1)	1,632 (-1%)	6mo	$302,600	$185	72
32 Otterden Ln	0.21mi	4/1.5 (+1)	1,632 (-1%)	15mo	$356,000	$218	70
20 Delemere Blvd	0.36mi	4/1.5 (+1)	1,632 (-1%)	10mo	$312,000	$191	68
18 Wheatfield Cir	0.38mi	3/2.0	1,536 (-7%)	2mo	$450,000	$293	66
329 Lyndon Rd	0.18mi	4/2.5 (+1)	1,776 (+7%)	8mo	$295,000	$166	64
24 Otterden Ln	0.20mi	3/1.5	1,440 (-13%)	12mo	$330,000	$229	59
9 Aconbury Dr	0.24mi	3/2.0	1,440 (-13%)	9mo	$294,249	$204	58
4 Otterden Ln	0.23mi	3/1.5	1,440 (-13%)	12mo	$308,000	$214	57
61 Wheatfield Cir	0.47mi	4/2.5 (+1)	1,728 (+4%)	18mo	$285,000	$165	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -28.5%
• Equity multiple: 0.07×
• Total profit: $-75,231
• Equity at exit: $43,225

10-year hold

• IRR: -47.6%
• Equity multiple: -0.47×
• Total profit: $-119,095
• Equity at exit: $25,065

Cash invested: $81,172 (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: 188
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,331 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$539 /mo · $6,465/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $-339

Break-even live

Break-even rent $2,759

Max offer price $230,077

Occupancy floor —

Sensitivity live

Price	-10% $-175	-5% $-257	+0% $-339	+5% $-421	+10% $-503
Rent	-10% $-523	-5% $-431	+0% $-339	+5% $-247	+10% $-155
Rate	-1.0pp $-193	-0.5pp $-265	base $-339	+0.5pp $-414	+1.0pp $-490

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Ranney Dr Fairport, NY	2.0	2.0	1133	$2,375	$2.10	4d	1	1.19mi

Listing history 2 events

1. 2026-04-15
   status Pending
2. 2026-04-07
   listed $289,900 Active

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $6,465 · $539/mo
• Projected year-2 tax: $6,465 · $539/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥96°F today · 16 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: $27,967
• − Mortgage interest: −$16,239
• − Property taxes: −$6,465
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,237
• − Management: −$2,237
• − Depreciation: −$8,433
• Taxable loss: −$9,095
• Est. tax savings @ 24.0%: +$2,183
• After-tax cash flow: $-1,881/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.

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

2 events — show timeline

• 2026-04-15 Pending — UNYREIS
• 2026-04-07 Listed $289,900 UNYREIS

Property tax history

+4.5%/yr

Latest (2025): $6,465 · +30.9% YoY. Source: county tax records.