5450 Francis Shrs · Honeoye, NY 14471

$335,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 74 Days on market

Built 1978 1.10 ac lot $291/sqft · 8% below area $13/mo HOA · 1% of rent ↓ 4% since listing

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

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.9/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

This year round home is a rare find on Honeoye Lake! Imagine starting your mornings on the lake, watching the sunrise slowly brighten around you. This home sits on just over an acre, boasting a peaceful space and plenty of room to grow! New Trex welcoming stairs and a Trex Deck guide you into the kitchen and dining room-spaces that feel ready for shared meals, conversations, and the easy rhythm of everyday life. The Ranch layout includes three comfortable bedrooms with generous closets and a full bathroom that serves as a convenient laundry area. The living room opens to a beautiful lake view, the kind that naturally draws you in and becomes part of your daily backdrop. Whether it's morning light or evening reflections, the water brings a sense of calm to the entire home. Downstairs, the partially finished basement has the potential for an in-law suite, with two additional bedrooms, a full bath, and a kitchen with a stove an refrigerator. There's even room for a small dinette, making the space feel comfortable and self sufficient for guests or extended family. Outside the 3 bay garage provides 720 sq feet of parking storage, and workspace, enhanced by two new garage door openers and a new side entrance door. Behind it, an 11.8" x 24.5" "lean-to" has a perfect spot for lawn equipment, tools, or lake-day gear. The sq. footage of the home is 2304, different from Realist per the Appraiser who was recently there. This is a home where the lake becomes part of your daily rhythm, where the property is generous and welcoming, and every space invites you to slow down and enjoy the setting. Honeoye provides many places to launch your boat. You'll find many parks for recreation, ski slopes, restaurants, and local shops nearby. Lake living at it's best! Francis Shores has a $150.00 HOA Fee per year. Open House on Arpil 25th from 1-3 PM

Key facts

• In-law suite
• 3 bay garage
• Lake view

Tags

• LAKE VIEW
• TREX DECK
• IN-LAW SUITE
• 3 BAY GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (65.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (64.3% below list).
• Recommended offer: $115k (65.7% below list) — sets the bar for cash-flow.
• Cap rate 1.8% vs local median 0.8% in Honeoye — 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 63/100 on livability (#790 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+, cost of living B+; Watch: crime F, amenities F, commute F.
• Honeoye Central School District (rural): math 43% / reading 63% proficiency, ranked #327 of 590 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Honeoye Elementary School (math 37% / reading 62%, grade D, #1,085 of 2,108 statewide, top 56%, 247 students, 37% FRL); Honeoye Middle/High School (math 47% / reading 67%, grade C, #887 of 1,100 statewide, top 82%, 309 students, 36% FRL).
• Market conditions: 28 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).

Forward outlook

• In year one you build about $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($315k) is reasonable based on typical stale-listing flexibility.

Recommended offer $114,823 (65.7% 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. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 66% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.36% ✗
• Cap rate: 1.83%
• Cash-on-cash: -15.95%
• DSCR: 0.29
• GRM: 23.3

CMA / ARV

• ARV (median comp): $730,000
• List price: $335,000
• Delta: -54.11%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5494 Francis Shrs	0.17mi	3/1.0	1,179 (+2%)	6mo	$300,000	$254	83
5479 Francis Shrs	0.13mi	3/2.0	1,104 (-4%)	5mo	$550,000	$498	78
5541 Walt Dr	0.25mi	3/1.0	986 (-14%)	2mo	$125,000	$127	63

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 2.10×
• Total profit: $103,010
• Equity at exit: $301,795

10-year hold

• IRR: 13.5%
• Equity multiple: 4.90×
• Total profit: $365,659
• Equity at exit: $650,831

Cash invested: $93,800 (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 14471

• Home prices YoY: 8.0%
• Active inventory: 28
• Price-to-rent: 23.3×

Monthly cashflow live

• Estimated rent: $1,197 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$283 /mo · $3,394/yr
• Insurance: −$140
• HOA: −$13
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-1,246

Break-even live

Break-even rent $2,775

Max offer price $114,823

Occupancy floor —

Sensitivity live

Price	-10% $-1,057	-5% $-1,152	+0% $-1,246	+5% $-1,341	+10% $-1,436
Rent	-10% $-1,341	-5% $-1,294	+0% $-1,246	+5% $-1,199	+10% $-1,152
Rate	-1.0pp $-1,078	-0.5pp $-1,161	base $-1,246	+0.5pp $-1,333	+1.0pp $-1,421

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: water

Listing history 17 events

1. 2026-06-22
   days on market $335,000 Active 74 DOM
2. 2026-06-18
   days on market $335,000 Active 71 DOM
3. 2026-06-17
   days on market $335,000 Active 70 DOM
4. 2026-06-16
   days on market $335,000 Active 69 DOM
5. 2026-06-15
   days on market $335,000 Active 68 DOM
6. 2026-06-13
   pricedays on market $335,000 Active 66 DOM
7. 2026-06-10
   days on market $350,000 Active 63 DOM
8. 2026-06-09
   days on market $350,000 Active 62 DOM
9. 2026-06-09
   days on market $350,000 Active 61 DOM
10. 2026-06-07
    days on market $350,000 Active 60 DOM
11. 2026-06-05
    days on market $350,000 Active 57 DOM
12. 2026-06-03
    days on market $350,000 Active 56 DOM
13. 2026-06-03
    days on market $350,000 Active 55 DOM
14. 2026-06-01
    days on market $350,000 Active 54 DOM
15. 2026-05-31
    days on market $350,000 Active 53 DOM
16. 2026-05-18
    price $350,000 1875-char remark

    Show marketing remark (1875 chars)

    This year round home is a rare find on Honeoye Lake! Imagine starting your mornings on the lake, watching the sunrise slowly brighten around you. This home sits on just over an acre, boasting a peaceful space and plenty of room to grow! New Trex welcoming stairs and a Trex Deck guide you into the kitchen and dining room-spaces that feel ready for shared meals, conversations, and the easy rhythm of everyday life. The Ranch layout includes three comfortable bedrooms with generous closets and a full bathroom that serves as a convenient laundry area. The living room opens to a beautiful lake view, the kind that naturally draws you in and becomes part of your daily backdrop. Whether it's morning light or evening reflections, the water brings a sense of calm to the entire home. Downstairs, the partially finished basement has the potential for an in-law suite, with two additional bedrooms, a full bath, and a kitchen with a stove an refrigerator. There's even room for a small dinette, making the space feel comfortable and self sufficient for guests or extended family. Outside the 3 bay garage provides 720 sq feet of parking storage, and workspace, enhanced by two new garage door openers and a new side entrance door. Behind it, an 11.8" x 24.5" "lean-to" has a perfect spot for lawn equipment, tools, or lake-day gear. The sq. footage of the home is 2304, different from Realist per the Appraiser who was recently there. This is a home where the lake becomes part of your daily rhythm, where the property is generous and welcoming, and every space invites you to slow down and enjoy the setting. Honeoye provides many places to launch your boat. You'll find many parks for recreation, ski slopes, restaurants, and local shops nearby. Lake living at it's best! Francis Shores has a $150.00 HOA Fee per year. Open House on Arpil 25th from 1-3 PM

17. 2026-04-08
    listed $364,999 Active 1875-char remark

    Show marketing remark (1875 chars)

    This year round home is a rare find on Honeoye Lake! Imagine starting your mornings on the lake, watching the sunrise slowly brighten around you. This home sits on just over an acre, boasting a peaceful space and plenty of room to grow! New Trex welcoming stairs and a Trex Deck guide you into the kitchen and dining room-spaces that feel ready for shared meals, conversations, and the easy rhythm of everyday life. The Ranch layout includes three comfortable bedrooms with generous closets and a full bathroom that serves as a convenient laundry area. The living room opens to a beautiful lake view, the kind that naturally draws you in and becomes part of your daily backdrop. Whether it's morning light or evening reflections, the water brings a sense of calm to the entire home. Downstairs, the partially finished basement has the potential for an in-law suite, with two additional bedrooms, a full bath, and a kitchen with a stove an refrigerator. There's even room for a small dinette, making the space feel comfortable and self sufficient for guests or extended family. Outside the 3 bay garage provides 720 sq feet of parking storage, and workspace, enhanced by two new garage door openers and a new side entrance door. Behind it, an 11.8" x 24.5" "lean-to" has a perfect spot for lawn equipment, tools, or lake-day gear. The sq. footage of the home is 2304, different from Realist per the Appraiser who was recently there. This is a home where the lake becomes part of your daily rhythm, where the property is generous and welcoming, and every space invites you to slow down and enjoy the setting. Honeoye provides many places to launch your boat. You'll find many parks for recreation, ski slopes, restaurants, and local shops nearby. Lake living at it's best! Francis Shores has a $150.00 HOA Fee per year. Open House on Arpil 25th from 1-3 PM

ⓘ 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: $3,394 · $283/mo
• Projected year-2 tax: $4,528 · $377/mo
• Expected delta: +$1,134/yr (+$94/mo · 33.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,366
• − Mortgage interest: −$18,765
• − Property taxes: −$3,394
• − Insurance: −$1,675
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − HOA: −$156
• − Depreciation: −$9,745
• Taxable loss: −$21,668
• Est. tax savings @ 24.0%: +$5,200
• After-tax cash flow: $-9,756/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: Honeoye Central School District
• NCES district ID: 3614670
• Math proficiency: 43% ▼ -11.00%
• Reading proficiency: 63% ▲ 19.00%
• Median HH income: $58,638
• Composite: 46.02/100
• National rank: #2531
• State rank: #327 of 590 in NY

Livability — Honeoye

• Score: 63/100
• State rank: #790
• US rank: #15128

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,792

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Iranian 3% Romanian 3%
• Foreign-born: 8% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.94%
• Current HPI: 350.2695
• Rent YoY: —
• Metro: —
• 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

-4.1% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $350,000 UNYREIS
• 2026-04-08 Listed $364,999 UNYREIS

Property tax history

+6.3%/yr

Latest (2025): $3,394 · +1.6% YoY. Source: county tax records.