40 Harper Dr · Pittsford, NY 14534

$299,900

4 bd · 2.5 ba · 1,986 sqft · SingleFamily public records · 9 Days on market

Built 1964 0.37 ac lot Est $461k · 35% under

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Why this score? — see what drove the B- 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 +21.3/30.0
• ARV discount +15.0/15.0
• Schools +7.5/10.0
• 1% rule +7.3/10.0
• DSCR +6.8/10.0
• Livability +4.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 40 Harper Drive. Through your double entry doors enjoy the gleaming hardwoods. To your left is a spacious living room with bay windows and parquet under the carpets. Enjoy a large eat in kitchen with plenty of cabinets and all appliances included. The kitchen opens up to the family room with wood burning fireplace and parquet floors. Completing the 1st floor is a formal dining room with another set of bay windows and hardwoods under the carpet as well as a powder room. Upstairs enjoy 4 bedrooms all with hardwood floors including a spacious primary bedroom complete with a large walk in closet and en suite full bath. The basement includes a large finished portion with built in book

Key facts

• Eat in kitchen
• Finished basement
• Permanent generator

Tags

• HARDWOOD FLOORS
• EAT IN KITCHEN
• WOOD BURNING FIREPLACE
• FINISHED BASEMENT
• FULLY FENCED BACKYARD
• PERMANENT GENERATOR

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Utilities: Public water connected; Sewer connected; Electric with circuit breakers
• Home design: Two-story residence; Resale property; City street frontage
• Construction: Brick and composite siding construction; Asphalt roof; Block foundation; Copper plumbing
• Exterior features: Blacktop driveway; Patio; Shed(s) / exterior storage

Interior

• Kitchen: Electric oven and electric range; Dishwasher; Refrigerator; Eat-in kitchen
• Flooring: Hardwood; Carpet; Varies
• Bathrooms: 2 full bathrooms; 2 half bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air gas heating
• Interior features: Drapes and window treatments; Sliding doors / sliding glass door(s); Wet bar; Separate formal dining room; Separate formal living room; Eat-in kitchen
• Laundry & utility: Washer and dryer included; Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 8.1% vs local median 2.6% in Pittsford — 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 94/100 on livability (#1 in NY, #10 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: cost of living D.
• 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.
• Market conditions: 188 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 31% of the median local income ($144k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.

Recommended offer $299,900

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $460,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 Stuyvesant Rd	0.26mi	4/2.0	1,896 (-4%)	1mo	$440,000	$232	77
67 Stuyvesant Rd	0.11mi	4/2.5	1,825 (-8%)	10mo	$532,210	$292	73
39 Wind Mill Rd	0.14mi	5/2.5 (+1)	2,176 (+10%)	2mo	$516,000	$237	71
15 Stuyvesant Rd	0.40mi	4/1.5	1,932 (-3%)	6mo	$340,000	$176	68
25 Saxony Rd	0.31mi	4/2.0	1,844 (-7%)	5mo	$352,000	$191	67
16 Buchanan Rd	0.08mi	4/3.0	2,212 (+11%)	10mo	$450,000	$203	67
20 Round Trail Dr	0.35mi	4/2.0	1,872 (-6%)	7mo	$375,000	$200	66
39 Knickerbocker Rd	0.61mi	4/2.5	1,996 (+0%)	9mo	$451,000	$226	63
42 Bromley Rd	0.59mi	4/2.5	2,126 (+7%)	2mo	$655,000	$308	59
47 Round Trail Dr	0.24mi	4/2.5	2,249 (+13%)	10mo	$350,000	$156	58
11 Laureldale Dr Dr	0.67mi	4/2.5	1,724 (-13%)	10mo	$438,000	$254	38
10 Cranston Rd	0.64mi	5/2.5 (+1)	2,258 (+14%)	7mo	$755,000	$334	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-20,221
• Equity at exit: $44,716

10-year hold

• IRR: 3.2%
• Equity multiple: 1.24×
• Total profit: $19,787
• Equity at exit: $25,930

Cash invested: $83,972 (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 14534

• Active inventory: 188
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,701 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$786 /mo · $9,429/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $441

Break-even live

Break-even rent $3,144

Max offer price $299,900

Occupancy floor 83%

Sensitivity live

Price	-10% $610	-5% $526	+0% $441	+5% $356	+10% $271
Rent	-10% $148	-5% $294	+0% $441	+5% $587	+10% $733
Rate	-1.0pp $592	-0.5pp $517	base $441	+0.5pp $363	+1.0pp $284

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Stuyvesant Rd Pittsford, NY	5.0	2.5	2374	$4,500	$1.90	45d	1	0.49mi
6 Cullens Run Pittsford, NY	4.0	2.0	1300	$3,000	$2.31	45d	1	1.23mi
23 Musket Ln Unit NA Pittsford, NY	4.0	2.5	2058	$2,900	$1.41	24d	1	1.29mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $299,900 Pending 9 DOM
2. 2026-06-10
   days on market $299,900 Active 7 DOM
3. 2026-06-09
   days on market $299,900 Active 6 DOM
4. 2026-06-09
   days on market $299,900 Active 5 DOM
5. 2026-06-07
   remarks 699-char remark
6. 2026-06-07
   listed $299,900 Active 4 DOM

ⓘ 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: $9,429 · $786/mo
• Projected year-2 tax: $9,429 · $786/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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,417
• − Mortgage interest: −$16,799
• − Property taxes: −$9,429
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,553
• − Management: −$3,553
• − Depreciation: −$8,724
• Taxable income: $858
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $5,082/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: Pittsford Central School District
• NCES district ID: 3623160
• Math proficiency: 80% ▼ -4.00%
• Reading proficiency: 84% ▲ 7.00%
• Median HH income: $106,940
• Composite: 74.75/100
• National rank: #151
• State rank: #34 of 590 in NY

Livability — Pittsford

• Score: 94/100
• State rank: #1
• US rank: #10

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 674,131 people
• City population: 33,230
• Metro: Rochester, NY
• Population (ZIP): 33,230
• Household income: $143,694
• Rent vs Own: 9.6% rent · 90.4% own
• Severe rent burden: 398.0

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 (81%)
• Race & ethnicity: White 81% Asian 8% Two or more races 6% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 5% Italian 4% Lithuanian 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 3% Chinese 2% Spanish 2%

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: ▼ -232.40%
• Current HPI: 258.0726
• Rent YoY: —
• 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

• 2026-06-03 Listed $299,900 UNYREIS

Property tax history

+2.5%/yr

Latest (2025): $9,429 · +12.2% YoY. Source: county tax records.