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1 Delancey Ct
Score
0
Pittsford, NY

1 Delancey Ct

675K
5 bd • 4 ba • 3,508 sf

This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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0:00 / 0:00
List Price

$674,900

Price/Sq.Ft

$192

Year Built

2005

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This 2005-built colonial in Pittsford offers exceptional value at $192.39/sqft, which is approximately 20% below the average of $240/sqft for similar homes in the area. With 3,508 sqft of living space plus a finished basement, it provides ample room at 25% larger than the typical 2,800 sqft homes in this price range. Recent upgrades add significant value: new roof in 2022 ($15,000-$20,000), new AC in 2024 ($5,000-$7,000), and new washer/dryer in 2022 ($1,500-$2,000). The property's location on a quiet cul-de-sac in the highly-rated Pittsford School District (with schools rated 9-10/10) adds to its desirability. Climate risk scores are exceptionally low (1/10 for flood, fire, and wind), potentially leading to lower insurance premiums. The home has appreciated 64.6% since its last sale in 2018, outperforming the local market average of 45% over the same period.

The Bad

While the property offers great value, the current list price of $674,900 represents a significant 64.6% increase from its 2018 sale price of $410,000. This rapid appreciation may impact affordability for some buyers and could potentially limit future appreciation. The estimated annual insurance cost of $2,429.64 is about 15% higher than the area average of $2,100 for similar homes, likely due to the property's size. Property taxes in Pittsford are known to be high, potentially adding $15,000-$20,000 annually to the cost of ownership. The home's systems, while updated, may require maintenance soon: the water heater from 2016 is approaching its 10-year lifespan, potentially needing replacement within 2-4 years at an estimated cost of $1,000-$1,500.

The Ugly

The rapid price increase since 2018 (64.6%) far outpaces local income growth (typically 2-3% annually), which could indicate a potential market correction or stagnation in the near future. The total monthly ownership costs are high: assuming a 20% down payment and a 30-year mortgage at 6.5% interest, the monthly payment would be around $3,400, plus an estimated $1,500-$1,700 for taxes and insurance, totaling approximately $5,000 per month. This level of expense requires an annual income of at least $200,000 (using a 30% debt-to-income ratio), which is significantly above the local median income of $124,152. The finished basement, while adding living space, is not reflected in the official square footage (tax records show 2,808 sqft), which could complicate future appraisals and resale value calculations.

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Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for upper-middle-class families with household incomes over $200,000 who prioritize space and excellent schools. It suits buyers looking for a move-in ready home with recent updates and low maintenance requirements in the short term. The layout, with a first-floor bedroom and office, makes it perfect for multi-generational families or those needing a home office. Investors could potentially see good returns, as current rental rates for 4-bedroom homes in the area ($2,390/month) suggest a gross rental yield of about 4.2%, which could be higher when factoring in the additional bedroom and finished basement.

Not For

This property is not suitable for first-time homebuyers or those with annual incomes below $200,000 due to the high monthly costs. It's also not ideal for buyers looking for a smaller, low-maintenance property or those seeking significant immediate equity, given the recent price appreciation. Investors looking for high-yield rental properties might find the potential returns (4.2% gross yield) lower than other opportunities in less premium markets.
Demographics
Area Median Income

$124,152

Property History

Price History
Ownership Timeline
$410,000Financed
Oct 22, 2018
Sireesha Rao, Madhavi V RaoRupa Rajiv Patel, Rajiv Lalbhai Patel
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Apr 23, 2018
Raja V Rao, Laxmi V RaoSireesha Rao, Madhavi V Rao
Intrafamily Transfer
Non-Arm's Length Transactions
$392,500Cash Purchase
Sep 5, 2008
Timothy JonesRaja Rao
Deed
Standard Sale (Purchase/Resales)
$376,200Cash Purchase
Sep 9, 2005
Spall Development CorpTimothy Jones
Deed
Non-Residential Arm's Length Transactions

Property Taxes

$0
2023 Tax Assessment
Assessed Value$405,600
Tax Rate0.00%

Sunlight Analysis

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Sunlight Analysis

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Risk Assessment

Climate Risks

airMINIMAL

1 bad air quality days per year

heatMINIMAL

7 extreme heat days per year

98th percentile: 96°F

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

fireMINIMAL

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

Market volatility is a significant risk, given the 64.6% price increase since 2018. This rapid appreciation could lead to a market correction, potentially affecting future resale value. The high property taxes in Pittsford (estimated $15,000-$20,000 annually) are subject to increases, which could impact affordability over time. While climate risks are low, the property's size and value may lead to above-average insurance costs, with potential for increases. The discrepancy between tax record square footage (2,808 sqft) and the listed size (3,508 sqft) could cause appraisal issues in future sales or refinancing. Long-term maintenance costs could be substantial given the home's size and features, with major systems (HVAC, plumbing, electrical) potentially needing attention in the next 10-15 years.
Insurance
Annual Cost

$2,430

$202 per month

Cost & Affordability

Monthly Costs

Breakdown of estimated monthly expenses for this property

Monthly Payment
$0
* Estimated at 1% of home value annually. Actual costs may vary.
Not Included in Estimate
• Utilities (electricity, gas, water, internet)
• Home improvements and upgrades
• Landscaping and yard maintenance
• Pest control and home services
• Emergency repairs and replacements

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$675 monthly
$202 monthly

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Schools

Mendon Center Elementary School

Public•Grades K-5
/5
Elementary
1.7 mi
Get more information on GreatSchools

Calkins Road Middle School

Public•Grades 6-8
10/5
Middle
0.7 mi
Get more information on GreatSchools

Pittsford Sutherland High School

Public•Grades 9-12
9/5
High
2.3 mi
Get more information on GreatSchools

Financials

Monthly Costs
Market Rent (5 bed)

$2,390

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$674,900
Price/sqft
$192
Layout
5 bd•4 ba
Days on market
2 daysat time of analysis

Stats in the Area

Based on 2 comparable properties nearby

Average Price

$652,500

3.4%

Your price is 3.4% above average

Median Price

$830,000

18.7%

Based on 2 recent sales

Price per Sq.Ft

$182

5.7%

Your price is 5.7% above average $/sqft

Comparable Properties

15 Harvest Glen, Pittsford, NY 14534
Price: $830,000
Sq.Ft: 3,908
Beds/Baths: 4/4
$/Sq.Ft:
$21210.4%
Sale Date: 10/21/2024
134 Stone Rd *Private Drive, Henrietta, NY 14534
Price: $475,000
Sq.Ft: 3,132
Beds/Baths: 4/3
$/Sq.Ft:
$15221.2%
Sale Date: 10/8/2024

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