Minimalist: That $5 is referring to a full on latte / mocha type drink, not drip coffee.
That said, a made at home espresso drink is far less expensive that buying at Starbucks or your local shop, although still far more expensive than straight drip from home.
By the numbers. Assumes coffee at $10 / lb, milk at $4 / gallon (3.1 cents / ounce) and Toranni syrup at $8 per 750ml bottle.
Coffee usage is 9 grams / shot - that's 20 cents of coffee per shot of espresso.
1 ounce of syrup is just shy of 32 cents, 1 1/4 ounces is just shy of 40 cents, 1 1/2 ounces is a bit over 47 cents.
Assume 1, 1 1/4 and 1 1/2 ounces of syrup respectively below and milk not stretched (e.g. foamed) excessively.
Rough costs of home made espresso drinks:
12 ounce vanilla latte, double shot is about: 96 cents.
16 ounce vanilla latte, double shot is about $1.18
20 ounce vanilla latte, double shot is about $1.39