734 Bishop St · Olean, NY 14760

$105,000

3 bd · 1.5 ba · 1,232 sqft · SingleFamily public records · 103 Days on market

Built 1885 6,500 sqft lot Est $144k · 27% 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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 1.5 bath with attached garage.

Key facts

• Fully renovated
• Living room
• Brand-new roof

Tags

• FULLY RENOVATED
• BRAND-NEW ROOF
• KITCHEN DINING ROOM
• LIVING ROOM
• HALF BATHROOM
• LAUNDRY HOOKUPS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 8.0% in Olean — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 72/100 on livability (#353 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Olean City School District (town): math 40% / reading 43% proficiency, ranked #511 of 590 in NY (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 141 active listings in the ZIP; 128 units permitted in Cattaraugus County in 2024 (21 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cattaraugus County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $25k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $105k implies a 1041% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
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. 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.
9. 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.
10. 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: 1.25% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.80%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $144,144
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
832 Garden Ave	0.14mi	4/1.0 (+1)	1,260 (+2%)	9mo	$77,000	$61	75
644 Garden Ave	0.22mi	3/1.5	1,276 (+4%)	22mo	$90,000	$71	66
526 Queen St	0.29mi	2/1.0 (-1)	1,176 (-4%)	15mo	$138,000	$117	59
834 Prospect Ave	0.51mi	3/2.0	1,323 (+7%)	9mo	$269,900	$204	55
318 King St	0.23mi	3/1.5	1,416 (+15%)	13mo	$105,000	$74	54
1218 Seneca Ave	0.49mi	3/1.0	1,152 (-6%)	13mo	$155,500	$135	54
532 N Clark St	0.59mi	3/1.0	1,288 (+4%)	18mo	$160,000	$124	48
330-38 Paragon Ave	0.74mi	3/1.0	1,296 (+5%)	12mo	$35,000	$27	45
407 N Clark St	0.56mi	3/2.0	1,404 (+14%)	9mo	$167,000	$119	41
105 Fulton St	0.60mi	2/1.0 (-1)	1,084 (-12%)	14mo	$115,000	$106	34

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-530
• Equity at exit: $15,656

10-year hold

• IRR: 9.2%
• Equity multiple: 1.71×
• Total profit: $20,915
• Equity at exit: $9,078

Cash invested: $29,400 (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 14760

• Home prices YoY: -7.7%
• Active inventory: 141
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$132 /mo · $1,585/yr
• Insurance: −$44
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $258

Break-even live

Break-even rent $990

Max offer price $105,000

Occupancy floor 75%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-20
   status Pending
2. 2026-03-23
   price $105,000
3. 2026-01-07
   listed $130,000 Active
4. 2019-06-07
   soldstatus $9,200 Closed Sale or Rented 40-char remark

   Show marketing remark (40 chars)

   3 bedroom 1.5 bath with attached garage.

5. 2019-05-03
   status Pending Sale 40-char remark

   Show marketing remark (40 chars)

   3 bedroom 1.5 bath with attached garage.

6. 2019-04-18
   listed $9,900 Active 40-char remark

   Show marketing remark (40 chars)

   3 bedroom 1.5 bath with attached garage.

7. 2017-05-01
   historical
8. 2016-11-02
   listed $36,900 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: $1,585 · $132/mo
• Projected year-2 tax: $1,680 · $140/mo
• Expected delta: +$95/yr (+$8/mo · 6.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,796
• − Mortgage interest: −$5,882
• − Property taxes: −$1,585
• − Insurance: −$1,192
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$3,055
• Taxable income: $1,557
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $2,722/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: Olean City School District
• NCES district ID: 3621720
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $40,365
• Composite: 34.81/100
• National rank: #5104
• State rank: #511 of 590 in NY

Livability — Olean

• Score: 72/100
• State rank: #353
• US rank: #5930

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olean, NY
• City population: 95
• Population (ZIP): 17,272

Population outlook (Cattaraugus County) Hauer SSP2

• Today (2025): 71,623 people
• By 2030: 67,751 · -5.4%
• By 2040: 59,488 · -16.9%
• By 2050: 51,601 · -28.0%
• By 2075: 35,025 · -51.1%
• By 2100: 21,243 · -70.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 2% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1%

Political lean MEDSL · Cattaraugus

• 2024 margin: Solid R (+32.8) · D 33.6% · R 66.4%
• 2008→2024 swing: -22.2pp toward R · 2008: -10.6pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.5 2016: R+34.4 2012: R+13.4 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.85%
• Current HPI: 237.327
• 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

+184.6% since first listed

8 events — show timeline

• 2026-04-20 Pending — WNYREIS
• 2026-03-23 Price Changed $105,000 WNYREIS
• 2026-01-07 Listed $130,000 WNYREIS
• 2019-06-07 Sold (MLS) $9,200 WNYREIS
• 2019-05-03 Pending — WNYREIS
• 2019-04-18 Listed $9,900 WNYREIS
• 2017-05-01 Listing Removed — WNYREIS
• 2016-11-02 Listed $36,900 WNYREIS

Property tax history

+9.1%/yr

Latest (2025): $1,585 · -38.9% YoY. Source: county tax records.