314 Main St · Olean, NY 14760

$49,900

3 bd · 1.5 ba · 1,188 sqft · SingleFamily public records · 32 Days on market

Built 1891 3,680 sqft lot Est $94k · 47% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Conveniently located home in walking distance to store, restaurants, mall and downtown. Many recent updates. Priced to sell and much cheaper than renting a similar single family dwelling!

Key facts

• 3,680 sq ft lot
• Built 1891
• Listed 32 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 8.1% in Olean — 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 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.
• Zoned schools: East View Elementary School (math 44% / reading 54%, grade D, #1,085 of 2,108 statewide, top 56%, 337 students, 49% FRL); Olean Intermediate-Middle School (math 23% / reading 36%, 564 students, 58% FRL); Olean Senior High School (math 77% / reading 67%, grade B+, #677 of 1,100 statewide, top 63%, 659 students, 49% FRL).
• Market conditions: 143 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 $345 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1891 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.60% ✓
• Cap rate: 21.47%
• Cash-on-cash: 54.21%
• DSCR: 3.41
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $93,852
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 3rd Ave	0.24mi	3/1.5	1,172 (-1%)	22mo	$56,000	$48	68
714 Front St	0.21mi	3/1.0	1,056 (-11%)	3mo	$112,000	$106	67
314 Van Campen Ave	0.30mi	3/2.0	1,213 (+2%)	18mo	$96,000	$79	65
1014 N Union St	0.49mi	2/1.0 (-1)	1,224 (+3%)	3mo	$30,000	$25	63
330-38 Paragon Ave	0.25mi	3/1.0	1,296 (+9%)	12mo	$35,000	$27	61
213 Madison Ave	0.64mi	2/1.0 (-1)	1,178 (-1%)	14mo	$120,000	$102	49
269 Hamilton Ave	0.53mi	3/1.0	1,128 (-5%)	19mo	$107,000	$95	49
817 N 4th St	0.44mi	3/2.0	1,044 (-12%)	16mo	$59,900	$57	44
118 W Oak St	0.67mi	2/1.5 (-1)	1,122 (-6%)	18mo	$122,000	$109	40
105 Fulton St	0.71mi	2/1.0 (-1)	1,084 (-9%)	14mo	$115,000	$106	34
509 N 8th St	0.66mi	2/1.0 (-1)	1,035 (-13%)	19mo	$68,000	$66	24

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: 52.4%
• Equity multiple: 3.30×
• Total profit: $32,161
• Equity at exit: $7,440

10-year hold

• IRR: 57.7%
• Equity multiple: 6.72×
• Total profit: $79,963
• Equity at exit: $4,314

Cash invested: $13,972 (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 14760

• Home prices YoY: -7.7%
• Active inventory: 143
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,295 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$110 /mo · $1,314/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $631

Break-even live

Break-even rent $496

Max offer price $49,900

Occupancy floor 46%

Sensitivity live

Price	-10% $659	-5% $645	+0% $631	+5% $617	+10% $603
Rent	-10% $529	-5% $580	+0% $631	+5% $682	+10% $733
Rate	-1.0pp $656	-0.5pp $644	base $631	+0.5pp $618	+1.0pp $605

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2023-12-27
   status Pending
2. 2022-08-05
   soldstatus $50,000
3. 2022-06-20
   status Pending Sale
4. 2022-05-19
   listed $49,900 Active
5. 2020-03-17
   historical
6. 2019-11-18
   listed $39,900 Active
7. 2015-04-07
   listed $800
8. 2014-01-28
   listed $46,900
9. 2013-07-18
   listed $39,900
10. 2008-07-18
    soldstatus $34,000

ⓘ 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: $1,314 · $110/mo
• Projected year-2 tax: $1,314 · $110/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 18 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: $15,541
• − Mortgage interest: −$2,795
• − Property taxes: −$1,314
• − Insurance: −$250
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$1,452
• Taxable income: $7,244
• Est. tax owed @ 24.0%: −$1,739
• After-tax cash flow: $5,835/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: 17,272
• 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

+47.1% since first listed

10 events — show timeline

• 2023-12-27 Pending — WNYREIS
• 2022-08-05 Sold (Public Records) $50,000 Public Records
• 2022-06-20 Pending — WNYREIS
• 2022-05-19 Listed $49,900 WNYREIS
• 2020-03-17 Listing Removed — WNYREIS
• 2019-11-18 Listed $39,900 WNYREIS
• 2015-04-07 Listed $800 WNYREIS
• 2014-01-28 Listed $46,900 WNYREIS
• 2013-07-18 Listed $39,900 WNYREIS
• 2008-07-18 Sold (Public Records) $34,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,314 · -38.9% YoY. Source: county tax records.