536 King St · Olean, NY 14760

$64,900

4 bd · 1.5 ba · 2,004 sqft · SingleFamily public records · 31 Days on market

Built 1880 0.83 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Opportunity with endless potential! Situated on a rare . 83-acre city lot, this 4-bedroom, 1.5-bath home offers a generously sized lot along with a detached 2-car garage. Full of character and charm, the property features a wraparound porch, metal roof, and spacious layout ready for new life and vision. The home does require structural repairs and is being sold AS-IS with no guarantees regarding repair-ability. Priced with condition in mind, this property may be best suited for cash only. A restoration project with strong upside potential - A great opportunity!

Key facts

• Metal roof
• Wraparound porch
• Rare city lot

Tags

• RARE CITY LOT
• WRAPAROUND PORCH
• METAL ROOF
• SPACIOUS LAYOUT

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: Two-story house; Existing (previously built) property
• Construction: Composite siding; Metal roof; Stone foundation; Has a basement with dirt floor, partial finish, exterior entry and walk-up access
• Exterior features: Covered porch; Blacktop driveway; Irregular residential lot; City street frontage; Lot dimensions approximately 122 x 235

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Includes a home office and living spaces (total of 9 rooms)
• Flooring: Carpet; Laminate; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Separate/formal living room; Home office
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 8.0% 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.
• 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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1880 — 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: 2.37% ✓
• Cap rate: 18.14%
• Cash-on-cash: 42.33%
• DSCR: 2.88
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $246,492
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
935 Queen St	0.42mi	4/2.5	1,956 (-2%)	2mo	$240,000	$123	71
935 Forness Ave	0.18mi	3/1.5 (-1)	1,920 (-4%)	13mo	$200,000	$104	69
1357 Goodrich Ave	0.41mi	4/2.5	2,067 (+3%)	13mo	$295,000	$143	61
730 King St	0.20mi	3/2.0 (-1)	2,236 (+12%)	11mo	$285,000	$127	55
832 Prospect Ave	0.36mi	3/1.5 (-1)	2,100 (+5%)	21mo	$191,100	$91	52

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: 39.1%
• Equity multiple: 2.67×
• Total profit: $30,405
• Equity at exit: $9,677

10-year hold

• IRR: 45.6%
• Equity multiple: 5.37×
• Total profit: $79,445
• Equity at exit: $5,611

Cash invested: $18,172 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$205 /mo · $2,457/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $641

Break-even live

Break-even rent $724

Max offer price $64,900

Occupancy floor 53%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $64,900 Active 31 DOM
2. 2026-06-17
   days on market $64,900 Active 30 DOM
3. 2026-06-16
   days on market $64,900 Active 29 DOM
4. 2026-06-15
   days on market $64,900 Active 28 DOM
5. 2026-06-13
   days on market $64,900 Active 26 DOM
6. 2026-06-12
   days on market $64,900 Active 25 DOM
7. 2026-06-09
   days on market $64,900 Active 22 DOM
8. 2026-06-08
   days on market $64,900 Active 21 DOM
9. 2026-06-07
   days on market $64,900 Active 20 DOM
10. 2026-06-07
    days on market $64,900 Active 19 DOM
11. 2026-06-04
    days on market $64,900 Active 16 DOM
12. 2026-06-02
    days on market $64,900 Active 15 DOM
13. 2026-06-01
    days on market $64,900 Active 14 DOM
14. 2026-05-31
    days on market $64,900 Active 13 DOM
15. 2026-05-18
    listed $64,900 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: $2,457 · $205/mo
• Projected year-2 tax: $2,457 · $205/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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $18,427
• − Mortgage interest: −$3,635
• − Property taxes: −$2,457
• − Insurance: −$324
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − Depreciation: −$1,888
• Taxable income: $7,174
• Est. tax owed @ 24.0%: −$1,722
• After-tax cash flow: $5,970/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

1 event — show timeline

• 2026-05-18 Listed $64,900 UNYREIS

Property tax history

+16.0%/yr

Latest (2025): $2,457 · -42.7% YoY. Source: county tax records.