204 N 4th St · Olean, NY 14760

$139,900

3 bd · 1.5 ba · 2,121 sqft · SingleFamily public records · 9 Days on market

Built 1925 2,678 sqft lot Est $151k · 7% under

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Why this score? — see what drove the D+ 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 +16.2/30.0
• ARV discount +10.7/15.0
• DSCR +5.0/10.0
• 1% rule +4.8/10.0
• 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

Key facts

• 2,678 sq ft lot
• Garage
• Built 1925

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water available; Sewer connected; Sewer connected (listed separately)
• Home design: Two-story frame house; Existing construction; Resale property
• Construction: Block foundation
• Exterior features: Concrete driveway; Rectangular residential lot; City street frontage

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Total rooms: 7 (includes living areas and den)
• Flooring: Hardwood; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas heating; Hot water heating
• Interior features: Den; Separate/formal dining room; Separate/formal living room; Full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $73 ($878/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (2.3% below list).
• Recommended offer: $137k (2.3% below list) — sets the bar for 1% rule.

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 $967 of loan paydown is wiped out by about $4k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,618 (2.3% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $150,591
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 N 2nd St	0.13mi	4/1.5 (+1)	2,238 (+6%)	15mo	$220,000	$98	67
136 N 10th St	0.36mi	4/2.0 (+1)	2,156 (+2%)	10mo	$152,000	$71	65
402 N 8th St	0.35mi	3/1.5	2,080 (-2%)	22mo	$119,900	$58	62
417 W Sullivan St	0.10mi	3/1.5	1,833 (-14%)	14mo	$156,500	$85	61
915 Washington St	0.29mi	4/1.5 (+1)	2,360 (+11%)	3mo	$199,900	$85	60
121 S 10th St	0.44mi	4/2.0 (+1)	1,988 (-6%)	7mo	$165,000	$83	56
215 South Second St	0.37mi	4/2.0 (+1)	1,880 (-11%)	4mo	$32,500	$17	54
142 S 1st St	0.33mi	4/1.5 (+1)	2,408 (+14%)	6mo	$75,000	$31	52
207 N Clinton St	0.41mi	3/1.5	1,816 (-14%)	6mo	$117,500	$65	52
315 South 4th St	0.42mi	4/1.0 (+1)	2,160 (+2%)	23mo	$118,720	$55	51
1506 Washington St	0.65mi	3/2.0	1,833 (-14%)	16mo	$170,000	$93	31
1501 Washington St	0.63mi	4/1.0 (+1)	1,820 (-14%)	22mo	$85,000	$47	21

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: -12.7%
• Equity multiple: 0.54×
• Total profit: $-17,965
• Equity at exit: $20,860

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-9,461
• Equity at exit: $12,096

Cash invested: $39,172 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,366 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$214 /mo · $2,570/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $73

Break-even live

Break-even rent $1,274

Max offer price $139,900

Occupancy floor 90%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-07
   statusdays on market $139,900 Pending 9 DOM
2. 2026-06-04
   days on market $139,900 Active 6 DOM
3. 2026-06-02
   days on market $139,900 Active 5 DOM
4. 2026-06-01
   days on market $139,900 Active 4 DOM
5. 2026-05-31
   days on market $139,900 Active 3 DOM
6. 2026-05-28
   listed $139,900 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: $2,570 · $214/mo
• Projected year-2 tax: $2,570 · $214/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 4/10 Moderate
• 🌡 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: $16,394
• − Mortgage interest: −$7,837
• − Property taxes: −$2,570
• − Insurance: −$700
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$4,070
• Taxable loss: −$1,405
• Est. tax savings @ 24.0%: +$337
• After-tax cash flow: $1,215/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

• 2026-05-28 Listed $139,900 UNYREIS

Property tax history

+3.0%/yr

Latest (2025): $2,570 · -38.9% YoY. Source: county tax records.