129 Sixth St S · Olean, NY 14760

$159,900

3 bd · 1.0 ba · 1,486 sqft · SingleFamily public records · 4 Days on market

Built 1890 3,185 sqft lot Est $138k · 16% over

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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 +14.7/30.0
• DSCR +4.5/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Completely renovated from top to bottom, this stunning 3-bedroom, 2.5-bath home offers the perfect blend of modern updates and timeless charm. Nearly every major component has been replaced, including a brand-new kitchen with new appliances, updated bathrooms, new flooring throughout, upgraded heating system, plumbing, and electrical, making this home truly move-in ready. The spacious first floor features a large living room that flows seamlessly into the dining room, creating an inviting layout for everyday living and entertaining. The beautifully updated kitchen opens directly to a covered back deck, perfect for relaxing or hosting guests, while a convenient half bath completes the main l

Key facts

• New kitchen
• Covered back deck
• Updated bathrooms

Tags

• NEW KITCHEN
• UPDATED BATHROOMS
• UPGRADED HEATING SYSTEM
• COVERED BACK DECK
• PRIVATE PRIMARY SUITE
• WASHER AND DRYER HOOKUPS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $42 ($507/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 $136k (15.2% below list).
• Recommended offer: $136k (15.2% 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: 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 $1k of loan paydown is wiped out by about $5k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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.
• Current owner paid $30k; list at $160k implies a 433% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,620 (15.2% below list)

Questions for the listing agent

1. Built in 1890 — 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: 0.85% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $138,198
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 S 7th St	0.11mi	2/1.5 (-1)	1,516 (+2%)	5mo	$150,000	$99	80
126 N 8th St	0.23mi	3/1.5	1,552 (+4%)	9mo	$144,000	$93	72
133 N 13th St	0.50mi	3/2.0	1,496 (+1%)	6mo	$149,900	$100	67
216 N 14th St	0.59mi	3/1.5	1,516 (+2%)	3mo	$143,000	$94	65
123 S 4th St	0.13mi	2/1.0 (-1)	1,300 (-12%)	4mo	$90,000	$69	64
309 S 3rd St	0.23mi	3/1.0	1,270 (-14%)	5mo	$10,000	$8	61
1117 W Sullivan St	0.48mi	3/1.5	1,400 (-6%)	6mo	$53,500	$38	61
108 Fulton St	0.58mi	3/2.0	1,560 (+5%)	6mo	$69,900	$45	55
133 N 15th St	0.60mi	3/1.5	1,554 (+5%)	9mo	$180,000	$116	55
334 N 13th St	0.65mi	2/1.0 (-1)	1,392 (-6%)	5mo	$74,500	$54	50
119 W Green St	0.37mi	2/1.0 (-1)	1,278 (-14%)	9mo	$85,000	$67	47
115 N 17th St	0.71mi	4/2.0 (+1)	1,638 (+10%)	9mo	$176,000	$107	33

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-23,246
• Equity at exit: $23,842

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-16,884
• Equity at exit: $13,825

Cash invested: $44,772 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,356 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$124 /mo · $1,488/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $42

Break-even live

Break-even rent $1,303

Max offer price $159,900

Occupancy floor 92%

Sensitivity live

Price	-10% $133	-5% $88	+0% $42	+5% $-3	+10% $-48
Rent	-10% $-65	-5% $-11	+0% $42	+5% $96	+10% $149
Rate	-1.0pp $123	-0.5pp $83	base $42	+0.5pp $1	+1.0pp $-41

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-04-23
   status Pending
2. 2026-04-18
   listed $159,900 Active
3. 2024-12-09
   soldstatus $30,000
4. 2024-12-06
   soldstatus $30,000 Closed
5. 2024-10-15
   status Pending
6. 2024-10-04
   listed $39,900 Active
7. 2024-08-31
   historical
8. 2024-07-15
   price $59,000
9. 2024-07-15
   listed $65,000 Active
10. 2024-03-11
    price $65,000
11. 2024-03-11
    historical
12. 2023-09-20
    listed $70,000 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: $1,488 · $124/mo
• Projected year-2 tax: $2,095 · $175/mo
• Expected delta: +$607/yr (+$51/mo · 40.8%)

ⓘ 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 · 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: $16,274
• − Mortgage interest: −$8,957
• − Property taxes: −$1,488
• − Insurance: −$800
• − Repairs & maintenance: −$1,302
• − Management: −$1,302
• − Depreciation: −$4,652
• Taxable loss: −$2,225
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $1,041/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

+128.4% since first listed

12 events — show timeline

• 2026-04-23 Pending — UNYREIS
• 2026-04-18 Listed $159,900 UNYREIS
• 2024-12-09 Sold (Public Records) $30,000 Public Records
• 2024-12-06 Sold (MLS) $30,000 WNYREIS
• 2024-10-15 Pending — WNYREIS
• 2024-10-04 Listed $39,900 WNYREIS
• 2024-08-31 Listing Removed — WNYREIS
• 2024-07-15 Price Changed $59,000 WNYREIS
• 2024-07-15 Listed $65,000 WNYREIS
• 2024-03-11 Price Changed $65,000 WNYREIS
• 2024-03-11 Listing Removed — WNYREIS
• 2023-09-20 Listed $70,000 WNYREIS

Property tax history

+1.3%/yr

Latest (2025): $1,488 · -38.9% YoY. Source: county tax records.