201 N 18th St · Olean, NY 14760

$145,000

3 bd · 3.0 ba · 1,342 sqft · MultiFamily public records · 4 Days on market

Built 1985 4,200 sqft 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Seize this incredible opportunity to acquire a well-maintained, income-generating real estate portfolio in Olean, NY. This package includes five properties, consisting of a mix of multi-family units, totaling 11 rental units. With a strong rental history and consistent cash flow, this portfolio is perfect for both seasoned investors looking to expand their holdings and newcomers seeking a solid, diversified entry into the market. Included in this portfolio are 201 N 18th St (3-unit), 206 S 13th St (2-unit), 753-755 Garden Ave (2-unit), 125 N 3rd St (2-unit), and 217 King St (2-unit). These properties are located in strong rental demand areas, ensuring a steady stream of income. With a combi

Key facts

• Turnkey portfolio
• Consistent cash flow
• 4,200 sq ft lot

Tags

• STRONG RENTAL HISTORY
• CONSISTENT CASH FLOW
• STRONG RENTAL DEMAND AREAS
• TURNKEY PORTFOLIO

Property features AI

Finance

• Other: Multi-unit property with 3 total units; Each unit has separate gas and electric meters; Operating expense details: see remarks
• Financial info: Owner pays water; rent includes water (if rented)
• HOA & community: Not specified

Exterior

• Parking: Attached garage with 1 space; Additional parking with two or more spaces
• Security: Not specified
• Utilities: Public water connected; Sewer connected
• Home design: Single-story building; Resale property; Vinyl siding construction
• Construction: Vinyl siding; Existing construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 105

Interior

• Kitchen: Not specified
• Bedrooms: Not specified
• Flooring: Hardwood; Varies
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric baseboard heating
• Interior features: Hardwood and varied flooring; Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $386/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Cap rate 15.9% 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: 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $19k; list at $145k implies a 660% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.94% ✓
• Cap rate: 15.89%
• Cash-on-cash: 34.26%
• DSCR: 2.52
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $53,680
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 N Eleventh	0.44mi	2/2.0 (-1)	1,334 (-1%)	6mo	$53,500	$40	64
1608 Ave B	0.69mi	3/2.0	1,468 (+9%)	23mo	$59,000	$40	29

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: 29.7%
• Equity multiple: 2.24×
• Total profit: $50,408
• Equity at exit: $21,620

10-year hold

• IRR: 37.0%
• Equity multiple: 4.43×
• Total profit: $139,279
• Equity at exit: $12,537

Cash invested: $40,600 (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: 12.9×

Monthly cashflow live

• Estimated rent: $2,812 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$242 /mo · $2,899/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $1,159

Break-even live

Break-even rent $1,345

Max offer price $145,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,241	-5% $1,200	+0% $1,159	+5% $1,118	+10% $1,077
Rent	-10% $937	-5% $1,048	+0% $1,159	+5% $1,270	+10% $1,381
Rate	-1.0pp $1,232	-0.5pp $1,196	base $1,159	+0.5pp $1,122	+1.0pp $1,083

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$2,811
Total (3 units)			$2,812

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $145,000 Active 4 DOM
2. 2026-06-18
   days on market $145,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $145,000 Active 1 DOM

ⓘ 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: $2,899 · $242/mo
• Projected year-2 tax: $2,899 · $242/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 6/10 Major FEMA zone X (shaded) · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 20 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: $33,744
• − Mortgage interest: −$8,122
• − Property taxes: −$2,899
• − Insurance: −$725
• − Repairs & maintenance: −$2,700
• − Management: −$2,700
• − Depreciation: −$4,218
• Taxable income: $12,381
• Est. tax owed @ 24.0%: −$2,971
• After-tax cash flow: $10,938/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

+660.3% since first listed

6 events — show timeline

• 2026-06-16 Listed $145,000 UNYREIS
• 2025-09-13 Price Changed $145,000 UNYREIS
• 2025-08-24 Price Changed $474,000 UNYREIS
• 2025-07-15 Price Changed $574,000 UNYREIS
• 2025-03-13 Listed $599,000 UNYREIS
• 2009-05-27 Sold (Public Records) $19,072 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,899 · -38.9% YoY. Source: county tax records.