314 N 2nd St · Olean, NY 14760

$130,000

40 bd · None ba · 5,700 sqft · MultiFamily public records · 32 Days on market

Built 1900 10,400 sqft lot ↓ 7% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

8-Unit Investment Opportunity! Strong Cash Flow Potential! Rare opportunity to purchase two multi-family properties totaling 8 units, to be sold together for $279,000 (approximately $35,000 per unit). The properties offer immediate income potential with room for growth. Current rents are below market, providing an opportunity for increased returns with future adjustments. Many units feature separate layouts, offering flexibility for tenants. The properties have seen numerous updates, including: Metal roof (314) less than 1 year old Roof (316) approximately 5 years old There are currently two vacant, renovated units ready for occupancy, allowing for immediate lease-up or owner-oc

Key facts

• Numerous renovations
• Value-add potential
• Two vacant units

Tags

• 8 UNITS
• POSITIVE CASH FLOW
• VALUE-ADD POTENTIAL
• NUMEROUS RENOVATIONS
• NEWER METAL ROOF
• TWO VACANT UNITS

Property features AI

Finance

• Other: Five total units with separate electric and gas meters for each unit
• Financial info: Owner pays water; water is included in rent; Operating expenses include insurance, maintenance, and water/sewer

Exterior

• Parking: Three or more parking spaces; No garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Metal roof; Vinyl siding
• Construction: Metal roof; Vinyl siding; Existing construction
• Exterior features: Blacktop driveway; Rectangular residential lot; City street frontage; Lot dimensions approx. 100 x 104

Interior

• Flooring: Carpet; Laminate; Vinyl; Varies
• Heating & cooling: Has heating; Electric heating; Gas heating; Baseboard heating; Forced air heating
• Interior features: Diverse flooring including carpet, laminate, vinyl, and varying materials; Dirt floor basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1.5-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $5k ($58k/yr) — positive. Per door: $604/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 50.9% 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.
• 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 $899 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 $36k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 5.71% ✓
• Cap rate: 50.91%
• Cash-on-cash: 159.35%
• DSCR: 8.09
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.88×
• Total profit: $286,984
• Equity at exit: $19,383

10-year hold

• IRR: —
• Equity multiple: 18.78×
• Total profit: $647,090
• Equity at exit: $11,240

Cash invested: $36,400 (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: 11.7×

Monthly cashflow live

• Estimated rent: $7,417 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$290 /mo · $3,478/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,558
• Net cashflow: $4,834

Break-even live

Break-even rent $1,298

Max offer price $130,000

Occupancy floor 30%

Sensitivity live

Price	-10% $4,907	-5% $4,870	+0% $4,834	+5% $4,797	+10% $4,760
Rent	-10% $4,248	-5% $4,541	+0% $4,834	+5% $5,127	+10% $5,420
Rate	-1.0pp $4,899	-0.5pp $4,867	base $4,834	+0.5pp $4,800	+1.0pp $4,766

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1.5	$7,416
Total (8 units)			$7,417

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-20
   status Pending
2. 2026-04-12
   price $130,000
3. 2026-04-07
   price $134,500
4. 2026-03-19
   listed $139,500 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: $3,478 · $290/mo
• Projected year-2 tax: $3,478 · $290/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: $89,004
• − Mortgage interest: −$7,282
• − Property taxes: −$3,478
• − Insurance: −$650
• − Repairs & maintenance: −$7,120
• − Management: −$7,120
• − Depreciation: −$3,782
• Taxable income: $59,571
• Est. tax owed @ 24.0%: −$14,297
• After-tax cash flow: $43,707/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

-6.8% since first listed

4 events — show timeline

• 2026-04-20 Pending — UNYREIS
• 2026-04-12 Price Changed $130,000 UNYREIS
• 2026-04-07 Price Changed $134,500 UNYREIS
• 2026-03-19 Listed $139,500 UNYREIS

Property tax history

+0.1%/yr

Latest (2025): $3,478 · -38.9% YoY. Source: county tax records.