324 Queen St · Olean, NY 14760

$130,000

4 bd · 1.5 ba · 1,274 sqft · SingleFamily public records · 7 Days on market

Built 1957 0.34 ac lot Est $152k · 14% under

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Why this score? — see what drove the C+ 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 +23.1/30.0
• ARV discount +13.9/15.0
• DSCR +7.4/10.0
• 1% rule +6.2/10.0
• 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

Listing remarks

Step back in time as you enter this retro-styled, beautifully maintained home filled with character, warmth, and thoughtful design. The large eat-in kitchen offers an abundance of solid wood cabinetry and plenty of space for a dining table or island, making it the perfect gathering spot. The spacious living room features vintage, barely-used furniture (included in the sale if desired) and a charming freestanding fireplace that adds the perfect touch of ambiance on chilly winter evenings. This home boasts six potential bedrooms, each with generous closet space. Prefer fewer rooms with more function? The layout easily accommodates four sizable bedrooms, plus a home office with supply closet,

Key facts

• Solid wood cabinetry
• Workout room
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• SOLID WOOD CABINETRY
• FREESTANDING FIREPLACE
• HOME OFFICE
• WORKOUT ROOM
• OVERSIZED GARAGE

Property features AI

Exterior

• Parking: Detached garage with electricity and workshop space; 1 garage space
• Utilities: Electricity connected; Public water connected; Sewer connected; High-speed internet available; Cable available
• Home design: Single-story home; Existing (previously built) structure; Pitched shingle roof; Block foundation
• Construction: Block, frame and concrete construction; Copper plumbing
• Exterior features: Blacktop driveway; Shed(s) / storage

Interior

• Kitchen: Electric oven; Electric range; Refrigerator; Eat-in kitchen
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Resilient flooring; Varied flooring
• Bathrooms: 2 full bathrooms (1 on main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Cathedral ceilings; Eat-in kitchen; Window treatments (drapes); Partially furnished; Accessible bedroom; Bedroom on main level; Main level primary bedroom
• Laundry & utility: Washer; Dryer; Laundry on main level and in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).

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 $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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1957 — 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. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $151,606
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
832 Garden Ave	0.20mi	4/1.0	1,260 (-1%)	9mo	$77,000	$61	80
834 Prospect Ave	0.40mi	3/2.0 (-1)	1,323 (+4%)	9mo	$269,900	$204	61
318 King St	0.15mi	3/1.5 (-1)	1,416 (+11%)	13mo	$105,000	$74	58
713 Prince St	0.14mi	3/2.0 (-1)	1,440 (+13%)	11mo	$175,501	$122	56
422 Alder St	0.17mi	3/1.0 (-1)	1,420 (+12%)	15mo	$145,000	$102	53
532 N Clark St	0.49mi	3/1.0 (-1)	1,288 (+1%)	18mo	$160,000	$124	53
407 N Clark St	0.49mi	3/2.0 (-1)	1,404 (+10%)	9mo	$167,000	$119	46
330-38 Paragon Ave	0.73mi	3/1.0 (-1)	1,296 (+2%)	12mo	$35,000	$27	46
1218 Seneca Ave	0.44mi	3/1.0 (-1)	1,152 (-10%)	13mo	$155,500	$135	46
1327 Seneca Ave	0.58mi	3/2.0 (-1)	1,452 (+14%)	6mo	$170,000	$117	37
655 Prospect Ave	0.47mi	3/2.0 (-1)	1,458 (+14%)	18mo	$181,000	$124	32
526 Prospect Ave	0.53mi	3/2.0 (-1)	1,430 (+12%)	20mo	$135,000	$94	32

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-6,123
• Equity at exit: $19,383

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $14,000
• 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: 141
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$179 /mo · $2,153/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $234

Break-even live

Break-even rent $1,159

Max offer price $130,000

Occupancy floor 79%

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 2 events

1. 2026-05-15
   status Pending
2. 2026-05-08
   listed $130,000 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: $2,153 · $179/mo
• Projected year-2 tax: $2,175 · $181/mo
• Expected delta: +$22/yr (+$2/mo · 1.0%)

ⓘ 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 · 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: $17,460
• − Mortgage interest: −$7,282
• − Property taxes: −$2,153
• − Insurance: −$650
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$3,782
• Taxable income: $799
• Est. tax owed @ 24.0%: −$192
• After-tax cash flow: $2,617/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

2 events — show timeline

• 2026-05-15 Pending — UNYREIS
• 2026-05-08 Listed $130,000 UNYREIS

Property tax history

+16.7%/yr

Latest (2025): $2,153 · -45.1% YoY. Source: county tax records.