312 W Green St · Olean, NY 14760

$39,900

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 106 Days on market

Built 1910 7,150 sqft lot $32/sqft · 56% below area

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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

Listing remarks MLS

Strong bones, big upside in Olean. This 3-bedroom, 1.5-bath home features a 2024 roof, solid foundation, full basement, and gas heat. One first-floor room has fire and smoke damage; remediation and cosmetic work unlock the true potential. Full layout intact, rear porch adds charm, and the structure is ready for a savvy investor or handyman to bring it back to life. Sold as-is.

Key facts

• 2024 roof
• Solid foundation
• Gas heat

Tags

• 2024 ROOF
• SOLID FOUNDATION
• FULL BASEMENT
• GAS HEAT
• REAR PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $764 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.3% 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: 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 $276 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.30% ✓
• Cap rate: 29.28%
• Cash-on-cash: 82.08%
• DSCR: 4.65
• GRM: 2.5

CMA / ARV

• ARV (median comp): $90,930
• List price: $39,900
• Delta: -56.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 S 3rd St	0.04mi	3/1.0	1,270 (+3%)	5mo	$10,000	$8	89
708 Irving St	0.25mi	3/1.5	1,232 (0%)	5mo	$25,000	$20	82
119 W Green St	0.12mi	2/1.0 (-1)	1,278 (+4%)	9mo	$85,000	$67	76
123 S 4th St	0.20mi	2/1.0 (-1)	1,300 (+6%)	4mo	$90,000	$69	72
120 W Green St Unit R	0.12mi	3/2.0	1,128 (-8%)	8mo	$15,000	$13	70
130 S 6th St	0.28mi	3/2.0	1,320 (+7%)	10mo	$150,000	$114	63
625 S Union St	0.35mi	3/2.5	1,306 (+6%)	12mo	$67,000	$51	58
124 N 11th St	0.61mi	3/1.0	1,196 (-3%)	12mo	$86,500	$72	56
302 N 9th St	0.71mi	3/1.5	1,224 (-1%)	14mo	$95,000	$78	52
118 N 11th St	0.60mi	4/1.5 (+1)	1,314 (+7%)	12mo	$76,000	$58	44
105 Fulton St	0.48mi	2/1.0 (-1)	1,084 (-12%)	14mo	$115,000	$106	41
1117 W Sullivan St	0.74mi	3/1.5	1,400 (+14%)	6mo	$53,500	$38	36

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: 82.4%
• Equity multiple: 4.78×
• Total profit: $42,226
• Equity at exit: $5,949

10-year hold

• IRR: 85.7%
• Equity multiple: 9.91×
• Total profit: $99,523
• Equity at exit: $3,450

Cash invested: $11,172 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $764

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 37%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $39,900 Active 106 DOM
2. 2026-06-17
   days on market $39,900 Active 105 DOM
3. 2026-06-16
   days on market $39,900 Active 104 DOM
4. 2026-06-15
   days on market $39,900 Active 103 DOM
5. 2026-06-13
   days on market $39,900 Active 101 DOM
6. 2026-06-12
   days on market $39,900 Active 100 DOM
7. 2026-06-09
   days on market $39,900 Active 97 DOM
8. 2026-06-08
   days on market $39,900 Active 96 DOM
9. 2026-06-07
   days on market $39,900 Active 95 DOM
10. 2026-06-07
    days on market $39,900 Active 94 DOM
11. 2026-06-04
    days on market $39,900 Active 91 DOM
12. 2026-06-02
    days on market $39,900 Active 90 DOM
13. 2026-06-01
    days on market $39,900 Active 89 DOM
14. 2026-05-31
    days on market $39,900 Active 88 DOM
15. 2026-03-04
    listed $39,900 Active 381-char remark

    Show marketing remark (381 chars)

    Strong bones, big upside in Olean. This 3-bedroom, 1.5-bath home features a 2024 roof, solid foundation, full basement, and gas heat. One first-floor room has fire and smoke damage; remediation and cosmetic work unlock the true potential. Full layout intact, rear porch adds charm, and the structure is ready for a savvy investor or handyman to bring it back to life. Sold as-is.

16. 2025-01-21
    soldstatus $40,000
17. 2025-01-20
    soldstatus $40,000 Closed 51-char remark

    Show marketing remark (51 chars)

    Solid older 2 story city home with great potential.

18. 2024-11-21
    status Pending 51-char remark

    Show marketing remark (51 chars)

    Solid older 2 story city home with great potential.

19. 2024-10-16
    price $44,900 51-char remark

    Show marketing remark (51 chars)

    Solid older 2 story city home with great potential.

20. 2024-07-16
    listed $49,900 Active 51-char remark

    Show marketing remark (51 chars)

    Solid older 2 story city home with great potential.

21. 2023-11-03
    historical
22. 2023-07-08
    price $59,900
23. 2023-05-24
    price $65,000
24. 2023-05-03
    listed $69,900 Active
25. 2023-01-07
    historical
26. 2022-10-11
    price $80,000
27. 2022-10-10
    price $89,000
28. 2022-09-28
    price $100,000
29. 2022-09-19
    listed $109,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $15,796
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$1,161
• Taxable income: $9,075
• Est. tax owed @ 24.0%: −$2,178
• After-tax cash flow: $6,992/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

-63.7% since first listed

15 events — show timeline

• 2026-03-04 Listed $39,900 WNYREIS
• 2025-01-21 Sold (Public Records) $40,000 Public Records
• 2025-01-20 Sold (MLS) $40,000 UNYREIS
• 2024-11-21 Pending — UNYREIS
• 2024-10-16 Price Changed $44,900 UNYREIS
• 2024-07-16 Listed $49,900 UNYREIS
• 2023-11-03 Listing Removed — UNYREIS
• 2023-07-08 Price Changed $59,900 UNYREIS
• 2023-05-24 Price Changed $65,000 UNYREIS
• 2023-05-03 Listed $69,900 UNYREIS
• 2023-01-07 Listing Removed — WNYREIS
• 2022-10-11 Price Changed $80,000 WNYREIS
• 2022-10-10 Price Changed $89,000 WNYREIS
• 2022-09-28 Price Changed $100,000 WNYREIS
• 2022-09-19 Listed $109,900 WNYREIS

Property tax history

+9.1%/yr

Latest (2025): $2,010 · -38.9% YoY. Source: county tax records.