319 N 7th St · Olean, NY 14760

$92,000

3 bd · 1.0 ba · 1,238 sqft · SingleFamily public records · 23 Days on market

Built 1910 3,200 sqft lot $74/sqft · 14% below area Est $107k · 14% under

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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
• ARV discount +13.8/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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 MLS

OLEAN. FIRST TIME OFFERED. 3 BEDROOM HOME WITH 2 CAR GARAGE. LOCATED BETWEEN MIDDLE AND HIGH SCHOOL. MLS#B417473

Key facts

• Quiet street
• Manageable yard
• Updated mudroom

Tags

• UPDATED MUDROOM
• AMPLE CABINET SPACE
• CLEAN AND DRY BASEMENT
• DETACHED GARAGE
• MANAGEABLE YARD
• QUIET STREET

Property features AI

Exterior

• Parking: Detached garage; Garage with electricity and garage door opener; Shared driveway
• Utilities: Electricity connected (circuit breakers); High-speed internet available; Public water connected; Sewer connected
• Home design: 2 stories; Resale property; Exterior entry to basement; Full walk-up basement
• Construction: Vinyl siding; Architectural shingle roof; Block foundation; Attic/crawl hatchway(s) insulated; Year built: existing
• Exterior features: Concrete driveway; Gravel driveway; Deck; Covered porch; Fence (partial)

Interior

• Kitchen: Microwave; Refrigerator
• Flooring: Carpet; Laminate; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Entrance foyer; Country kitchen; Window treatments; Drapes; Workshop
• Laundry & utility: Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $91k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% 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.
• Zoned schools: Washington West Elementary School (math 24% / reading 44%, grade F, #1,577 of 2,108 statewide, top 77%, 304 students, 57% FRL); Olean Intermediate-Middle School (math 23% / reading 36%, 564 students, 58% FRL); Olean Senior High School (math 77% / reading 67%, grade B+, #677 of 1,100 statewide, top 63%, 659 students, 49% FRL).
• Market conditions: 144 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 $636 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $46k; list at $92k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,620 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 1.43% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.46%
• DSCR: 1.73
• GRM: 5.8

CMA / ARV

• ARV (median comp): $107,054
• List price: $92,000
• Delta: -14.06%
• 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
708 Irving St	0.54mi	3/1.5	1,232 (-0%)	5mo	$25,000	$20	68
309 S 3rd St	0.64mi	3/1.0	1,270 (+3%)	5mo	$10,000	$8	62
218 N 12th St	0.29mi	3/1.5	1,344 (+9%)	10mo	$99,900	$74	62
123 S 4th St	0.47mi	2/1.0 (-1)	1,300 (+5%)	4mo	$90,000	$69	61
1117 W Sullivan St	0.24mi	3/1.5	1,400 (+13%)	6mo	$53,500	$38	60
1705 W State St	0.65mi	3/1.0	1,156 (-7%)	2mo	$37,500	$32	57
1014 N Union St	0.72mi	2/1.0 (-1)	1,224 (-1%)	3mo	$30,000	$25	57
130 S 6th St	0.45mi	3/2.0	1,320 (+7%)	10mo	$150,000	$114	56
334 N 13th St	0.34mi	2/1.0 (-1)	1,392 (+12%)	5mo	$74,500	$54	54
119 W Green St	0.75mi	2/1.0 (-1)	1,278 (+3%)	9mo	$85,000	$67	47
120 W Green St Unit R	0.71mi	3/2.0	1,128 (-9%)	8mo	$15,000	$13	41
224 S 16th St	0.71mi	2/2.0 (-1)	1,120 (-10%)	3mo	$69,000	$62	40

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: 7.6%
• Equity multiple: 1.30×
• Total profit: $7,644
• Equity at exit: $13,717

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $35,836
• Equity at exit: $7,954

Cash invested: $25,760 (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: 144
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$166 /mo · $1,990/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $353

Break-even live

Break-even rent $869

Max offer price $92,000

Occupancy floor 68%

Sensitivity live

Price	-10% $405	-5% $379	+0% $353	+5% $327	+10% $301
Rent	-10% $249	-5% $301	+0% $353	+5% $405	+10% $457
Rate	-1.0pp $400	-0.5pp $377	base $353	+0.5pp $329	+1.0pp $305

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-02
   statusdays on market $92,000 Pending 23 DOM
2. 2026-06-01
   days on market $92,000 Active Under Contract 22 DOM
3. 2026-05-31
   days on market $92,000 Active Under Contract 21 DOM
4. 2026-05-10
   listed $92,000 Active 1221-char remark
5. 2013-01-01
   soldstatus $46,000 112-char remark

   Show marketing remark (112 chars)

   OLEAN. FIRST TIME OFFERED. 3 BEDROOM HOME WITH 2 CAR GARAGE. LOCATED BETWEEN MIDDLE AND HIGH SCHOOL. MLS#B417473

6. 2012-12-24
   soldstatus $46,000
7. 2012-10-02
   listed $49,900 112-char remark

   Show marketing remark (112 chars)

   OLEAN. FIRST TIME OFFERED. 3 BEDROOM HOME WITH 2 CAR GARAGE. LOCATED BETWEEN MIDDLE AND HIGH SCHOOL. MLS#B417473

ⓘ 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: $1,990 · $166/mo
• Projected year-2 tax: $1,990 · $166/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 4/10 Moderate FEMA zone X (shaded) · 22% 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: $15,796
• − Mortgage interest: −$5,153
• − Property taxes: −$1,990
• − Insurance: −$460
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$2,676
• Taxable income: $2,989
• Est. tax owed @ 24.0%: −$717
• After-tax cash flow: $3,522/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

+84.4% since first listed

6 events — show timeline

• 2026-06-02 Pending — WNYREIS
• 2026-05-23 Contingent — WNYREIS
• 2026-05-10 Listed $92,000 WNYREIS
• 2013-01-01 Sold (MLS) $46,000 WNYREIS
• 2012-12-24 Sold (Public Records) $46,000 Public Records
• 2012-10-02 Listed $49,900 WNYREIS

Property tax history

+0.1%/yr

Latest (2025): $1,990 · -38.9% YoY. Source: county tax records.