204 N 24th St · Olean, NY 14760

$134,900

4 bd · 1.5 ba · 1,576 sqft · SingleFamily public records · 95 Days on market

Built 1890 0.68 ac lot $86/sqft · 18% below area Est $164k · 18% 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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +6.1/10.0
• 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

This inviting 4-bedroom, 2-bathroom home offers comfort, convenience, and plenty of room to spread out. The first floor features a bright living room, an updated kitchen, a cozy family room, a formal dining room, a first-floor bedroom, convenient laundry area, and an enclosed porch perfect for year-round enjoyment. Brand-new carpeting has been installed on the main level, adding a fresh touch throughout. Upstairs, you’ll find three more bedrooms and a full bathroom, with both the bathroom and one of the bedrooms featuring skylights that fill the spaces with natural light. There’s also a bonus room upstairs, ideal for storage or a small office. Outside, the property includes two outbuildings—a garage and a second structure great for storage or a workshop—both ready for a little TLC to unlock their full potential. A charming side covered porch offers a relaxing spot to enjoy the outdoors, while the large city lot provides space for gardening, play, or entertaining. Located just minutes from shopping, restaurants, and other Olean amenities, this home combines convenience with plenty of potential, making it an excellent opportunity for a buyer ready to make it their own.

Key facts

• Bonus room
• Two outbuildings
• Side covered porch

Tags

• UPDATED KITCHEN
• ENCLOSED PORCH
• SKYLIGHTS
• BONUS ROOM
• TWO OUTBUILDINGS
• SIDE COVERED PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.

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: 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 $933 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

• It's been on market 95 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $135k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,759 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 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 1890 — 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: 1.11% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 7.5

CMA / ARV

• ARV (median comp): $164,025
• List price: $134,900
• Delta: -17.76%
• 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
221 N 19th St	0.30mi	4/1.0	1,578 (+0%)	6mo	$182,320	$116	79
105 N 20th St	0.21mi	4/1.0	1,652 (+5%)	10mo	$187,500	$113	72
315 N 18th St	0.39mi	3/2.0 (-1)	1,577 (+0%)	7mo	$180,000	$114	69
2005 W State St	0.30mi	3/1.0 (-1)	1,504 (-5%)	5mo	$115,000	$76	67
115 N 17th St	0.37mi	4/2.0	1,638 (+4%)	9mo	$176,000	$107	66
205 N 24th St	0.03mi	4/2.5	1,804 (+14%)	5mo	$255,000	$141	66
112 N 21st St	0.17mi	4/2.0	1,420 (-10%)	9mo	$120,000	$85	66
133 N 15th St	0.49mi	3/1.5 (-1)	1,554 (-1%)	9mo	$180,000	$116	62
216 N 14th St	0.59mi	3/1.5 (-1)	1,516 (-4%)	3mo	$143,000	$94	59
133 N 13th St	0.61mi	3/2.0 (-1)	1,496 (-5%)	6mo	$149,900	$100	51
323 N 12th	0.71mi	4/2.0	1,678 (+6%)	12mo	$140,000	$83	44
218 N 12th St	0.71mi	3/1.5 (-1)	1,344 (-15%)	10mo	$99,900	$74	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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-9,914
• Equity at exit: $20,114

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $6,914
• Equity at exit: $11,664

Cash invested: $37,772 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$229 /mo · $2,744/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $187

Break-even live

Break-even rent $1,256

Max offer price $134,900

Occupancy floor 82%

Sensitivity live

Price	-10% $263	-5% $225	+0% $187	+5% $148	+10% $110
Rent	-10% $69	-5% $128	+0% $187	+5% $246	+10% $305
Rate	-1.0pp $255	-0.5pp $221	base $187	+0.5pp $152	+1.0pp $116

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-11
   price $134,900 1209-char remark

   Show marketing remark (1209 chars)

   This inviting 4-bedroom, 2-bathroom home offers comfort, convenience, and plenty of room to spread out. The first floor features a bright living room, an updated kitchen, a cozy family room, a formal dining room, a first-floor bedroom, convenient laundry area, and an enclosed porch perfect for year-round enjoyment. Brand-new carpeting has been installed on the main level, adding a fresh touch throughout. Upstairs, you’ll find three more bedrooms and a full bathroom, with both the bathroom and one of the bedrooms featuring skylights that fill the spaces with natural light. There’s also a bonus room upstairs, ideal for storage or a small office. Outside, the property includes two outbuildings—a garage and a second structure great for storage or a workshop—both ready for a little TLC to unlock their full potential. A charming side covered porch offers a relaxing spot to enjoy the outdoors, while the large city lot provides space for gardening, play, or entertaining. Located just minutes from shopping, restaurants, and other Olean amenities, this home combines convenience with plenty of potential, making it an excellent opportunity for a buyer ready to make it their own.

2. 2026-04-08
   price $139,900 1209-char remark

   Show marketing remark (1209 chars)

   This inviting 4-bedroom, 2-bathroom home offers comfort, convenience, and plenty of room to spread out. The first floor features a bright living room, an updated kitchen, a cozy family room, a formal dining room, a first-floor bedroom, convenient laundry area, and an enclosed porch perfect for year-round enjoyment. Brand-new carpeting has been installed on the main level, adding a fresh touch throughout. Upstairs, you’ll find three more bedrooms and a full bathroom, with both the bathroom and one of the bedrooms featuring skylights that fill the spaces with natural light. There’s also a bonus room upstairs, ideal for storage or a small office. Outside, the property includes two outbuildings—a garage and a second structure great for storage or a workshop—both ready for a little TLC to unlock their full potential. A charming side covered porch offers a relaxing spot to enjoy the outdoors, while the large city lot provides space for gardening, play, or entertaining. Located just minutes from shopping, restaurants, and other Olean amenities, this home combines convenience with plenty of potential, making it an excellent opportunity for a buyer ready to make it their own.

3. 2026-02-16
   listed $144,900 Active 1209-char remark

   Show marketing remark (1209 chars)

   This inviting 4-bedroom, 2-bathroom home offers comfort, convenience, and plenty of room to spread out. The first floor features a bright living room, an updated kitchen, a cozy family room, a formal dining room, a first-floor bedroom, convenient laundry area, and an enclosed porch perfect for year-round enjoyment. Brand-new carpeting has been installed on the main level, adding a fresh touch throughout. Upstairs, you’ll find three more bedrooms and a full bathroom, with both the bathroom and one of the bedrooms featuring skylights that fill the spaces with natural light. There’s also a bonus room upstairs, ideal for storage or a small office. Outside, the property includes two outbuildings—a garage and a second structure great for storage or a workshop—both ready for a little TLC to unlock their full potential. A charming side covered porch offers a relaxing spot to enjoy the outdoors, while the large city lot provides space for gardening, play, or entertaining. Located just minutes from shopping, restaurants, and other Olean amenities, this home combines convenience with plenty of potential, making it an excellent opportunity for a buyer ready to make it their own.

4. 2026-02-12
   historical
5. 2026-01-02
   status Active
6. 2025-12-30
   status Pending
7. 2025-11-14
   status Active
8. 2025-10-29
   status Pending
9. 2025-08-12
   listed $149,900 Active
10. 2005-01-18
    soldstatus $70,000

ⓘ 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: $2,744 · $229/mo
• Projected year-2 tax: $2,744 · $229/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 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 · 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: $17,908
• − Mortgage interest: −$7,556
• − Property taxes: −$2,744
• − Insurance: −$674
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$3,924
• Taxable income: $143
• Est. tax owed @ 24.0%: −$34
• After-tax cash flow: $2,205/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

+92.7% since first listed

10 events — show timeline

• 2026-04-11 Price Changed $134,900 UNYREIS
• 2026-04-08 Price Changed $139,900 UNYREIS
• 2026-02-16 Listed $144,900 UNYREIS
• 2026-02-12 Listing Removed — UNYREIS
• 2026-01-02 Relisted — UNYREIS
• 2025-12-30 Pending — UNYREIS
• 2025-11-14 Relisted — UNYREIS
• 2025-10-29 Pending — UNYREIS
• 2025-08-12 Listed $149,900 UNYREIS
• 2005-01-18 Sold (Public Records) $70,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $2,744 · -38.9% YoY. Source: county tax records.