Duplex With Two Updated Ranch
For Sale
$224,900
Pending
101 & 103 N 19th Street, Olean, NY 14760
MULTI_FAMILY - Olean, NY
Property Size1,703 SF
Lot Size0.09 Acres
Days on Market94
Property Features for 101 & 103 N 19th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2, Basement
Parking features
Open, Garage
Patio and Porch features
Porch
Interior features
CeilingFans, NaturalWoodwork
Exterior features
EnclosedPorch, Porch
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school
Washington West Elementary
Middle school
Olean Middle
High school
Olean Senior High
Elementary school district
Olean
Middle school district
Olean
High school district
Olean
Directions
From Route 417 turn onto N 19th Street the property is on the left
Subdivision
Olean-City-041200
Standard status
Pending
APN
041200-094-063-0002-017-000-0000
Size
1,703 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4192
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
screened-in porch
two-car garage
Building Details
Year built
1945
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Carpet, Vinyl, Varies
Building materials
VinylSiding, WoodSiding, PexPlumbing
Listing Agency:
Howard Hanna Professionals - Olean
(716) 372-1155
Listed By:
Paul Pezzimenti · License #10301214758
(716) 378-7039
Added: May 19
Changed: Aug 4
Last Checked: Aug 20 at 4:06AM
MLS# R1683197
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers two updated ranch homes on one property, providing flexible owner-occupant and rental options. 103 N 19th Street includes a main 975 SF ranch home with hardwood floors, first-floor laundry, and a half bath. The home also has brand new plumbing and updated basement drainage, plus a covered and screened-in back porch for year-round outdoor enjoyment. A second bedroom is currently set up as a laundry area, with the option to convert it back to a full bedroom.
101 N 19th Street features a 728 SF one-bedroom, single-level guest home with updated electrical. The owner is actively installing brand new PEX plumbing, and the property includes an oversized two-car garage with open parking. Both homes are connected to public water and are heated with natural gas forced air.
The combined property totals 1,703 SF on a 0.0947-acre lot. The sale includes 94.063-2-17 (103 N 19th), 94.063-2-20.1 (101 N 19th), and 94.063-2-20.2 (vacant lot behind 103 N 19th).
101 N 19th Street features a 728 SF one-bedroom, single-level guest home with updated electrical. The owner is actively installing brand new PEX plumbing, and the property includes an oversized two-car garage with open parking. Both homes are connected to public water and are heated with natural gas forced air.
The combined property totals 1,703 SF on a 0.0947-acre lot. The sale includes 94.063-2-17 (103 N 19th), 94.063-2-20.1 (101 N 19th), and 94.063-2-20.2 (vacant lot behind 103 N 19th).
Key Highlights
- Two updated ranch homes on one property at 101 & 103 N 19th Street
- 103 N 19th Street: 975 SF ranch with first‑floor laundry, half bath, screened‑in back porch
- 101 N 19th Street: 728 SF one‑bedroom guest home with oversized two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,943
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$218,860
$218.9K
Cap Rate 7%
$156,329
$156.3K
Cap Rate 9%
$121,589
$121.6K
Market Conditions
NOI Build-Up for 1,703 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.4K $10.20/SF
− Vacancy
−$1.7K −$1.02/SF
EGI
$15.6K $9.18/SF
− OpEx
−$4.7K −$2.75/SF
NOI
$10.9K $6.43/SF
Area
Cattaraugus County, NY
Vacancy
10.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$218,860
Cap Rate 7%
$156,329
Cap Rate 9%
$121,589
Alternative Uses
Best Use
Multifamily LT 5
$156.3K
$136.8K – $182.4K
NOI $10,943 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$146.9K
$128.6K – $171.4K
NOI $10,284 @ 7.0% cap · market cap 4.57%
Theoretical Best
Healthcare Medical
$336.6K
$294.5K – $392.7K
NOI $23,561 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 14760, NY
18,031
Population
8,917
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
91%
High-School Grad
65.1 sq mi
ZIP Area
277
Density / Sq Mi
$52,569
Median Household Income
$35,754
Median Earnings
$777
Median Rent
$99,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two move-in-ready ranch homes on one property at 101 & 103 N 19th Street, with updated systems and covered outdoor space.
Where is this duplex located?
The property is located at 101 & 103 N 19th Street Olean, NY.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two updated ranch homes on one property at 101 & 103 N 19th Street; 103 N 19th Street: 975 SF ranch with first‑floor laundry, half bath, screened‑in back porch; 101 N 19th Street: 728 SF one‑bedroom guest home with oversized two‑car garage
