Two Ranch Homes, One
For Sale
$224,900
Pending
101 & 103 N 19th St, Olean, NY 14760
Two updated ranch homes on one property, a rare find.
Property Size1,703 SF
Days on Market85
Property Features for 101 & 103 N 19th St
General Information
Standard status
Pending
Size
1,703 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,192
Building Details
Building Size
1,703 SF
Year Built
1945
Stories
1
Units
2
Listing Agency:
Howard Hanna Holt Real Estate
(716) 378-7039
Listed By:
Paul Pezzimenti · License #30PA0967867
(716) 378-7039
Source:
Elliman
Added: May 20
Changed: Aug 8
Last Checked: Aug 8 at 6:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna Holt Real Estate
Investment Insights
Based on property information with market context.
Located at 101 & 103 N 19th Street, this property features two move-in ready ranch homes. The main house, located at 103 N 19th Street, offers 975 square feet of living space. It features hardwood floors, a first-floor laundry, and a half bath. New plumbing and updated basement drainage have been installed. A covered and screened-in back porch provides an outdoor space. The second bedroom can be converted back from a laundry room. The guest home, located at 101 N 19th Street, provides 728 square feet of living space. This one-bedroom home is on a single level and includes an oversized two-car garage. Updated electrical is in place, and new PEX plumbing is being installed. The sale includes three parcels: 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). The bike score is 61, indicating it is bikeable, and the walk score is 65, indicating it is somewhat walkable.
Key Highlights
- Two move‑in ready ranch homes on one property, offering flexibility for living and renting or housing extended family.
- Main house (103 N 19th) features updated plumbing and basement drainage, providing peace of mind.
- Guest home (101 N 19th) includes an oversized two‑car garage, ideal for hobbies or extra storage.
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 updated ranch homes on one property, a rare find.
Where is this duplex located?
The property is located at 101 & 103 N 19th St 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 move‑in ready ranch homes on one property, offering flexibility for living and renting or housing extended family.; Main house (103 N 19th) features updated plumbing and basement drainage, providing peace of mind.; Guest home (101 N 19th) includes an oversized two‑car garage, ideal for hobbies or extra storage.
