Two Updated Ranch Homes
For Sale
$224,900
Pending
101 & 103 N 19th St, Olean, NY 14760
Own two move-in ready ranch homes on one property, offering flexible living with a covered porch and oversized garage.
Property Size1,703 SF
Days on Market59
Property Features for 101 & 103 N 19th St
General Information
Standard status
Pending
Size
1,703 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
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: Jun 15
Changed: Aug 8
Last Checked: Aug 12 at 5:18AM
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.
This offering features two updated ranch homes on a single property, designed for flexible occupancy or rental use. The main house at 103 N 19th Street includes 975 square feet, hardwood floors throughout, a first-floor laundry and half bath, and updates including brand new plumbing and basement drainage improvements. A covered and screened-in back porch adds an outdoor living space. The second bedroom is currently configured as a laundry room but can be restored to a full bedroom.
The second home at 101 N 19th Street is a one-bedroom ranch with 728 square feet and a fully self-contained layout all on one level. A standout feature is an oversized two-car garage that can support vehicle parking plus additional storage or hobby space. Updated electrical is in place, and the owner is installing new PEX plumbing to bring the home fully up to date. Sale also includes a vacant lot behind 103 N 19th.
For buyers seeking owner-occupied flexibility, this setup supports living in one home while renting the other. For investors, the property provides two separate, ranch-style units with distinct living configurations, each described as well-maintained and updated for comfortable day-one occupancy. Walking and biking scores indicate the location is very walkable and bikeable, supporting tenant lifestyle needs.
The second home at 101 N 19th Street is a one-bedroom ranch with 728 square feet and a fully self-contained layout all on one level. A standout feature is an oversized two-car garage that can support vehicle parking plus additional storage or hobby space. Updated electrical is in place, and the owner is installing new PEX plumbing to bring the home fully up to date. Sale also includes a vacant lot behind 103 N 19th.
For buyers seeking owner-occupied flexibility, this setup supports living in one home while renting the other. For investors, the property provides two separate, ranch-style units with distinct living configurations, each described as well-maintained and updated for comfortable day-one occupancy. Walking and biking scores indicate the location is very walkable and bikeable, supporting tenant lifestyle needs.
Key Highlights
- Own two ranch homes on one property: 101 & 103 N 19th Street (main house and self‑contained guest home).
- Main house at 103 N 19th Street offers 975 SF with hardwood floors, first‑floor laundry, and a half bath.
- Main house updates include brand new plumbing and updated basement drainage; flexible second bedroom currently doubles as laundry room.
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
Lease Details
2
Residential units
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 - Own two move-in ready ranch homes on one property, offering flexible living with a covered porch and oversized garage.
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: Own two ranch homes on one property: 101 & 103 N 19th Street (main house and self‑contained guest home).; Main house at 103 N 19th Street offers 975 SF with hardwood floors, first‑floor laundry, and a half bath.; Main house updates include brand new plumbing and updated basement drainage; flexible second bedroom currently doubles as laundry room.
