Two-Unit Duplex with
New
For Sale
$139,999
201 N 13th St, Olean, NY 14760
Corner-lot duplex with flexible living arrangements, updated systems, and included kitchen appliances.
Property Size2,064 SF
Price / SF$67.83
Days on Market3
Property Features for 201 N 13th St
General Information
Standard status
Active
Size
2,064 SF
Total Parking Spaces
1
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
would benefit from some updating
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,640
Amenities
central air conditioning
central vacuum system
enclosed front porch
rear deck
Building Details
Building Size
2,064 SF
Year Built
1890
Buildings
1
Stories
2
Units
2
Listing Agency:
Howard Hanna Holt Real Estate
(716) 307-6148
Listed By:
Jade Swick · License #10401405266
(716) 307-6148
Source:
Elliman
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:00PM
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 201 N 13th St in Olean, this two-unit property contains approximately 2,064 square feet and was built in 1890. The primary residence offers three bedrooms, two full bathrooms, an office, a remodeled kitchen with pantry, an enclosed front porch, and a rear deck. Kitchen appliances convey, and the basement includes a washer and electric dryer. Central air conditioning, central vacuum, and hardwood flooring beneath existing carpet add to the home's features.
The upper apartment includes one bedroom, a living/family room, a full bathroom, and a kitchen with an apartment-sized gas range and refrigerator. The unit has prior rental history, while the property is served by one electric meter and one water meter. A detached one-car garage, 2025 hot water tank replacement, and 2021 electrical updates are also included. The home would benefit from additional updating and offers a walkable, bikeable setting with a 72 Walk Score and 59 Bike Score.
The upper apartment includes one bedroom, a living/family room, a full bathroom, and a kitchen with an apartment-sized gas range and refrigerator. The unit has prior rental history, while the property is served by one electric meter and one water meter. A detached one-car garage, 2025 hot water tank replacement, and 2021 electrical updates are also included. The home would benefit from additional updating and offers a walkable, bikeable setting with a 72 Walk Score and 59 Bike Score.
Key Highlights
- Two‑unit property with approximately 2,064 square feet
- Main residence includes 3 bedrooms, 2 full bathrooms, office, and remodeled kitchen
- Upper apartment offers 1 bedroom, living/family room, full bathroom, and kitchen
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
$12,464
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
8.90%
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%
$249,280
$249.3K
Cap Rate 7%
$178,057
$178.1K
Cap Rate 9%
$138,489
$138.5K
Market Conditions
NOI Build-Up for 2,064 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
$24.8K $12.00/SF
− Vacancy
−$2.1K −$1.02/SF
EGI
$22.7K $10.98/SF
− OpEx
−$10.2K −$4.94/SF
NOI
$12.5K $6.04/SF
Area
Cattaraugus County, NY
Vacancy
8.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$249,280
Cap Rate 7%
$178,057
Cap Rate 9%
$138,489
Alternative Uses
Best Use
Multifamily LT 5
$189.5K
$165.8K – $221.1K
NOI $13,263 @ 7.0% cap · market cap 9.47%
Second Best
Apartment 5plus
$178.1K
$155.8K – $207.7K
NOI $12,464 @ 7.0% cap · market cap 8.90%
Theoretical Best
Healthcare Medical
$407.9K
$356.9K – $475.9K
NOI $28,555 @ 7.0% cap · market cap 20.40%
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
394
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 - Corner-lot duplex with flexible living arrangements, updated systems, and included kitchen appliances.
Where is this duplex located?
The property is located at 201 N 13th St Olean, NY.
What is the asking price?
The asking price for this property is $139,999.
What are key features of this property?
This property features: Two‑unit property with approximately 2,064 square feet; Main residence includes 3 bedrooms, 2 full bathrooms, office, and remodeled kitchen; Upper apartment offers 1 bedroom, living/family room, full bathroom, and kitchen
