Two-Unit Duplex With
New
For Sale
$139,999
201 N 13th Street, Olean, NY 14760
Residential, Olean, NY
Property Size2,064 SF
Lot Size0.08 Acres
Price / SF$67.83
Days on Market2
Property Features for 201 N 13th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 2, Basement, Bedroom 3
Parking features
Garage
Patio and Porch features
Patio, Porch, Deck
Interior features
CentralVacuum
Exterior features
Deck, EnclosedPorch, Porch, Patio
Appliances
GasWaterHeater
Lot features
Corner Lot, Rectangular, Rectangular Lot, Residential Lot
Elementary school
Washington West Elementary
High school
Olean Senior High
Elementary school district
Olean
Middle school district
Olean
High school district
Olean
Directions
Corner of N 13th and Washington Street
Subdivision
Olean-City-041200
Standard status
Active
APN
041200-094-064-0001-045-000-0000
Size
2,064 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
2640
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
central vacuum system
enclosed front porch
rear deck
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Varies, Laminate, Tile, Hardwood, Carpet
Building materials
ShakeSiding
Roof type
Membrane, Asphalt, Rubber
Listing Agency:
Howard Hanna Professionals - Olean
(716) 372-1155
Listed By:
Jade Swick · License #10401405266
(716) 307-6148
Added: Aug 28
Last Checked: Aug 29 at 5:06PM
MLS# R1710280
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.
Built in 1890, this duplex contains approximately 2,064 square feet across a three-bedroom main residence and a separate one-bedroom apartment. The primary unit includes two full bathrooms, an office, pantry, remodeled kitchen, basement laundry, central air, central vacuum, and hardwood flooring beneath carpet. The upper apartment adds a living or family room, full bathroom, and kitchen. Appliances convey with the main residence, including an electric convection oven, gas cooktop, microwave, refrigerator, and dishwasher; the apartment has a gas range and refrigerator.
The property occupies a 0.0824-acre corner lot and includes an enclosed front porch, rear deck, patio areas, and a detached one-car garage. A hot water tank was replaced in 2025, while electrical updates were completed in 2021. The home has one electric meter and one water meter, public water service, natural-gas forced-air heat, and central cooling. The upper unit has prior rental history, and the property would benefit from additional updating.
The property occupies a 0.0824-acre corner lot and includes an enclosed front porch, rear deck, patio areas, and a detached one-car garage. A hot water tank was replaced in 2025, while electrical updates were completed in 2021. The home has one electric meter and one water meter, public water service, natural-gas forced-air heat, and central cooling. The upper unit has prior rental history, and the property would benefit from additional updating.
Key Highlights
- Two‑unit layout with a three‑bedroom main residence and one‑bedroom upper apartment
- Approximately 2,064 square feet on a 0.0824‑acre corner lot
- Detached one‑car garage plus enclosed front porch, rear deck, and patio areas
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
Yes
Utilities to site
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 a three-bedroom main residence, separate one-bedroom apartment, updated systems, and outdoor living areas.
Where is this duplex located?
The property is located at 201 N 13th Street 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 layout with a three‑bedroom main residence and one‑bedroom upper apartment; Approximately 2,064 square feet on a 0.0824‑acre corner lot; Detached one‑car garage plus enclosed front porch, rear deck, and patio areas
