Two-Unit Duplex with Covered
For Sale
$134,900
306 Wayne Street, Olean, NY 14760
Recently updated interiors and separate entrances support flexible use of both residences.
Property Size1,741 SF
Price / SF$77.48
Days on Market55
Property Features for 306 Wayne Street
General Information
Standard status
Active
Size
1,741 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,487
Amenities
Balcony
Deck
Building Details
Building Size
1,741 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Howard Hanna Professionals - Olean
(716) 372-1155
Listed By:
Darrick Babb · License #10401398872
(585) 808-9074
Source:
Gentryrealtyproperties
Added: Sep 1
Changed: Oct 24
Last Checked: Oct 23 at 2:12PM
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 Professionals - Olean
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Investment Insights
Based on property information with market context.
This two-unit duplex in Olean contains 1,741 square feet and was built in 1900. Both residences have private covered porches, and the interiors have been updated with new flooring. The units are vacant, with no existing leases in place.
The property is located at 306 Wayne Street in Olean, New York. Its separate living spaces and porch access provide a distinct setup for a duplex property.
The property is located at 306 Wayne Street in Olean, New York. Its separate living spaces and porch access provide a distinct setup for a duplex property.
Key Highlights
- Two separate residential units, both currently vacant
- 1,741 square feet; built in 1900
- Each unit has its own covered porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,188
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,760
$223.8K
Cap Rate 7%
$159,829
$159.8K
Cap Rate 9%
$124,311
$124.3K
Market Conditions
NOI Build-Up for 1,741 SF
Gross rent
$17.8K $10.20/SF
− Vacancy
−$1.8K −$1.02/SF
EGI
$16.0K $9.18/SF
− OpEx
−$4.8K −$2.75/SF
NOI
$11.2K $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 Rate 5%
$223,760
Cap Rate 7%
$159,829
Cap Rate 9%
$124,311
Alternative Uses
Best Use
Multifamily LT 5
$159.8K
$139.9K – $186.5K
NOI $11,188 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$150.2K
$131.4K – $175.2K
NOI $10,514 @ 7.0% cap · market cap 7.79%
Theoretical Best
Healthcare Medical
$344.1K
$301.1K – $401.4K
NOI $24,086 @ 7.0% cap · market cap 17.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,048
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Recently updated interiors and separate entrances support flexible use of both residences.
Where is this duplex located?
The property is located at 306 Wayne Street Olean, NY.
What is the asking price?
The asking price for this property is $134,900.
What are key features of this property?
This property features: Two separate residential units, both currently vacant; 1,741 square feet; built in 1900; Each unit has its own covered porch
