NOT LISTED FOR SALE

1097 Promised Land Rd Olean, NY 14760

Estimated Value: $102,000 - $146,050

4 Beds
2 Baths
2,232 Sq Ft
$55/Sq Ft Est. Value

Sale Details

Date Sold: January 10, 2023

Last sale price $77,500 $35 Per Sq Ft

Est. 59% increase in value since last sale

Current estimated payment $912 / mo

69 Days on Market

Highlights

  • 1.1 Acre Lot
  • Wood Flooring
  • Forced Air Heating System
  • Portville Elementary School Rated A-
  • Woodwork
  • Ceiling Fan

About This Home

As of January 2023

INCOME OPPORTUNITY AT GREAT PRICE! See this multifamily 2 unit located in a desirable area in the Portville School District. Separate utilities paid by tenants, separate entrances each with covered porches, long driveway for plenty of parking. Nice country-like setting. Furnaces for both units less than 2 yrs old, hot water tanks less than 7, appliances stay including separate washers and dryers for tenants. This one is a money maker, it won't last long!

Last Agent to Sell the Property

Sarah Hallberg

Listing by Lake Homes Realty Brokerage Phone: 716-499-1387 License #10401284655 Listed on: 07/21/2022

Lake Homes Realty

Last Buyer's Agent

John Dwaileebe

Listing by Howard Hanna Professionals - Olean License #40DW0994003

Howard Hanna Professionals - Olean

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,808

Year Built

  • Built in 1900

Lot Details

  • 1.1 Acre Lot
  • Lot Dimensions are 343x322
  • Rural Setting
  • Irregular Lot

Parking

  • Gravel Driveway

Home Design

  • Duplex
  • Stone Foundation
  • Frame Construction
  • Aluminum Siding
  • Steel Siding

Interior Spaces

  • 2,232 Sq Ft Home
  • 2-Story Property
  • Woodwork
  • Ceiling Fan
  • Window Treatments
  • Washer Hookup

Flooring

  • Wood
  • Carpet
  • Vinyl

Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Schools

  • Portville Elementary School
  • Portville Junior-Senior High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas
  • PEX Plumbing
  • Well
  • Gas Water Heater
  • Septic Tank

Listing and Financial Details

  • Tenant pays for all utilities
  • Tax Lot 13
  • Assessor Parcel Number 047489-104-001-0002-013-000-0000

Community Details

Overview

  • 2 Units

Building Details

  • 2 Separate Gas Meters
  • Operating Expense $2,800
  • Gross Income $16,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,808

Year Built

Built in 1900

Lot Details

1.1 Acres

Listing Details

  • Property Sub Type: Multi Family
  • Property Type: Residential
  • Year Built: 1900
  • Attribution Contact: 716-499-1387
  • ResoLaundryFeatures: Washer Hookup
  • Lot Features: Irregular Lot, Rural Lot
  • Directions: Take Rte 417 to Promised Land Road, is in the Westons Mills area. House is on the right just after Witherel Heights rd.
  • Architectural Style: Duplex
  • Flooring: Carpet, Hardwood, Varies, Vinyl
  • Interior Features: Ceiling Fan(s), Natural Woodwork, Window Treatments
  • Unit Levels: Two
  • Year Built Details: Existing
  • Special Features: None

Interior Features

  • Appliances: Gas Water Heater
  • Basement: Full, Walk-Out Access
  • Basement YN: Yes
  • Stories: 2
  • Stories: 2

Exterior Features

  • Acres: 1.1
  • Waterfront: No
  • Construction Type: Aluminum Siding, Frame, Steel Siding, PEX Plumbing
  • Foundation Details: Stone

Garage/Parking

  • Parking Features: Gravel, Two or More Spaces

Utilities

  • Heating: Gas, Forced Air
  • HeatingYN: Yes
  • Water Source: Well

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Portville
  • Ninth Grade High School: Portville Junior-Senior High
  • Middle Or Junior School: Other - See Remarks

Lot Info

  • Parcel Number: 047489-104-001-0002-013-000-0000
  • Lot Dimensions: 343X322
  • Lot Size Sq Ft: 47916.0
  • ResoLotSizeUnits: Acres
  • Zoning Description: Residential 2 Unit

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Number Of Units In Community: 2
  • Number Of Units Total: 2
  • Annual Gross Income: 16200.0
  • Annual Operating Expense: 2800.0
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2

Tax Info

  • Tax Annual Amount: 2808.0
  • Tax Lot: 13
  • Tax Other Annual Assessment Amount: 136.0

MLS Schools

  • Elementary School: Portville Elementary

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 21, 2022
Closed on
Dec 28, 2022
Sold by
Witherell Dana L and Mason Matthew
Bought by
Childs Jarrad T
Seller's Agent
Sarah Hallberg
Lake Homes Realty
Buyer's Agent
John Dwaileebe
Howard Hanna Professionals - Olean
List Price
$114,900
Sold Price
$77,500
Premium/Discount to List
-$37,400
-32.55%
Current Estimated Value
$123,013

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$45,513
Avg. Annual Appreciation
14.88%
Original Mortgage
$62,000
Outstanding Balance
$59,688
Interest Rate
6.61%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$63,325

Purchase Details

Closed on
Oct 10, 2018
Sold by
Witherell Dana
Bought by
Mason Matthew

Purchase Details

Closed on
Jul 13, 2018
Sold by
Witherell Dana
Bought by
Mason Matthew

Purchase Details

Closed on
Oct 23, 2001
Sold by
-Doro Witherell Richard G
Bought by
-Rosalie Witherell Dana L
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
Childs Jarrad T $77,500 None Available
Mason Matthew -- None Available
Mason Matthew -- None Available
Mason Matthew -- --
-Rosalie Witherell Dana L -- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open Childs Jarrad T $62,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/10/2023 01/10/23 Sold $77,500 -13.8% $35 / Sq Ft
09/28/2022 09/28/22 Pending -- -- --
08/30/2022 08/30/22 Price Changed $89,900 -10.0% $40 / Sq Ft
08/17/2022 08/17/22 Price Changed $99,900 -13.1% $45 / Sq Ft
07/21/2022 07/21/22 For Sale $114,900 -- $51 / Sq Ft
Source: Chautauqua-Cattaraugus Board of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,947 $68,500 $10,300 $58,200
2024 $2,907 $68,500 $10,300 $58,200
2023 $2,856 $68,500 $10,300 $58,200
2022 $2,749 $68,500 $10,300 $58,200
2021 $2,807 $68,500 $10,300 $58,200
2020 $2,821 $68,500 $10,300 $58,200
2019 $1,580 $68,500 $10,300 $58,200
2018 $2,854 $68,500 $10,300 $58,200
2017 $4,589 $68,500 $10,300 $58,200
2016 $2,741 $68,500 $10,300 $58,200
2015 -- $68,500 $10,300 $58,200
2014 -- $68,500 $10,300 $58,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Chautauqua-Cattaraugus Board of REALTORS®

MLS Number: R1422255

Chautauqua-Cattaraugus Board of REALTORS®

APN: 047489-104-001-0002-013-000-0000

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