Great income on this two unit duplex! Many updates including new furnace on one side and rebuilt furnace on the other, new dishwashers in both units, rebuilt back deck, and new plumbing. Nice layouts in both units and easy to rent. Low, low taxes! Wonderful return on investment!
Listing by JRS Morgan Realty LLCLicense #49MO0969814Listed on: 09/30/2014
Property Details
Home Type
Multi-Family
Year Built
Built in 1890
Lot Details
6,534 Sq Ft Lot
Lot Dimensions are 128 x 50
Home Design
Duplex
Interior Spaces
2,425 Sq Ft Home
2-Story Property
Basement Fills Entire Space Under The House
Flooring
Wood
Tile
Parking
No Garage
No Driveway
Location
Property is near a bus stop
Utilities
Forced Air Cooling System
Multiple Heating Units
Heating System Uses Gas
Gas Water Heater
Listing and Financial Details
Rent includes lawn maintenance, no utilities
Assessor Parcel Number 041200-094-056-0007-018-000-0000
Community Details
Overview
2 Units
Building Details
2 Separate Electric Meters
2 Separate Gas Meters
Operating Expense $600
Gross Income $12,600
Property Details
Home Type
Multi-Family
Year Built
Built in 1890
Lot Details
0
Listing Details
Age: 124
Annual Operating Expenses: 600
NY Swis Code: Olean-City-041200
Total Assessed Value: 15000
Gross Annual Income: 12600
Listing Type: Exclusive Right To Sell
Lot Dimension Depth: 128
Lot Dimension Front: 50
Lot Information: Near Bus Line, Neighborhood Street
L P Per Acre: 132666.6700
List Price per Sq Ft: 8.2061
Nearest Cross Street: West Sullivan
Number of Stories: 2.0000
Property Type: Multi-Family Res (2-4) units
Ratio Close Price By Acres: 106666.67
Ratio Close Price By Sq Ft: 6.60
Ratio List Price By Acres: 132666.67
Ratio List Price By Sq Ft: 8.21
Regional Board Code: Buffalo
Regional Board Number: 6375
Rent Includes: Lawn Maintenance, No Utilities
School Tax: 378
Sale Price List Price: 0.8040
S P Per Acre: 106666.6700
S P Per Sq Ft: 6.6000
Sub Board Code: Buffalo
Type of Residence: 2 Unit, Duplex, Side by Side
Type of Sale: Normal
Value Range Search Low Price: 19900.00
Year Built Description: Existing
Age of Building: 132
Year Built: 1890
Directions To Property: From W. Sullivan toward N. Union, Left on N. 7th home is first house in the right.
Special Features: None
Property Sub Type: MultiFamily
Stories: 2
Year Built: 1890
Interior Features
Attic Description: Crawl Space
Basement Description: Full
Floor Description: Tile-Some, Wood-Some
Kitchen Appliances Included: Negotiable
Number of Rooms: 11
Total Sq Ft: 2425
Exterior Features
Construction: Wood
Number of Acres: 0.1500
Garage/Parking
Garage Description: No Garage
Number of Electric Meters: 2
Parking Driveway: No Driveway
Utilities
Heating Fuel Description: Gas
Hvac Type: Forced Air
Number of Gas Meters: 2
Number of Heating Units: 2
Sewer Description: Sewer Connected
Water Heater Fuel: Gas
Schools
School District: Olean
Lot Info
Parcel Number: 041200-094-056-0007-018-000-0000
Rental Info
Certificate of Occupancy: Not Required
Multi Family
Total Number Of Apartments: 2
Tax Info
Total Taxes: 972
MLS Schools
School District Name: Olean
Ownership History
DateNameOwned ForOwner Type
Jan 2015 - PresentBarlett Linda10 Years and 4 Months
Private Individual
Purchase Details
Listed on
Sep 30, 2014
Closed on
Jan 12, 2015
Sold by
Equity Trust Company Custodian
Bought by
Barlett Linda
Seller's Agent
Stephanie Morgan
JRS Morgan Realty LLC
Buyer's Agent
Stephanie Morgan
JRS Morgan Realty LLC
List Price
$19,900
Sold Price
$16,000
Premium/Discount to List
-$3,900
-19.6%
Total Days on Market
21
Current Estimated Value
$87,014
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$71,014
Avg. Annual Appreciation
17.80%
Dec 2014 - Jan 2015Morgan James1 Month
Company
Purchase Details
Listed on
Sep 30, 2014
Closed on
Dec 31, 2014
Sold by
Equity Trust Company Custodian
Bought by
Morgan James
Seller's Agent
Stephanie Morgan
JRS Morgan Realty LLC
Buyer's Agent
Stephanie Morgan
JRS Morgan Realty LLC
List Price
$19,900
Sold Price
$16,000
Premium/Discount to List
-$3,900
-19.6%
Nov 2012 - Dec 2014Equity Trust Company Custodian F & B2 Years and 1 Month
Private Individual
Purchase Details
Listed on
Jul 28, 2011
Closed on
Nov 9, 2012
Sold by
Degeer Doug
Bought by
Equity Trust Company Custodian F & B
Seller's Agent
Jon Farleo
Howard Hanna Professionals
Buyer's Agent
Stephanie Morgan
JRS Morgan Realty LLC
List Price
$30,000
Sold Price
$15,000
Premium/Discount to List
-$15,000
-50%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.06%
Apr 2007 - Nov 2012Degeer Doug5 Years and 7 Months
Private Individual
Purchase Details
Closed on
Apr 13, 2007
Sold by
Rubino Michelina
Bought by
Degeer Doug
Range of Values:
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Average Value
Not Available
List Price
Sold Price
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Turnkey investment opportunity in the City of Olean. This upper/lower duplex is fully rented and ready for new ownership. The lower unit is currently leased at $750 per month to a local company that covers all utilities for the tenant. The lease includes a 60-day eviction clause, offering flexibility for future use. This property has been well maintained, with one side of the roof
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Prime Investment Opportunity in North Olean!Nestled in the heart of North Olean, this 3-unit property offers incredible potential for investors or owner-occupiers. Located just around the corner from Olean Intermediate Middle School and a short stroll to Downtown Olean, this property provides convenience and accessibility in a highly desirable area.Each unit features separate
Paul PezzimentiHoward Hanna Professionals
$79,900
4 Beds
2 Baths
1,738 Sq Ft
Great investment property two family home . set up a viewing today.
This is a fantastic investment opportunity! This well-maintained duplex offers two units with great potential. The downstairs unit is a spacious 2-bedroom, 1-bath, while the upper unit is a cozy 1-bedroom, 1-bath. Both units feature brand new stoves, refrigerators, and washer/dryer units for convenience. The property has seen numerous updates over the years, including renovated kitchens and
Source: Western New York Real Estate Information Services (WNYREIS)
Tax History Compared to Growth
Source: Public Records
Tax History
Year
Tax Paid
Tax AssessmentTax 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.
This home is located at 312 N 7th St, Olean, NY 14760 since 30 September 2014 and is currently estimated at $87,014, approximately $35 per square foot. This property was built in 1890. 312 N 7th St is a home located in Cattaraugus County with nearby schools including Olean Intermediate-Middle School, Olean Senior High School, and Southern Tier Catholic School.
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