NOT LISTED FOR SALE

408 N 8th St Olean, NY 14760

Estimated Value: $107,000 - $124,928

4 Beds
2 Baths
1,762 Sq Ft
$67/Sq Ft Est. Value

Last Sold August 27, 2021

Last sale price $98,900 $56 Per Sq Ft

Est. 19% increase in value since last sale

Current estimated payment $782/month

5 Days on Market

About This Home

As of August 2021

This fantastic double (2bed 1 bath/ 2bed 1 bath) has been precisely maintained by its owner. 408 features a dining area off of the kitchen with an updated downstairs bathroom and two good-sized bedrooms upstairs - a stackable washer dryer unit. 408 1/2 features a dining area off of the kitchen with an amazing bathroom upstairs. Larger bedroom and a smaller bedroom that could be multi-use. Bedroom/office - this unit has laundry first floor. All utilities are seperate. The property sits in a very convenient location where there's an option of a walk, bike, or drive. Rental income has the potential to be much higher.

Last Agent to Sell the Property

Amy Henzel

Listing by ERA Team VP Real Estate License #10401317441 Listed on: 05/29/2021

ERA Team VP Real Estate

Last Buyer's Agent

Carol Thomas

Listing by Howard Hanna Professionals - Ellicottville License #30TH0755390

Howard Hanna Professionals - Ellicottville

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,613

Year Built

  • Built in 1892

Lot Details

  • 6,400 Sq Ft Lot
  • Lot Dimensions are 128 x 50

Parking

  • Stone Driveway

Home Design

  • Block Foundation
  • Asphalt Roof
  • Stucco

Interior Spaces

  • 1,762 Sq Ft Home
  • 2-Story Property
  • Partial Basement

Flooring

  • Wall to Wall Carpet
  • Tile

Schools

  • Olean Middle School

Utilities

  • Forced Air Cooling System
  • Multiple Heating Units
  • Heating System Uses Gas
  • Gas Water Heater

Listing and Financial Details

  • Rent includes no utilities
  • Tax Lot 20
  • Assessor Parcel Number 041200-094-056-0005-020-000-0000

Community Details

Overview

  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,613

Year Built

Built in 1892

Lot Details

0

Listing Details

  • NY Swis Code: Olean-City-041200
  • Total Assessed Value: 48000
  • Foundation Description: Block
  • Listing Type: Exclusive Right To Sell
  • Lot Dimension Depth: 128
  • Lot Dimension Front: 50
  • Lot Information: Neighborhood Street, Primary Road
  • Lot Number: 20
  • Nearest Cross Street: Wayne Street
  • Number of Stories: 2.0000
  • Property Type: Multi-Family Res (2-4) units
  • Ratio Close Price By Acres: 673247.11
  • Ratio Close Price By Sq Ft: 56.13
  • Ratio List Price By Acres: 673247.11
  • Ratio List Price By Sq Ft: 56.13
  • Regional Board Code: Buffalo
  • Rent Includes: No Utilities
  • Roof Description: Asphalt
  • School Tax: 1260
  • Sub Board Code: Buffalo
  • Type of Residence: 2 Unit, Side by Side
  • Type of Sale: Normal
  • Year Built Description: Existing
  • Lot Sq Ft: 6400
  • Age of Building: 130
  • Year Built: 1892
  • Above Grade Finished Sq Ft: 1762
  • Directions To Property: From Wayne Street turn on North 8th.
  • Sq Ft Total Pub: 1762
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1892

Interior Features

  • Additional Interior Features: Laundry- Separate Hook ups- Some, Storage
  • Basement Description: Partial
  • Floor Description: Tile-Some, Wall To Wall Carpet-Some
  • Total Sq Ft: 1762

Exterior Features

  • Construction: Aluminum/Steel, Stucco
  • Number of Acres: 0.1469

Garage/Parking

  • Number of Electric Meters: 2
  • Parking Driveway: 2 or More Spaces, Stone/Gravel

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
  • Middle School: Olean Middle

Lot Info

  • Parcel Number: 041200-094-056-0005-020-000-0000

Rental Info

  • Certificate of Occupancy: Not Supplied

Multi Family

  • Total Number Of Apartments: 2

Tax Info

  • Total Taxes: 2613

MLS Schools

  • Middle School Name: Olean Middle
  • School District Name: Olean

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 29, 2021
Closed on
Aug 27, 2021
Sold by
Crouch Jeffrey and Crouch Anne
Bought by
Bestine Ashley J
Seller's Agent
Amy Henzel
ERA Team VP Real Estate
Buyer's Agent
Carol Thomas
Howard Hanna Professionals - Ellicottville
List Price
$98,900
Sold Price
$98,900
Current Estimated Value
$117,732

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$18,832
Avg. Annual Appreciation
4.19%
Original Mortgage
$79,100
Outstanding Balance
$72,755
Interest Rate
2.8%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$44,181

Purchase Details

Closed on
Dec 19, 2008
Sold by
Mak Fundraising
Bought by
Crouch Jeffrey

Purchase Details

Closed on
May 14, 2004
Sold by
Magro Charles
Bought by
Mak Fundraising
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Bestine Ashley J $99,000 None Available
Crouch Jeffrey $10,500 Gregory E Shemeld
Mak Fundraising $43,000 Daniel R. Palumbo
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bestine Ashley J $79,100
Previous Owner Crouch Jeffrey D $52,500
Previous Owner Crouch Jeffrey D $34,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/27/2021 08/27/21 Sold $98,900 0.0% $56 / Sq Ft
06/03/2021 06/03/21 Pending -- -- --
05/29/2021 05/29/21 For Sale $98,900 -- $56 / Sq Ft
Source: Western New York Real Estate Information Services (WNYREIS)

Tax History Compared to Growth

Source: Public Records

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
2024 $1,925 $51,000 $4,200 $46,800
2023 $1,920 $51,000 $4,200 $46,800
2022 $1,833 $48,000 $4,200 $43,800
2021 $1,886 $48,000 $4,200 $43,800
2020 $4,100 $48,000 $4,200 $43,800
2019 $1,254 $48,000 $4,200 $43,800
2018 $4,006 $48,000 $4,200 $43,800
2017 $1,946 $48,000 $4,200 $43,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Western New York Real Estate Information Services (WNYREIS)

MLS Number: B1340183

Western New York Real Estate Information Services (WNYREIS)

APN: 041200-094-056-0005-020-000-0000