NOT LISTED FOR SALE

501 Queen St Olean, NY 14760

Estimated Value: $73,042 - $100,000

5 Beds
2 Baths
1,570 Sq Ft
$57/Sq Ft Est. Value

Last Sold May 23, 2017

Last sale price $55,000 $35 Per Sq Ft

Est. 61% increase in value since last sale

Current estimated payment $560/month

1 Day on Market

Highlights

  • Finished Attic
  • Forced Air Cooling System
  • Wall to Wall Carpet
  • Corner Lot

About This Home

As of May 2017

Very nice two family with many updates. Newer roof, siding, hot water tanks and furnaces. Updated kitchen and baths. Pleasant neighborhood and great rental history.

Last Agent to Sell the Property

Thomas Butler

Listing by Southern Tier Realty Co. Inc. License #10311202991 Listed on: 02/23/2017

Last Buyer's Agent

Thomas Butler

Listing by Southern Tier Realty Co. Inc. License #10311202991 Listed on: 02/23/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,925

Year Built

  • Built in 1916

Lot Details

  • 7,500 Sq Ft Lot
  • Lot Dimensions are 150 x 50
  • Corner Lot

Home Design

  • Vinyl Construction Material

Interior Spaces

  • 1,570 Sq Ft Home
  • 2-Story Property
  • Walk-Out Basement
  • Finished Attic
  • Convection Oven

Flooring

  • Wall to Wall Carpet
  • Laminate

Laundry

  • Dryer
  • Washer

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number 041200-094-059-0006-053-000-0000

Community Details

Overview

  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,925

Year Built

Built in 1916

Lot Details

0

Listing Details

  • NY Swis Code: Olean-City-041200
  • Total Assessed Value: 54000
  • Listing Type: Exclusive Right To Sell
  • Lot Dimension Depth: 150
  • Lot Dimension Front: 50
  • Lot Information: Corner Lot
  • Nearest Cross Street: Prince
  • Number of Stories: 2.0000
  • Property Type: Multi-Family Res (2-4) units
  • Ratio Close Price By Acres: 319396.05
  • Ratio Close Price By Sq Ft: 35.03
  • Ratio List Price By Acres: 347851.34
  • Ratio List Price By Sq Ft: 38.15
  • Regional Board Code: Buffalo
  • School Tax: 1410
  • Sub Board Code: Buffalo
  • Type of Sale: Normal
  • Year Built Description: Existing
  • Lot Sq Ft: 7500
  • Age of Building: 106
  • Year Built: 1916
  • Directions To Property: Corner of Queen and Prince
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1916

Interior Features

  • Attic Description: Finished
  • Basement Description: Exterior Walkout
  • Floor Description: Laminate-Some, Wall To Wall Carpet-Some
  • Kitchen Appliances Included: Convection, Dryer, Refrigerator, Washer
  • Total Sq Ft: 1570

Exterior Features

  • Construction: Vinyl
  • Number of Acres: 0.1722

Garage/Parking

  • Number of Electric Meters: 2
  • Parking Driveway: 2 or More Spaces

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: 041200-094-059-0006-053-000-0000

Rental Info

  • Certificate of Occupancy: Negotiable

Multi Family

  • Total Number Of Apartments: 2

Tax Info

  • Total Taxes: 2925

MLS Schools

  • School District Name: Olean

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 16, 2017
Sold by
Elliott Arthur D
Bought by
Elliott Rentals Llc
Current Estimated Value
$88,761

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$44,000
Outstanding Balance
$23,816
Interest Rate
3.88%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan
Estimated Equity
$65,856

Purchase Details

Listed on
Feb 23, 2017
Closed on
Apr 17, 2017
Sold by
Mc Paar Rentals Llc
Bought by
Elliott Arthur D
Seller's Agent
Thomas Butler
Southern Tier Realty Co. Inc.
Buyer's Agent
Thomas Butler
Southern Tier Realty Co. Inc.
List Price
$59,900
Sold Price
$55,000
Premium/Discount to List
-$4,900
-8.18%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.03%
Original Mortgage
$44,000
Interest Rate
4.3%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 8, 2001
Sold by
Martello Michael A
Bought by
Paar Michael A

Purchase Details

Closed on
Nov 7, 2001
Sold by
Martello Michael A
Bought by
Paar Michael A
Source: Public Records

Range of Values:

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Average Value
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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
Elliott Rentals Llc -- None Available
Elliott Rentals Llc -- None Available
Elliott Arthur D $55,000 Brian C. Palumbo
Paar Michael A $46,250 Daniel Palumbo
Paar Michael A $46,500 Daniel Palumbo
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Elliott Rentals Llc $44,000
Closed Elliott Rentals Llc $44,000
Previous Owner Elliott Arthur D $44,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/23/2017 05/23/17 Sold $55,000 -8.2% $35 / Sq Ft
02/24/2017 02/24/17 Pending -- -- --
02/23/2017 02/23/17 For Sale $59,900 -- $38 / 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 $5,808 $54,000 $6,800 $47,200
2023 $2,033 $54,000 $6,800 $47,200
2022 $2,062 $54,000 $6,800 $47,200
2021 $2,122 $54,000 $6,800 $47,200
2020 $5,954 $54,000 $6,800 $47,200
2019 $2,018 $54,000 $6,800 $47,200
2018 $2,913 $54,000 $6,800 $47,200
2017 $4,674 $54,000 $6,800 $47,200
2016 $2,165 $54,000 $6,800 $47,200
2015 -- $54,000 $6,800 $47,200
2014 -- $54,000 $6,800 $47,200
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2017

    Thomas Butler

    Southern Tier Realty Co. Inc.

    (716) 378-7141

    27 in this area

    45 Total Sales

    Thomas Butler
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Map

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

MLS Number: B1027773

Western New York Real Estate Information Services (WNYREIS)

APN: 041200-094-059-0006-053-000-0000

New York Cattaraugus County Olean 14760

501 Queen St, Olean, NY

This home is located at 501 Queen St, Olean, NY 14760 since 23 February 2017 and is currently estimated at $88,761, approximately $56 per square foot. This property was built in 1916. 501 Queen St is a home located in Cattaraugus County with nearby schools including Olean Intermediate-Middle School, Olean Senior High School, and New Life Christian School.

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