$110,000
SOLD AUG 22, 2024

502 N 8th St Olean, NY 14760

4 Beds
2 Baths
1,910 Sq Ft
6,400 Sq Ft Lot

Recently Sold

$58 Per Sq Ft

17% Below List Price

49 Days on Market

About This Home

As of August 2024

Great rental property, Both units are rented out. Downstairs is partially furnished and has been redone with all new flooring, kitchen fixed up with new backsplash, replacement windows... This is turn key and brings in $1350 a month. It is a 2 bedroom, one bath unit. The upstairs has also been fixed up and brings in $900 a month rent. It has 2 nice size bedrooms and 1 bath. These units are tastefully done and have laundry hookups in each unit. The location is outstanding, close to the YMCA, Bicycle trail, stores, schools... Off street parking. Great Investment property!

Last Agent to Sell the Property

Karen Callahan

Listing by RE/MAX On Point Brokerage Phone: 716-373-7325 License #10401294365

RE/MAX On Point

Last Buyer's Agent

Paul Pezzimenti

Listing by Howard Hanna Professionals License #10301214758

Howard Hanna Professionals

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,986

Year Built

  • Built in 1910

Lot Details

  • 6,400 Sq Ft Lot
  • Lot Dimensions are 50x128

Parking

  • Parking Available

Home Design

  • Vinyl Siding

Interior Spaces

  • 1,910 Sq Ft Home
  • 2-Story Property
  • Partial Basement

Flooring

  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas
  • Gas Water Heater

Community Details

  • 2 Units
  • 2 Separate Gas Meters

Listing and Financial Details

  • Tenant pays for all utilities
  • Tax Lot 1
  • Assessor Parcel Number 041200-094-048-0002-001-001-0000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,986

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Property Type: Residential
  • Year Built: 1910
  • Attribution Contact: 716-373-7325
  • Lot Features: Residential Lot
  • Road Frontage Type: City Street
  • Directions: Take State St. to Wayne. It is on the corner of N. 8th and Wayne St.
  • Flooring: Carpet, Tile, Varies, Vinyl
  • Unit Levels: Two
  • Year Built Details: Existing
  • ResoBuildingAreaSource: Assessor
  • Special Features: None

Interior Features

  • Appliances: Gas Water Heater
  • Basement: Partial
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 4
  • Stories: 2
  • Stories: 2

Exterior Features

  • Acres: 0.1469
  • Waterfront: No
  • Construction Type: Vinyl Siding

Garage/Parking

  • Parking Features: Parking Available

Utilities

  • Heating: Gas, Forced Air
  • HeatingYN: Yes
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Olean

Lot Info

  • Parcel Number: 041200-094-048-0002-001-001-0000
  • Lot Dimensions: 50X128
  • Lot Size Sq Ft: 6400.0
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Number Of Units In Community: 2
  • Number Of Units Total: 2
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2

Tax Info

  • Tax Annual Amount: 1986.0
  • Tax Lot: 1

Map

Range of Values:

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Average Value
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/22/2024 08/22/24 Sold $110,000 -16.7% $58 / Sq Ft
07/03/2024 07/03/24 Pending -- -- --
05/14/2024 05/14/24 For Sale $132,000 -- $69 / Sq Ft
Source: Western New York Real Estate Information Services (WNYREIS)

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 $2,349 $37,000 $4,200 $32,800
2023 $1,393 $37,000 $4,200 $32,800
2022 $1,413 $37,000 $4,200 $32,800
2021 $472 $37,000 $4,200 $32,800
2020 $555 $37,000 $4,200 $32,800
2019 $555 $37,000 $4,200 $32,800
2018 $1,500 $37,000 $4,200 $32,800
2017 $1,500 $37,000 $4,200 $32,800
2016 $1,483 $37,000 $4,200 $32,800
2015 -- $37,000 $4,200 $32,800
2014 -- $37,000 $4,200 $32,800
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $88,000 Purchase Money Mortgage
Previous Owner $40,000 Credit Line Revolving
Source: Public Records

Deed History

Date Type Sale Price Title Company
Warranty Deed $110,000 None Available
Warranty Deed $27,500 None Available
Warranty Deed $157,000 None Available
Warranty Deed $157,000 None Available
Interfamily Deed Transfer -- Daniel A. Derose
Interfamily Deed Transfer -- Daniel A. Derose
Deed $48,500 Daniel R Palumbo
Deed $48,500 Daniel R Palumbo
Source: Public Records

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

MLS Number: B1537033

Western New York Real Estate Information Services (WNYREIS)

APN: 041200-094-048-0002-001-000-0000