$119,900
PENDING

514 3rd Ave Olean, NY 14760

Estimated payment $938/month

Total Views 4,378
5 Beds
2 Baths
2,274 Sq Ft
$53 Price per Sq Ft

Highlights

  • Property is near public transit
  • Forced Air Heating System
  • Rectangular Lot
  • Patio
  • High Speed Internet
  • Carpet

About This Home

Beautifully renovated duplex in a prime location near Olean General Hospital, making it a fantastic investment for an Airbnb, rental, or owner-occupied home. With a newer asphalt roof and a brand-new rubber roof on the flat portion, this property has been completely updated, featuring all-new electric, a brand-new hot water tank, and LVT flooring and carpet throughout. Both units are freshly painted and include newer vinyl windows, with the upstairs unit boasting a charming porch. The dry, spacious basement offers excellent storage or potential additional living space, while the newly roofed shed and blacktop driveway provide ample off-street parking. Situated in a cute, quiet neighborhood with new exterior flood lighting for added security and convenience, this duplex is an incredible opportunity. Its unbeatable location near the hospital makes it ideal for traveling medical professionals, short-term renters, or long-term tenants—don't miss out on this move-in-ready gem!

Listing Agent

Mason Meggo

Listing by HUNT Real Estate Corporation Brokerage Phone: 716-866-7604 License #10401392539 Listed on: 03/14/2025

HUNT Real Estate Corporation

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,590

Year Built

  • Built in 1900

Lot Details

  • 6,695 Sq Ft Lot
  • Lot Dimensions are 51x130
  • Rectangular Lot

Home Design

  • Duplex
  • Brick Exterior Construction
  • Poured Concrete
  • Vinyl Siding

Interior Spaces

  • 2,274 Sq Ft Home
  • 2-Story Property
  • Carpet

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 2 Full Bathrooms

Basement

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

Parking

  • 2 Parking Spaces
  • Parking Available
  • Paved Parking

Utilities

  • Forced Air Heating System
  • Space Heater
  • Heating System Uses Gas
  • PEX Plumbing
  • Gas Water Heater
  • High Speed Internet

Additional Features

  • Patio
  • Property is near public transit

Community Details

  • 2 Units
  • 2 Separate Gas Meters

Listing and Financial Details

  • Tax Lot 76
  • Assessor Parcel Number 041200-094-050-0003-076-000-0000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,590

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Property Type: Residential
  • Year Built: 1900
  • Attribution Contact: 716-866-7604
  • Lot Features: Near Public Transit, Rectangular, Residential Lot
  • Road Frontage Type: City Street
  • Directions: Main to Center to 3rd Ave
  • Architectural Style: Duplex
  • Flooring: Carpet, Luxury Vinyl, Varies
  • Unit Levels: Two
  • Year Built Details: Existing
  • Financial Info Electric: Fuses
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None

Interior Features

  • Appliances: Gas Water Heater
  • Basement: Full, Walk-Out Access
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 5
  • Stories: 2
  • Stories: 2

Exterior Features

  • Acres: 0.2
  • Waterfront: No
  • Construction Type: Brick, Other, Vinyl Siding, PEX Plumbing
  • Exterior Features: Patio
  • Foundation Details: Poured
  • Patio And Porch Features: Patio

Garage/Parking

  • Parking Features: Paved, Parking Available, Two or More Spaces

Utilities

  • Heating: Gas, Forced Air, Space Heater
  • HeatingYN: Yes
  • Utilities: High Speed Internet Available, Sewer Connected, Water Connected
  • Water Source: Connected, Public

Schools

  • Junior High Dist: Olean

Lot Info

  • Parcel Number: 041200-094-050-0003-076-000-0000
  • Lot Dimensions: 51X130
  • Lot Size Sq Ft: 6695.0
  • ResoLotSizeUnits: Acres
  • Zoning Description: Residential 2 Unit
  • 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: 3590.0
  • Tax Lot: 76

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $2,973 $55,000 $5,200 $49,800
2023 $2,071 $55,000 $5,200 $49,800
2022 $2,101 $55,000 $5,200 $49,800
2021 $2,161 $55,000 $5,200 $49,800
2020 $1,535 $55,000 $5,200 $49,800
2019 $826 $55,000 $5,200 $49,800
2018 $2,326 $55,000 $5,200 $49,800
2017 $1,553 $55,000 $5,200 $49,800
2016 $2,322 $55,000 $5,200 $49,800
2015 -- $55,000 $5,200 $49,800
2014 -- $55,000 $5,200 $49,800
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/26/2025 03/26/25 Pending -- -- --
03/14/2025 03/14/25 For Sale $119,900 -- $53 / Sq Ft
Source: Western New York Real Estate Information Services (WNYREIS)

Purchase History

Date Type Sale Price Title Company
Deed $125,000 None Available
Deed -- None Available
Warranty Deed $85,000 None Available
Deed $63,500 Daniel Palumbo
Deed $63,500 Daniel Palumbo
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $99,920 Purchase Money Mortgage
Previous Owner $180,000 Stand Alone Refi Refinance Of Original Loan
Previous Owner $54,400 Stand Alone Refi Refinance Of Original Loan
Previous Owner $56,030 FHA
Previous Owner $63,002 Purchase Money Mortgage
Source: Public Records

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

MLS Number: B1592848

Western New York Real Estate Information Services (WNYREIS)

APN: 041200-094-050-0003-076-000-0000