314 N 2nd St

Olean, NY 14760

$130,000
Price
5
Beds
—
Baths
5,700 Sq. Ft.
$23 / Sq. Ft.
5,700
Sq. Ft.
$23
per Sq. Ft.
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Pending
Pending

Description

8-Unit Investment Opportunity! Strong Cash Flow Potential! Rare opportunity to purchase two multi-family properties totaling 8 units, to be sold together for $279,000 (approximately $35,000 per unit). The properties offer immediate income potential with room for growth. Current rents are below market, providing an opportunity for increased returns with future adjustments. Many units feature separate layouts, offering flexibility for tenants. The properties have seen numerous updates, including:
Metal...8-Unit Investment Opportunity! Strong Cash Flow Potential! Rare opportunity to purchase two multi-family properties totaling 8 units, to be sold together for $279,000 (approximately $35,000 per unit). The properties offer immediate income potential with room for growth. Current rents are below market, providing an opportunity for increased returns with future adjustments. Many units feature separate layouts, offering flexibility for tenants. The properties have seen numerous updates, including:

Metal roof (314) less than 1 year old

Roof (316) approximately 5 years old

There are currently two vacant, renovated units ready for occupancy, allowing for immediate lease-up or owner-occupant potential. Ideal opportunity for investors looking to expand their portfolio or for buyers seeking to offset living expenses by occupying one unit. Properties must be sold together (see MLS #R1667915 for additional property).

Property Details for 314 North 2nd Street

On Waterfront
No
Parking Description
Three Or More Spaces, No Garage
Nearest Cross Street
w. sullivan
LISTING UPDATED: 04/20/2026 11:29 AM

Property Details for 314 North 2nd Street

StatusPending
MLS #R1667935
Days on Market32
Taxes$5,052 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeMulti Family / Other
Year Built1900
Lot Size0.24 AC / 10,400 SF
CountyCattaraugus County
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Location

Listing Courtesy of EXP-Premier Listings Team
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Building Information for 314 North 2nd Street

Stories2Residences5Year Built1900Building Size-Lot Size0.24 AC / 10,400 SF

Payment Calculator

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$1,076 per month

30 year fixed, 6.46% Interest

Principal and Interest

$655

Property Taxes

$421

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 314 North 2nd Street

Summary
Location and General Information
  • Elementary School District: Olean
  • High School District: Olean
  • Middle Or Junior School District: Olean
  • Village: Not Applicable
  • Human YN: Yes
Parking
  • Garage Spaces per Apt: .00
  • Garage YN: No
Taxes and HOA Information
  • Area NYSWIS Code: Olean-City-041200
  • Tax Annual Amount: $5,052.00
Property
Lot Information
  • Building Area Total: 5700.0
  • Land Features: Rectangular, Rectangular Lot, Residential Lot
  • Num Of Acres: 0.2388
  • Lot Size Area: 0.2388
  • Lot Size Square Feet: 10400.0
  • Lot Size Units: Acres
  • Parcel Number: 041200-094-057-0005-016-000-0000
  • Road Frontage: City Street
  • Lot Number: 16
Property and Assessments
  • Property Condition: Resale
  • Senior Community YN: No
  • Assessed Value: $90,000
  • Year Built: 1900
  • Year Built Description: Existing
  • Property Sub Type Additional: Other
Utilities
  • Num Of Electric Meters: 5
  • Num Of Gas Meters: 5
  • Sewer Description: Connected
  • Utilities Available: Sewer Connected, Water Connected
  • Water Supply: Connected, Public
Interior and Exterior Features
Exterior Features
  • Community Features: None
  • Construction Materials: Vinyl Siding
  • Exterior Features: Blacktop Driveway
  • Roof Description: Metal
Interior Features
  • Appliances: Gas Water Heater
  • Basement Description: Dirt Floor
  • Num Of Possible Bedrooms: 5
  • Num Fireplaces Total Calculated: 0
  • Fireplace YN: No
  • Floor Description: Carpet, Laminate, Varies, Vinyl
  • Heating: Electric, Gas, Baseboard, Forced Air
  • Heating YN: Yes
  • Levels: Two
  • Sq Ft Total: 5700.0
  • Main Level Bathrooms: 0
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
  • Operating Expense Includes: Insurance, Maintenance, Water Sewer
  • Stories: 2
  • Stories Total: 2
Rental
Rental Information
  • Rent Includes: Water

Property History for 314 North 2nd Street

DateEvent & SourcePriceAppreciation
Apr 20, 2026

Pending

WNYREIS #R1667935

—
Apr 12, 2026

Price Change

WNYREIS #R1667935

$130,000—
Apr 7, 2026

Price Change

WNYREIS #R1667935

$134,500—
DateEvent & SourcePrice
04/20/2026

Pending

WNYREIS #R1667935

—
04/12/2026

Price Change

WNYREIS #R1667935

$130,000
04/07/2026

Price Change

WNYREIS #R1667935

$134,500

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 314 North 2nd Street

Taxable ValueLand$17,900Additions$72,100Total$90,000
Tax Record2024$3,398 ($283 / month)
Home Facts
Total Finished SqFt3,880 SqFtAbove Grade Finished SqFt3,880 SqFtUnfinished Basement SqFt1,820 SqFtStories2Lot Size10,400 SqFtStyleMulti-Family Res (5+ Units)Year Built1900CountyCATTARAUGUSAPN041200 94.057-5-16

Schools near 314 North 2nd Street

This home is within Olean City School District.
Rating
School
Type
Grades
Distance
Olean Middle School
Public - 3 to 8
Olean Senior High School
Public - 8 to 12
Washington West Elementary School
Public - PK to 3
East View Elementary School
Public - PK to 3
Rating
School
Distance
Olean Middle School
Public3 to 8

Olean Senior High School
Public8 to 12

Washington West Elementary School
PublicPK to 3

East View Elementary School
PublicPK to 3

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of EXP-Premier Listings Team

Based on information from one of the following Multiple Listing Services: WNYREIS and Greater Binghamton Association of REALTORS. Information being provided is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by WNYREIS and Greater Binghamton Association of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.