2 Red Oak Drive
About This Property
Welcome to this remarkable 5,514 sq. ft. home in Olean, NY, featuring 5 bedrooms, 3 full baths, and 3 gas fireplaces. Step into the beautiful foyer leading to a formal dining room, then continue to the spacious great room with a cozy fireplace, perfect for entertaining. The gourmet kitchen boasts granite countertops, an island, breakfast bar, induction stove top, double oven, wine cooler, chef's desk, and a large informal dining area with floor-to-ceiling windows. Off the kitchen, you'll find direct access to both the first-floor laundry and a hot tub room that opens to a double deck overlooking the pond. The main level also includes 2 bedrooms and a full bath. The second floor is dedicated to the primary suite, newly enhanced with a wall of windows that provide privacy and abundant natural light. This suite includes double walk-in closets, a bath with dual vanities, a soaking tub, and a separate shower. It also features a bonus room for crafts or an office, a sitting room with a fireplace overlooking the main level, and a private balcony.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 9, 2025 | Sold | ||
| Sold | |||
| Feb 25, 2025 | In contract | - | |
| In contract | |||
| Feb 12, 2025 | Relisted | $445,000 | |
| Relisted | |||
| Aug 24, 2024 | In contract | - | |
| In contract | |||
| Apr 4, 2024 | Listed by Landquest Inc. | $445,000 | |
| Listed by Landquest Inc. | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017