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Olean 14760
224 S 16th Street
$69,000
● House - Off Market

224 S 16th Street

Olean, NY 14760
bedrooms
2 Beds
bathrooms
2 Baths
square feet
1,120 Ft²
$624
Est. Monthly

About This Property

Discover the potential in this charming 2-bedroom, 2-full-bath home featuring beautiful hardwood floors and granite countertops that bring warmth and modern appeal to the open floor plan. The layout offers a bright living area that flows smoothly into the kitchen and dining spaces, creating an easy, comfortable feel throughout.

One of the property's standout features is the amazing two-car garage, perfect for parking, storage, or hobby space-an amenity that adds tremendous value.

Please note: the home does require significant foundational repair, making this an excellent opportunity for an investor, contractor, or buyer looking to add equity with renovations. Due to the scope of the work, only strong 20% conventional financing or cash offers can be considered.

With appealing finishes, flexible living space, and a great garage, this home has incredible upside for the right buyer. Bring your vision and make it your next project!
Unit Size
1,120 Ft²
Days on Market
133 days
Land Size
0.12 acres
Price per sqft
$62
Property Type
House
Property Taxes
$281
HOA Dues
-
Year Built
1940

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Last updated: 6 months ago (NYSAMLS #R1651751)

Price History

Date / Event Date Event Price
Apr 2, 2026 Sold
Sold
Mar 6, 2026 In contract -
In contract
Dec 5, 2025 Price Decreased $69,900
↓ $20K (22.3%)
Price Decreased
Nov 20, 2025 Listed by Howard Hanna Professionals - Olean $89,900
Listed by Howard Hanna Professionals - Olean

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1940
  • Effective Year Built: 1940
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 1
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 896
  • Parking Space Count: 4
  • Patio Type: 0
  • Porch Type: 6
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,075
  • Lot Size Depth Feet: 1,450
  • Lot Size Frontage Feet: 350
  • Total Building Area: 1,120
  • Building Area: 1,120
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 24
  • Heated Square Feet: 1,120
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000116
  • Standard Land Use Code: 1001
  • County Land Use Code: 210

Neighborhood

  • School District Name: Olean City School District
  • School Tax School District: OLEAN CITY
  • Census Tract: 961600

Zoning

  • Zoning: R3

Geography

  • Account Number: 048875
  • District: 041200
  • Section: 94.63
  • Parcel: 041200 94.063-5-48
  • Block: 5
  • Lot: 48.000
  • Municipality: OLEAN
  • Latitude: 42.0756
  • Longitude: -78.4496

    Address

  • Full Address: 224 S 16th St
  • Address - House Number: 224
  • Street Direction: S
  • Address - Street Name: 16th
  • Address - Suffix Type: St
  • State: NY
  • City Name: Olean
  • Carrier Code: C006
  • 4-Digit Zip Code: 3320
  • Zip Code: 14760

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $167,538
  • Tax Rate Code Area: 041200

    Appraisal Valuation

  • Standard Deviation: 0.1552
  • Valuation Date: Jan 31, 2024
  • Confidence Score: 68
  • Final Value: 101,813
  • High Value: 117,617
  • Low Value: 86,008

    Market Valuation

  • Market Total Value: $76,923
  • Market Land Value: $6,026
  • Market Improvement Value: $70,897

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $60,000
  • Assessed Land Value: $4,700
  • Assessed Improvements Value: $55,300
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Olean


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Frequently Asked Questions

When was property at 224 South 16th Street built and last sold?
The property at 224 South 16th Street was built in 1940 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 224 South 16th Street is $0.
What are some comparable homes to 224 South 16th Street?
There are currently no comparable homes to 224 South 16th Street.