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Olean 14760
538 Erie Street
$114,000
● House - Off Market

538 Erie Street

Olean, NY 14760
bedrooms
3 Beds
bathrooms
1 Bath
square feet
960 Ft²
$734
Est. Monthly
13.26%
Cap Rate

About This Property

This 3 bedroom ranch home is full of potential! Situated on a 80 x 90 lot, the home offers privacy as it is also located on a dead end neighborhood street. Cosmetic updates to make this place feel like home for you, don't miss out on the opportunity.
Unit Size
960 Ft²
Days on Market
181 days
Land Size
0.17 acres
Price per sqft
$121
Property Type
House
Property Taxes
$165
HOA Dues
-
Year Built
1989

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 12 months ago (NYSAMLS #R1608996)

Price History

Date / Event Date Event Price
Nov 19, 2025 Sold
Premium
Sold
Sep 21, 2025 In contract -
In contract
Aug 14, 2025 Relisted $115,900
Relisted
Aug 7, 2025 In contract -
In contract
Jul 18, 2025 Price Decreased $115,900
↓ $9K (7.3%)
Price Decreased
Show More

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1989
  • Effective Year Built: 1989
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 5
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 400
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,200
  • Lot Size Depth Feet: 900
  • Lot Size Frontage Feet: 800
  • Total Building Area: 960
  • Building Area: 960
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 960
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000165
  • 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: 961500

Zoning

  • Zoning: R3

Geography

  • Account Number: 013105
  • District: 041200
  • Section: 94.33
  • Parcel: 041200 94.033-2-11
  • Block: 2
  • Lot: 11.000
  • Municipality: OLEAN
  • Latitude: 42.0989
  • Longitude: -78.4288

    Address

  • Full Address: 538 Erie St
  • Address - House Number: 538
  • Address - Street Name: Erie
  • Address - Suffix Type: St
  • State: NY
  • City Name: Olean
  • Carrier Code: C014
  • 4-Digit Zip Code: 1406
  • Zip Code: 14760

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $100,216
  • Tax Rate Code Area: 041200

    Appraisal Valuation

  • Standard Deviation: 0.1533
  • Valuation Date: Jan 31, 2024
  • Confidence Score: 69
  • Final Value: 96,400
  • High Value: 111,179
  • Low Value: 81,620

    Market Valuation

  • Market Total Value: $46,013
  • Market Land Value: $7,051
  • Market Improvement Value: $38,962

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $35,890
  • Assessed Land Value: $5,500
  • Assessed Improvements Value: $30,390

    Sales

  • Current Sale Contract Date: Aug 29, 2002
  • Current Sale Recording Date: Sep 25, 2002
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: Sep 24, 2002
  • Previous Sale Contract Date: Aug 29, 2002
  • Previous Sale Amount: $49,200
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

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

About Olean

Stats & Trends

Median Asking:

$139,900

Sale Price/ft²

$85

Below Asking

0.05%

Average Days on Market

96

Average Home Size

1665 ft²

Average Home Age

108.5 years

Currently For Sale

44 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

Click here to view more rentals in the neighborhood.
NYSAMLS

Last Updated: 12 months ago
Data Source: NYSAMLSs, MLS# R1608996

Frequently Asked Questions

When was property at 538 Erie Street built and last sold?
The property at 538 Erie Street was built in 1989 and last sold on Aug 29, 2002 for $49,200.
How much is this home worth?
The estimated value of the home located at 538 Erie Street is $0.
What are some comparable homes to 538 Erie Street?
There are currently no comparable homes to 538 Erie Street.
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