Unlock the potential of this exceptional multi-faceted property, offering immediate rental income, a move-in ready primary residence, and substantial land value. The centerpiece is a fully renovated single-family home featuring three bedrooms (with potential for a 4th) and a modernized full bath. Designed for longevity and low maintenance, the house underwent a complete renovation 8 years ago, including new wiring, heating system, roof, siding, windows, and partial foundation work. The first-floor laundry and two main-level bedrooms offer convenient single-level living. The investment portfolio also includes a 1994 single-wide mobile home (3 bed/1 bath), providing a second stream of rental income. Both dwellings are currently occupied by tenants and equipped with independent water softeners. (Tax ID #20-001-118-02A) Beyond the homes lies 58.75 acres (Tax ID #20-001-118-01) of expansive land enrolled in the Clean & Green program for tax efficiency. This parcel is not just scenic; it also holds significant tangible value, with an official March 2025 timber estimate of $35,000– $40,000 for the standing timber. Whether you are an investor seeking a diversified asset or an owner-occupant looking for a homestead that pays for itself, this property delivers. This property is conveniently located 33 minutes from Allegheny National Forest, 43 minutes from Holiday Valley in Ellicottville, about one hour from Cherry Springs State Park Astronomy Observation, and just 20 minutes South of Olean. This location is not as far out as it feels.
Multi-familyProperty Type
1930Year Built
62.5 acresLot Size
$211Price/Sq.Ft.
2 spacesParking
Listed by Paul Pezzimenti• Howard Hanna Professionals - Olean
•716-372-1155 (broker)
•professionals-olean@howardhanna.com (broker)
Listed by Nicole Roche• Howard Hanna Professionals - Olean
•716-372-1155 (broker)
•professionals-olean@howardhanna.com (broker)
Contact: 716-378-7039
Bought with Nancy Rathbun• Howard Hanna Professionals - Smethport
Unlock the potential of this versatile property offering immediate rental income, a move-in-ready primary residence, and substantial land value. The fully renovated single-family home features three bedrooms (with potential for a fourth), a modernized full bath, first-floor laundry, and two main-level bedrooms for convenient single-floor living. Renovated approximately 8 years ago, updates include new wiring, heating system, roof, siding, windows, and partial foundation work. A 1994 single-wide mobile home (3 bed/1 bath) provides a second income stream; both dwellings are tenant-occupied and have separate water softeners (Tax ID #20-001-118-02A). The offering also includes 58.75 acres enrolled in Clean & Green (Tax ID #20-001-118-01) with an estimated $35,000–$40,000 timber value (March 2025). Conveniently located 20 minutes south of Olean, 33 minutes from Allegheny National Forest, and within an hour of Holiday Valley and Cherry Springs, offering privacy without true remoteness.
UNYREIS #R1655499
Apr 1, 2026
Sold
$280,000
$211/sq ft
Feb 2, 2026
Pending
—
Dec 22, 2025
Listed
$334,900
$253/sq ft
UNYREIS #R1654698
Feb 2, 2026
Pending
—
Jan 16, 2026
Listing Removed
—
Dec 22, 2025
Listed
$334,900
$253/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$1,213 (+3.5%)
$12,950 + $19,470
$32,420
2024
$1,173 (+2.2%)
$12,950 + $19,470
$32,420
2023
$1,147 (+1.6%)
$12,950 + $19,470
$32,420
2022
$1,129 (+0.8%)
$12,950 + $19,470
$32,420
2021
$1,120
$12,950 + $19,470
$32,420
2020
$1,120 (+5.3%)
$12,950 + $19,470
$32,420
2019
$1,063 (+1.7%)
$12,950 + $19,470
$32,420
2018
$1,045
$12,950 + $19,470
$32,420
2017
$1,045 (+10.7%)
$12,950 + $19,470
$32,420
2015
$944 (+1.8%)
$12,950 + $19,470
$32,420
2014
$927
$12,950 + $19,470
$32,420
Public record
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
3.75 Acres
Year renovated
—
Sq. Ft.
1,326
Year built
1930
Style
Other
County
McKean County
APN
20,001.-118-02.
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 26, 2026.
Property details
Parking
Parking
Features: Gravel, Parking Available, Two Or More Spaces
Interior
Virtual Tour
Bathroom Information
# of Full Bathrooms: 2
Room Information
Has Basement
Basement Information: Full
Equipment
Appliances: Electric Water Heater, Water Softener Owned
Interior Features
Flooring: Carpet, Varies, Vinyl
Other Features: Ceiling Fan(s)
Exterior
Building Information
Stories (Total): 1
Year Built Details: Existing
Roof Details: Metal
Construction Details: Vinyl Siding, Copper Plumbing, PEX Plumbing
Exterior Features
Patio And Porch Features: Covered, Porch
Lot Information
Lot Size Area: 62.5
Lot Size Acres: 62.5
Lot Size Dimensions: 2670X1900
Lot Features: Rectangular, Rectangular Lot, Secluded, Wooded
Waterfront Features: River Access, Stream
Property Information
Foundation Details: Block, Poured
Resale
Financial
Assessments and Fees
Assessed Value: $47,520
Tax Information
Annual Tax Amount: $1,797
Rental Information
Owner Pays: Water
Rent Includes: Water
Utilities
Utility Information
Utilities: Cable Available, Electricity Connected, High Speed Internet Available
Electric: Circuit Breakers
Sewer: Holding Tank
Water Source: Well
Heating & Cooling
Has Heating
Heating: Gas, Forced Air
Location
Multi Unit Information
# Of Units Total: 2
# Of Units In Community: 2
# Of Separate Gas Meters: 2
# Of Separate Electric Meters: 2
Multi Unit Financial Information
Gross Income: $18,000
Operating Expense Includes: Water/Sewer
Unit Type 1
Unit Description: Oven/ Range,Refrigerator,Dining Area With Living Room,Eat-In Kitchen,Laundry-In Unit,Living Room
# of Bedrooms: 3
# of Bathrooms Total: 1
# of Full Bathrooms: 1
Total Rent: $650
Actual Rent: $650
Actual Rent Range: 650
Unit Type 2
Unit Description: Dishwasher,Oven/ Range,Refrigerator,Dining Area With Kitchen,Laundry-In Unit,Living Room,Porch
# of Bedrooms: 3
# of Bathrooms Total: 1
# of Full Bathrooms: 1
Total Rent: $850
Actual Rent: $850
Actual Rent Range: 850
Public facts
Beds: —
Baths: —
Sq. Ft.: 1,326
Stories: —
Lot Size: 3.75 acres
Style: Other
Year Built: 1930
Year Renovated: —
County: McKean County
APN: 20,001.-118-02.
Home facts updated by county records on Aug 26, 2026
Around this home
Schools
Otto-Eldred El School
Public PreK-6 • Assigned • 4.2mi
7/10
Otto-Eldred Junior-Senior High School
Public 7-12 • Assigned • 4.5mi
6/10
Provided by GreatSchools
Climate risks
7/10 Flood Factor
Estimated 80%+ chance of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
1/10 Heat Factor
7 days above 89° expected this year, 17 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
1/10 Air Factor
0 unhealthy days expected this year, 0 days in 30 years
Provided by First Street
Historical weather
Eldred, PA • 16731
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.