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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.
| DAYS ON MARKET | 5 | LAST UPDATED | 12/22/2025 |
|---|---|---|---|
| YEAR BUILT | 1930 | COMMUNITY | Eldred Township-700160 |
| COUNTY | McKean | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | Otto Eldred Elementary |
|---|---|
| Jr. High School | Otto Eldred Jr/Sr. High |
| High School | Otto Eldred Jr/Sr. High |
| ADDITIONAL DETAILS | |
| AIR | Ceiling Fan(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater, Water Heater, Water Softener Owned |
| AREA | Eldred Township-700160 |
| BASEMENT | Full, Yes |
| CONSTRUCTION | Vinyl Siding |
| HEAT | Forced Air, Natural Gas |
| HOA DUES | Multi Family |
| INTERIOR | Ceiling Fan(s) |
| LOT | 62.5 acre(s) |
| LOT DESCRIPTION | Rectangular Lot, Secluded, Wooded |
| LOT DIMENSIONS | 2670X1900 |
| PARKING | Gravel |
| SEWER | Holding Tank |
| STORIES | 1 |
| TAXES | 1797 |
| UTILITIES | Cable Available, Electricity Connected |
| WATER | Private, Well |
| WATERFRONT DESCRIPTION | River Access, Stream |
MORTGAGE CALCULATOR
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Listing provided by: Paul Pezzimenti, Howard Hanna Professionals - Olean, 716-378-7039
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