We demonstrate a computationally-efficient optical coherence elastography (OCE) method based on fringe washout. By introducing ultrasound in alternating depth profile, we can obtain information on the mechanical properties of a sample within acquisition of a single image. This can be achieved by simply comparing the intensity in adjacent depth profiles in order to quantify the degree of fringe washout. Phantom agar samples with various densities were measured and quantified by our OCE technique, the correlation to Young’s modulus measurement by atomic force micrscopy (AFM) were observed. Knee cartilage samples of monoiodo acetate-induced arthiritis (MIA) rat models were utilized to replicate cartilage damages where our proposed OCE technique along with intensity and birefringence analyses and AFM measurements were applied. The results indicate that our OCE technique shows a correlation to the techniques as polarization-sensitive OCT, AFM Young’s modulus measurements and histology were promising. Our OCE is applicable to any of existing OCT systems and demonstrated to be computationally-efficient.