1675 Manzanita Ave #93 · Chico, CA 95926

$78,500

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 57 Days on market

Built 1978 $55/sqft · 17% above area Est $71k · 10% over

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• ARV discount +3.0/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a contractor's own home and it is "cherried" out!! You have got to see it to believe it! It does not look like a mobile home! It is perfect for a person who likes privacy! It is tucked away in a great location! The second bedroom has been converted to an office. This place is so different it is worth the look!

Key facts

• Charming front porch
• Spacious kitchen
• 2 parking spots

Tags

• TWO GENEROUS LIVING AREAS
• CHARMING FRONT PORCH
• SPACIOUS KITCHEN
• STAINLESS STEEL APPLIANCES
• DEDICATED EATING AREA
• NEW FLOORING THROUGHOUT

Property features AI

Finance

• Other: Manager approval may be required; Pets allowed: contact management
• Financial info: Monthly land lease fee (park) — amount listed separately
• HOA & community: Senior community; Association amenities include pool, clubhouse, common RV parking, and spa; Community setting: Suburban; Located in Pleasant Valley Mobile Home Park (land lease community)

Exterior

• Parking: Attached carport with 2 spaces; Park offers common RV parking
• Utilities: Natural gas connected; Electricity connected; Water connected (District/Public); Public sewer
• Home design: Single-story mobile home (Double-wide); Turnkey condition; Mobile model: Buddy; Mobile dimensions approximately 24' x 64'; Has a view; Entry level at grade
• Construction: Two storage sheds on property; Living area per public records; One total story
• Exterior features: Awning; Covered patio; Front porch; Deck; Association pool; Association spa; Has patio

Interior

• Kitchen: Kitchen open to family room; Kitchen island; Dishwasher; Garbage disposal; Electric range; Refrigerator; Freezer; Vented exhaust fan; Gas water heater
• Bedrooms: Primary bedroom on main floor; All bedrooms on ground level
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms; Bathtub; Walk-in shower; Shower in tub; Vanity area
• Heating & cooling: Central cooling; Central furnace heating
• Interior features: Built-in cabinetry and shelving; Ceiling fans; Blinds; One-level home; Association spa
• Laundry & utility: Laundry in closet; Washer included; Dryer included; 220V outlet in laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $78k.

Deal economics

• At list price, monthly cash flow is $996 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $76k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 2.6% in Chico — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#195 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A-; Watch: employment C-, crime F, cost of living F.
• Chico Unified (urban): math 40% / reading 70% proficiency, ranked #117 of 517 in CA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+4.0%/yr); 90 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).
• This rent runs 37% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $543 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Butte County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $78k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wildfire risk; extreme-heat days projected 4→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $76,145 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.42% ✓
• Cap rate: 21.52%
• Cash-on-cash: 54.40%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (median comp): $71,428
• List price: $78,500
• Delta: 9.90%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1675 Manzanita Ave #82	0.00mi	2/2.0	1,440 (0%)	5mo	$107,000	$74	96
1675 Manzanita Ave #32	0.00mi	2/2.0	1,440 (0%)	9mo	$79,900	$55	93
1675 Manzanita Ave #13	0.00mi	2/2.0	1,512 (+5%)	10mo	$45,000	$30	84
1675 Manzanita Ave #12	0.00mi	2/2.0	1,488 (+3%)	14mo	$75,000	$50	83
1595 Manzanita Ave #16	0.12mi	2/2.0	1,344 (-7%)	9mo	$70,000	$52	76
1675 Manzanita Ave #1	0.00mi	2/2.0	1,560 (+8%)	13mo	$95,000	$61	76
1675 Manzanita Ave #96	0.00mi	2/2.0	1,630 (+13%)	6mo	$45,000	$28	73
1595 Manzanita Ave #67	0.16mi	3/2.0 (+1)	1,440 (0%)	20mo	$67,900	$47	71
1675 Manzanita Ave #4	0.00mi	3/2.0 (+1)	1,320 (-8%)	18mo	$100,000	$76	66
1675 MANZANITA Ave #88	0.04mi	2/2.0	1,248 (-13%)	12mo	$75,000	$60	66
1595 Manzanita #48	0.11mi	3/2.0 (+1)	1,248 (-13%)	4mo	$65,000	$52	65
1595 Manzanita Ave #45	0.13mi	2/2.0	1,272 (-12%)	16mo	$112,500	$88	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 53.7%
• Equity multiple: 3.39×
• Total profit: $52,639
• Equity at exit: $11,705

10-year hold

• IRR: 59.2%
• Equity multiple: 7.16×
• Total profit: $135,505
• Equity at exit: $6,787

Cash invested: $21,980 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 95926

• Rents YoY: 4.0%
• Active inventory: 90
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,902 high
• Mortgage (P&I): −$412
• Tax from tax record: −$62 /mo · $741/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $996

Break-even live

Break-even rent $641

Max offer price $78,500

Occupancy floor 43%

Sensitivity live

Price	-10% $1,041	-5% $1,019	+0% $996	+5% $974	+10% $952
Rent	-10% $846	-5% $921	+0% $996	+5% $1,072	+10% $1,147
Rate	-1.0pp $1,036	-0.5pp $1,016	base $996	+0.5pp $976	+1.0pp $955

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $19,625
• Closing costs: $2,355
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
66 North Valley Ct Chico, CA	3.0	2.0	1126	$2,295	$2.04	21d	1	0.26mi
1754 Vallombrosa Ave Chico, CA	1.0	1.0	950	$1,000	$1.05	14d	1	0.58mi
1462 Manzanita Ave Unit 8 Chico, CA	3.0	1.5	1045	$1,650	$1.58	44d	1	0.60mi
1460 Manzanita Ave Unit 1 Chico, CA	3.0	1.5	1045	$1,650	$1.58	44d	1	0.62mi
2245 Ceanothus Ave Chico, CA	3.0	2.0	1600	$3,150	$1.97	14d	1	0.66mi
5 Alameda Park Cir Chico, CA	2.0	2.0	1452	$2,350	$1.62	44d	1	0.97mi
2581 California Park Dr Chico, CA	2.0	2.0	990	$1,650	$1.67	44d	1	1.03mi
1385 E Lindo Ave Chico, CA	2.0	1.0–2.0	958	$1,505	$1.57	14d	3	1.13mi
2833 Eaton Rd Chico, CA	1.0–2.0	1.0–2.0	999	$1,850	$1.85	14d	9	1.22mi
100 Sterling Oaks Dr Chico, CA	1.0–2.0	1.0–2.0	938	$1,935	$2.06	14d	6	1.22mi
860 Inyo St Chico, CA	3.0	1.0	1053	$2,150	$2.04	21d	1	1.25mi
23 Morning Rose Way Unit 1 Chico, CA	2.0	2.0	1145	$1,925	$1.68	44d	1	1.38mi
2777 Eaton Rd Chico, CA	1.0–2.0	1.0–2.0	790	$1,634	$2.07	14d	3	1.44mi
1880 Humboldt Rd Apt 19 Chico, CA	3.0	2.0	1230	$1,800	$1.46	44d	1	1.44mi
2 Lakeshore Ter Unit l Chico, CA	1.0	2.0	1300	$2,000	$1.54	44d	1	1.47mi

Listing history 22 events

1. 2026-06-19
   days on market $78,500 Active 57 DOM
2. 2026-06-18
   days on market $78,500 Active 56 DOM
3. 2026-06-17
   days on market $78,500 Active 55 DOM
4. 2026-06-16
   days on market $78,500 Active 54 DOM
5. 2026-06-15
   days on market $78,500 Active 53 DOM
6. 2026-06-14
   days on market $78,500 Active 51 DOM
7. 2026-06-13
   pricedays on market $78,500 Active 50 DOM
8. 2026-06-10
   days on market $82,500 Active 48 DOM
9. 2026-06-08
   days on market $82,500 Active 46 DOM
10. 2026-06-07
    days on market $82,500 Active 45 DOM
11. 2026-06-05
    days on market $82,500 Active 42 DOM
12. 2026-06-02
    days on market $82,500 Active 40 DOM
13. 2026-06-01
    days on market $82,500 Active 39 DOM
14. 2026-05-31
    days on market $82,500 Active 38 DOM
15. 2026-05-30
    days on market $82,500 Active 37 DOM
16. 2026-04-23
    listed $87,500 Active 1641-char remark
17. 2009-11-01
    soldstatus $24,500 334-char remark

    Show marketing remark (334 chars)

    This is a contractor's own home and it is "cherried" out!! You have got to see it to believe it! It does not look like a mobile home! It is perfect for a person who likes privacy! It is tucked away in a great location! The second bedroom has been converted to an office. This place is so different it is worth the look!

18. 2008-08-19
    listed $32,500 334-char remark

    Show marketing remark (334 chars)

    This is a contractor's own home and it is "cherried" out!! You have got to see it to believe it! It does not look like a mobile home! It is perfect for a person who likes privacy! It is tucked away in a great location! The second bedroom has been converted to an office. This place is so different it is worth the look!

19. 2008-03-21
    soldstatus $57,900

    Show marketing remark (110 chars)

    NICE LARGE 24X64 1536 SQ FT HOME IN QUIET AREA OF THE PARK-MUST BE 55 YRS+ AND PARK APPROVAL. KNOCK - LOCKBOX.

20. 2007-08-04
    listed $57,900

    Show marketing remark (110 chars)

    NICE LARGE 24X64 1536 SQ FT HOME IN QUIET AREA OF THE PARK-MUST BE 55 YRS+ AND PARK APPROVAL. KNOCK - LOCKBOX.

21. 2007-07-02
    historical
22. 2006-09-27
    listed $66,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $741 · $62/mo
• Projected year-2 tax: $741 · $62/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 4 d/yr ≥104°F today · 9 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 37 unhealthy d/yr today · 39 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,822
• − Mortgage interest: −$4,397
• − Property taxes: −$741
• − Insurance: −$392
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − Depreciation: −$2,284
• Taxable income: $11,357
• Est. tax owed @ 24.0%: −$2,726
• After-tax cash flow: $9,231/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Chico Unified
• NCES district ID: 0608370
• Math proficiency: 40% ▼ -2.00%
• Reading proficiency: 70% ▲ 14.00%
• Median HH income: $46,223
• Composite: 46.45/100
• National rank: #2443
• State rank: #117 of 517 in CA

Livability — Chico

• Score: 72/100
• State rank: #195
• US rank: #6332

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment C- Housing B Health & safety A- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chico, CA
• County: Butte County · 175,030 people
• City population: 117,007
• Metro: Chico, CA
• Population (ZIP): 40,567
• Household income: $61,920
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 3912.0

Population outlook (Butte County) Hauer SSP2

• Today (2025): 237,527 people
• By 2030: 243,804 · +2.6%
• By 2040: 253,899 · +6.9%
• By 2050: 262,561 · +10.5%
• By 2075: 283,709 · +19.4%
• By 2100: 282,689 · +19.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 20% Two or more races 13% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Italian 4% Portuguese 3% Lithuanian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 83% English-only · Spanish 10% Other Asian/Pacific 2% Chinese 1%

Political lean MEDSL · Butte

• 2024 margin: Toss-up / Even · D 46.8% · R 49.9% · Other 3.3%
• 2008→2024 swing: -5.5pp toward R · 2008: 2.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+1.7 2016: R+4.0 2012: R+3.9 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -453.39%
• Current HPI: 256.0261
• Rent YoY: ▲ 3.98%
• Metro: Chico, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+17.3% since first listed

9 events — show timeline

• 2026-06-12 Price Changed $78,500 CRMLS
• 2026-05-20 Price Changed $82,500 CRMLS
• 2026-04-23 Listed $87,500 CRMLS
• 2009-11-01 Sold (MLS) $24,500 CRMLS
• 2008-08-19 Listed $32,500 CRMLS
• 2008-03-21 Sold (MLS) $57,900 CRMLS
• 2007-08-04 Listed $57,900 CRMLS
• 2007-07-02 Listing Removed — CRMLS
• 2006-09-27 Listed $66,900 CRMLS

Property tax history

+7.4%/yr

Latest (2025): $741 · +6.6% YoY. Source: county tax records.