2050 Springfield · Chico, CA 95928

$160,000

2 bd · 2.0 ba · 4,024 sqft · Land public records · 73 Days on market

Built 1990 $40/sqft · 64% below area Est $181k · 12% under ↓ 11% since listing

---

Why this score? — see what drove the C+ 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 +21.7/30.0
• ARV discount +12.7/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained home located in a desirable senior community, conveniently close to Chico’s shopping, dining, and everyday services. Offering one of the largest floor plans in the park, this residence features generously sized living spaces throughout and a layout designed for both comfort and functionality. Have you been searching for a kitchen worthy of a true gourmet chef? The kitchen was thoughtfully updated in 2012 with a new subfloor, electric cooktop, and newer appliances, creating a space that is both practical and inviting. Abundant cabinetry and workspace make cooking feel effortless, whether you’re preparing a quiet dinner or hosting friends. The open floor plan is bright and welcoming, with large windows that fill the home with natural light. Both bedrooms are exceptionally spacious, offering proportions rarely found in park settings. The primary suite is a true retreat, featuring a large walk-in closet and an oversized en suite bathroom complete with an expansive soaking tub, perfect for unwinding at the end of the day. A second bedroom and full bath provide flexibility for guests, hobbies, or a home office. Additional improvements include a hot water heater approximately two years old, HVAC condenser replaced in 2025, and carpet approximately three years old, offering peace of mind for the next owner. Step outside to a nicely landscaped backyard and covered porch ideal for relaxing, morning coffee, or entertaining. The attached garage provides convenient parking along with extra storage space, and throughout the home you’ll find more storage than most would expect. The senior community park, per seller, offers a variety of social activities and events for residents, which may include holiday gatherings, parades, wine nights, and bingo. Buyer to verify all community amenities, rules, and availability of events. Come see why this spacious, light-filled home could be your next chapter.

Key facts

• 2 garage spots
• Community pool
• Built 1990

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $160k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (+3.4%/yr); 139 active listings in the ZIP; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).
• This rent runs 32% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $160k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.07% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.56%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $181,132
• List price: $160,000
• Delta: -11.67%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.43% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-9,555
• Equity at exit: $23,857

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $14,950
• Equity at exit: $13,834

Cash invested: $44,800 (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 95928

• Rents YoY: 3.4%
• Active inventory: 139
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,710 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $245

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 81%

Sensitivity live

Price	-10% $356	-5% $300	+0% $245	+5% $190	+10% $134
Rent	-10% $110	-5% $177	+0% $245	+5% $313	+10% $380
Rate	-1.0pp $326	-0.5pp $286	base $245	+0.5pp $204	+1.0pp $161

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-01
   days on market $160,000 Active 73 DOM
2. 2026-05-31
   days on market $160,000 Active 72 DOM
3. 2026-05-30
   days on market $160,000 Active 71 DOM
4. 2026-05-12
   price $160,000 1970-char remark

   Show marketing remark (1970 chars)

   Welcome to this beautifully maintained home located in a desirable senior community, conveniently close to Chico’s shopping, dining, and everyday services. Offering one of the largest floor plans in the park, this residence features generously sized living spaces throughout and a layout designed for both comfort and functionality. Have you been searching for a kitchen worthy of a true gourmet chef? The kitchen was thoughtfully updated in 2012 with a new subfloor, electric cooktop, and newer appliances, creating a space that is both practical and inviting. Abundant cabinetry and workspace make cooking feel effortless, whether you’re preparing a quiet dinner or hosting friends. The open floor plan is bright and welcoming, with large windows that fill the home with natural light. Both bedrooms are exceptionally spacious, offering proportions rarely found in park settings. The primary suite is a true retreat, featuring a large walk-in closet and an oversized en suite bathroom complete with an expansive soaking tub, perfect for unwinding at the end of the day. A second bedroom and full bath provide flexibility for guests, hobbies, or a home office. Additional improvements include a hot water heater approximately two years old, HVAC condenser replaced in 2025, and carpet approximately three years old, offering peace of mind for the next owner. Step outside to a nicely landscaped backyard and covered porch ideal for relaxing, morning coffee, or entertaining. The attached garage provides convenient parking along with extra storage space, and throughout the home you’ll find more storage than most would expect. The senior community park, per seller, offers a variety of social activities and events for residents, which may include holiday gatherings, parades, wine nights, and bingo. Buyer to verify all community amenities, rules, and availability of events. Come see why this spacious, light-filled home could be your next chapter.

5. 2026-04-14
   price $170,000 1970-char remark

   Show marketing remark (1970 chars)

   Welcome to this beautifully maintained home located in a desirable senior community, conveniently close to Chico’s shopping, dining, and everyday services. Offering one of the largest floor plans in the park, this residence features generously sized living spaces throughout and a layout designed for both comfort and functionality. Have you been searching for a kitchen worthy of a true gourmet chef? The kitchen was thoughtfully updated in 2012 with a new subfloor, electric cooktop, and newer appliances, creating a space that is both practical and inviting. Abundant cabinetry and workspace make cooking feel effortless, whether you’re preparing a quiet dinner or hosting friends. The open floor plan is bright and welcoming, with large windows that fill the home with natural light. Both bedrooms are exceptionally spacious, offering proportions rarely found in park settings. The primary suite is a true retreat, featuring a large walk-in closet and an oversized en suite bathroom complete with an expansive soaking tub, perfect for unwinding at the end of the day. A second bedroom and full bath provide flexibility for guests, hobbies, or a home office. Additional improvements include a hot water heater approximately two years old, HVAC condenser replaced in 2025, and carpet approximately three years old, offering peace of mind for the next owner. Step outside to a nicely landscaped backyard and covered porch ideal for relaxing, morning coffee, or entertaining. The attached garage provides convenient parking along with extra storage space, and throughout the home you’ll find more storage than most would expect. The senior community park, per seller, offers a variety of social activities and events for residents, which may include holiday gatherings, parades, wine nights, and bingo. Buyer to verify all community amenities, rules, and availability of events. Come see why this spacious, light-filled home could be your next chapter.

6. 2026-03-20
   listed $180,000 Active 1970-char remark

   Show marketing remark (1970 chars)

   Welcome to this beautifully maintained home located in a desirable senior community, conveniently close to Chico’s shopping, dining, and everyday services. Offering one of the largest floor plans in the park, this residence features generously sized living spaces throughout and a layout designed for both comfort and functionality. Have you been searching for a kitchen worthy of a true gourmet chef? The kitchen was thoughtfully updated in 2012 with a new subfloor, electric cooktop, and newer appliances, creating a space that is both practical and inviting. Abundant cabinetry and workspace make cooking feel effortless, whether you’re preparing a quiet dinner or hosting friends. The open floor plan is bright and welcoming, with large windows that fill the home with natural light. Both bedrooms are exceptionally spacious, offering proportions rarely found in park settings. The primary suite is a true retreat, featuring a large walk-in closet and an oversized en suite bathroom complete with an expansive soaking tub, perfect for unwinding at the end of the day. A second bedroom and full bath provide flexibility for guests, hobbies, or a home office. Additional improvements include a hot water heater approximately two years old, HVAC condenser replaced in 2025, and carpet approximately three years old, offering peace of mind for the next owner. Step outside to a nicely landscaped backyard and covered porch ideal for relaxing, morning coffee, or entertaining. The attached garage provides convenient parking along with extra storage space, and throughout the home you’ll find more storage than most would expect. The senior community park, per seller, offers a variety of social activities and events for residents, which may include holiday gatherings, parades, wine nights, and bingo. Buyer to verify all community amenities, rules, and availability of events. Come see why this spacious, light-filled home could be your next chapter.

7. 2026-03-18
   historical $180,000 1970-char remark

   Show marketing remark (1970 chars)

   Welcome to this beautifully maintained home located in a desirable senior community, conveniently close to Chico’s shopping, dining, and everyday services. Offering one of the largest floor plans in the park, this residence features generously sized living spaces throughout and a layout designed for both comfort and functionality. Have you been searching for a kitchen worthy of a true gourmet chef? The kitchen was thoughtfully updated in 2012 with a new subfloor, electric cooktop, and newer appliances, creating a space that is both practical and inviting. Abundant cabinetry and workspace make cooking feel effortless, whether you’re preparing a quiet dinner or hosting friends. The open floor plan is bright and welcoming, with large windows that fill the home with natural light. Both bedrooms are exceptionally spacious, offering proportions rarely found in park settings. The primary suite is a true retreat, featuring a large walk-in closet and an oversized en suite bathroom complete with an expansive soaking tub, perfect for unwinding at the end of the day. A second bedroom and full bath provide flexibility for guests, hobbies, or a home office. Additional improvements include a hot water heater approximately two years old, HVAC condenser replaced in 2025, and carpet approximately three years old, offering peace of mind for the next owner. Step outside to a nicely landscaped backyard and covered porch ideal for relaxing, morning coffee, or entertaining. The attached garage provides convenient parking along with extra storage space, and throughout the home you’ll find more storage than most would expect. The senior community park, per seller, offers a variety of social activities and events for residents, which may include holiday gatherings, parades, wine nights, and bingo. Buyer to verify all community amenities, rules, and availability of events. Come see why this spacious, light-filled home could be your next chapter.

8. 2022-06-22
   price $1,350
9. 2010-04-07
   soldstatus $65,500 160-char remark

   Show marketing remark (160 chars)

   VERY NICE MANUFACTURED HOME IN A WELL MAINTAINED PARK. PREVIOUS OWNERS MADE MANY UPGRADES. HOME IS IN GOOD CONDITION. BANK MAY CARRY NEW NOTE IF BUYERS QUALIFY.

10. 2010-01-08
    listed $72,500 160-char remark

    Show marketing remark (160 chars)

    VERY NICE MANUFACTURED HOME IN A WELL MAINTAINED PARK. PREVIOUS OWNERS MADE MANY UPGRADES. HOME IS IN GOOD CONDITION. BANK MAY CARRY NEW NOTE IF BUYERS QUALIFY.

11. 2006-04-21
    historical
12. 2005-10-21
    listed $179,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 37 unhealthy d/yr today · 41 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,517
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$4,655
• Taxable income: $417
• Est. tax owed @ 24.0%: −$100
• After-tax cash flow: $2,840/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): 37,409
• Household income: $64,949
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 3612.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 12% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 83% English-only · Spanish 12% Other Indo-European 2% Other Asian/Pacific 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: ▼ -313.43%
• Current HPI: 251.1819
• Rent YoY: ▲ 3.43%
• 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

-10.9% since first listed

9 events — show timeline

• 2026-05-12 Price Changed $160,000 CRMLS
• 2026-04-14 Price Changed $170,000 CRMLS
• 2026-03-20 Listed $180,000 CRMLS
• 2026-03-18 Coming Soon $180,000 CRMLS
• 2022-06-22 Price Changed $1,350 RENT.
• 2010-04-07 Sold (MLS) $65,500 CRMLS
• 2010-01-08 Listed $72,500 CRMLS
• 2006-04-21 Listing Removed — CRMLS
• 2005-10-21 Listed $179,500 CRMLS

Property tax history

+42.1%/yr

Latest (2025): $53,211 · +5.8% YoY. Source: county tax records.