2050 Springfield #101 · Chico, CA 95928

$160,000

2 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 91 Days on market

Built 1990 Est $193k · 17% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• 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 your new home and community! The living area of this home is spacious enough for entertaining or simply spreading out. The bright kitchen with plenty of storage opens up to the equally spacious Dining Room. The Master Bedroom has a double walk-in closet and a slider to the back patio and lovely landscaped backyard. Master Bath has double sinks, plenty of storage, a soaking tub and a step-in shower. The 2nd bedroom and bath are located at the opposite end of the home. The Laundry room has yet more storage, space for washer, dryer and a separate area for a 2nd refrigerator or freezer. The attached 2-Car garage has doors leading directly into the house and the backyard. New paint throughout, 1 yr old carpet, newer roof, newer kitchen and laundry flooring. Springfied Manor offers plenty for the active Senior community. The Club House boasts a Card room, Pool room, Library, Large Meeting room, 2 kitchens, Exercise room. Other amenities include the Pool, Spa, Picnic Patio and green spaces. Springfield Manor is located within walking distance (or a short drive) to grocery, restaurants and shopping.

Key facts

• 2 garage spots
• Community pool
• Built 1990

Property features AI

Finance

• Financial info: Monthly land lease of $941 (park); Park name: Springfield Manor
• HOA & community: Part of an association; Senior community; Community features include urban setting; Rent includes association dues and pool (land lease community)

Exterior

• Parking: Attached 2-car garage; 2 total parking spaces; Located in Springfield Manor park
• Utilities: Public sewer; District/public water
• Home design: Single-story mobile home; Mobile home remains on site; Corner lot; Close to clubhouse; Facing/entry at front door
• Construction: Mobile home approximately 28 by 58 feet; One total story
• Exterior features: In-ground community pool

Interior

• Kitchen: Built-in range
• Bedrooms: Main floor primary bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: Skylights; In-ground community spa; Front door entry; Single-level living
• Laundry & utility: Indoor laundry in a dedicated room

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $620 ($7k/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: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 38% 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.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $78k; list at $160k implies a 105% 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 $145,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.27% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.61%
• DSCR: 1.74
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $192,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2050 Springfield Dr #103	0.01mi	2/2.0	1,680 (+4%)	0mo	$160,015	$95	93
2050 Springfield Dr #215	0.12mi	2/2.0	1,568 (-3%)	1mo	$180,000	$115	88
2050 Springfield Dr #312	0.09mi	2/2.0	1,512 (-7%)	2mo	$180,000	$119	83
2050 Springfield Dr #314	0.10mi	2/2.0	1,512 (-7%)	10mo	$185,000	$122	76
2050 Springfield Dr #303	0.04mi	2/2.0	1,456 (-10%)	7mo	$170,000	$117	75
2050 Springfield Dr #210	0.08mi	2/2.0	1,512 (-7%)	14mo	$161,000	$106	74
2050 Springfield Dr #316	0.11mi	2/2.0	1,512 (-7%)	12mo	$189,000	$125	73
2050 Springfield #213	0.11mi	2/2.0	1,404 (-13%)	5mo	$190,000	$135	69
2050 Springfield Dr #315	0.11mi	2/2.0	1,404 (-13%)	6mo	$187,000	$133	68
2050 Springfield Dr #204	0.05mi	2/2.0	1,404 (-13%)	10mo	$190,000	$135	67
2050 Springfield Dr #155	0.19mi	2/2.0	1,456 (-10%)	10mo	$170,000	$117	66
2050 Springfield Dr #123	0.10mi	2/2.0	1,404 (-13%)	20mo	$146,000	$104	56

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: 8.2%
• Equity multiple: 1.32×
• Total profit: $14,422
• Equity at exit: $23,857

10-year hold

• IRR: 17.7%
• Equity multiple: 2.49×
• Total profit: $66,930
• 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: 6.5×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$839
• Tax from tax record: −$85 /mo · $1,024/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $620

Break-even live

Break-even rent $1,255

Max offer price $160,000

Occupancy floor 65%

Sensitivity live

Price	-10% $711	-5% $666	+0% $620	+5% $575	+10% $530
Rent	-10% $459	-5% $540	+0% $620	+5% $701	+10% $781
Rate	-1.0pp $701	-0.5pp $661	base $620	+0.5pp $579	+1.0pp $537

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: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1826 Bedford Dr Chico, CA	3.0	2.0	1842	$2,750	$1.49	44d	1	0.16mi
1890 Notre Dame Blvd Unit 3 Chico, CA	2.0	2.0	1067	$1,915	$1.79	22d	1	0.19mi
1886 Notre Dame Blvd Unit 3 Chico, CA	2.0	2.0	1067	$1,915	$1.79	22d	1	0.19mi
2038 Huntington Dr Chico, CA	3.0	2.0	1500	$2,300	$1.53	44d	1	0.30mi
1450 Springfield Dr Chico, CA	2.0–3.0	2.0	1066	$1,560	$1.46	44d	1	0.39mi
1550 Springfield Dr Chico, CA	1.0–2.0	1.0–2.0	961	$1,518	$1.58	14d	5	0.49mi
7 Heartwood Ct Chico, CA	3.0	2.0	1316	$2,350	$1.79	44d	1	0.63mi
23 Morning Rose Way Unit 1 Chico, CA	2.0	2.0	1145	$1,925	$1.68	44d	1	0.71mi
1880 Humboldt Rd Apt 19 Chico, CA	3.0	2.0	1230	$1,800	$1.46	44d	1	0.74mi
2361 England St Chico, CA	3.0	2.5	1739	$2,350	$1.35	22d	1	0.80mi
860 Inyo St Chico, CA	3.0	1.0	1053	$2,150	$2.04	22d	1	0.93mi
One Illahee LN Cohasset, CA	2.0	1.5	1080	$1,750	$1.62	14d	1	0.99mi
100 Sterling Oaks Dr Chico, CA	1.0–2.0	1.0–2.0	938	$1,935	$2.06	14d	6	1.00mi
2 Lakeshore Ter Unit l Chico, CA	1.0	2.0	1300	$2,000	$1.54	44d	1	1.17mi
2768 Native Oak Dr Chico, CA	1.0–3.0	1.0–2.0	822	$1,056	$1.28	44d	5	1.17mi
1528 Boucher St Chico, CA	2.0	2.0	1496	$2,000	$1.34	22d	1	1.32mi

Listing history 13 events

1. 2026-06-19
   days on market $160,000 Active 91 DOM
2. 2026-06-18
   days on market $160,000 Active 90 DOM
3. 2026-06-17
   days on market $160,000 Active 89 DOM
4. 2026-06-16
   days on market $160,000 Active 88 DOM
5. 2026-06-15
   days on market $160,000 Active 87 DOM
6. 2026-06-14
   days on market $160,000 Active 85 DOM
7. 2026-06-13
   days on market $160,000 Active 84 DOM
8. 2026-06-10
   days on market $160,000 Active 82 DOM
9. 2026-06-08
   days on market $160,000 Active 80 DOM
10. 2026-06-07
    days on market $160,000 Active 79 DOM
11. 2026-06-05
    days on market $160,000 Active 76 DOM
12. 2026-06-02
    remarks 687-char remark
13. 2026-06-02
    listed $160,000 Active 74 DOM

ⓘ 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: $1,024 · $85/mo
• Projected year-2 tax: $1,216 · $101/mo
• Expected delta: +$192/yr (+$16/mo · 18.7%)

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

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: $24,475
• − Mortgage interest: −$8,962
• − Property taxes: −$1,024
• − Insurance: −$800
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − Depreciation: −$4,655
• Taxable income: $5,118
• Est. tax owed @ 24.0%: −$1,228
• After-tax cash flow: $6,214/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

+100.0% since first listed

8 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
• 2026-02-20 Listed $185,000 CRMLS
• 2013-03-08 Sold (MLS) $78,000 CRMLS
• 2013-02-14 Listing Removed — CRMLS
• 2012-11-21 Listed $80,000 CRMLS

Property tax history

+2.0%/yr

Latest (2025): $1,024 · +6.5% YoY. Source: county tax records.