3156 Esplanade #316 · Chico, CA 95973

$145,900

3 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 23 Days on market

Built 2002 $94/sqft · 35% above area Est $108k · 35% over ↓ 18% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Meticulously maintained is an understatement! Located in the Mountain View Mobile Home Community; an ALL AGES park with sparkling POOL, clubhouse and convenient location with restaurants, shops, and freeway access nearby. This 2002 manufactured ONE OWNER home feels light, bright and roomy inside! Offering a highly sought after split floor plan with a wide OPEN feel, vaulted ceilings, fresh interior paint, NEW carpet in the living and bedroom areas, tile flooring in the kitchen and primary bathroom, Trex decking, ceiling fans, plus dual pane windows throughout! Don't miss the BONUS ROOM with double french door entry, found just off the living area - this could easily transform into your 4th bedroom/home office/craft room/playroom/library/you name it! You'll appreciate the endless oak cabinetry and ample counter space found in the kitchen, plus a walk-in pantry, gas stove, newer sink faucet, tile backsplash, dishwasher, refrigerator and skylight too! The primary suite is spaciously sized with two separate closets, attached ensuite with soaking tub, dual sinks and a walk in shower. Did I mention the private, covered deck off the primary suite? This could be the ideal place to enjoy the fresh air, while unwinding from the day. On the other side of the home you will find 2 generously sized bedrooms, full bathroom and indoor laundry area. Don't forget the covered carport that easily fits 2+ vehicles and detached storage shed too. If easy living is what you are looking for, THIS IS IT!

Key facts

• Versatile den
• Kitchen skylight
• Vaulted ceilings

Tags

• VAULTED CEILINGS
• KITCHEN SKYLIGHT
• VERSATILE DEN
• LARGE ENCLOSED PATIO
• MINUTES FROM BIDWELL PARK
• LOCAL SHOPPING

Property features AI

Finance

• Other: Manager approval required for residency
• Financial info: Land lease (amount disclosed separately)
• HOA & community: Park community: Mountain View Mobile Home Community; Community pool; Pets allowed (manager approval required); Park features

Exterior

• Parking: Covered carport (attached), 2 spaces; Guest parking available
• Security: Smoke and carbon monoxide detectors
• Utilities: Electricity connected; Water connected (district/public); Septic (type unknown); 220V in kitchen
• Home design: Mobile home (26' x 60'), model PT11-CT; Single-story; Entry on side
• Construction: Concrete block foundation; Mobile home remains on site; Assessor-sourced year built
• Exterior features: Shingle roof; Awning; Covered patio/porch; Porch; Deck; Community pool; Storage building / shed (1); Wood skirting; Cross fenced; Landscaped yard

Interior

• Kitchen: Gas cooktop; Electric oven; Range/stove hood; Dishwasher; Formica counters; Kitchen open to family room; Water heater unit
• Bedrooms: Primary bedroom / primary suite (on one level)
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; Double sinks; Separate tub and shower; Soaking tub; Shower in tub
• Heating & cooling: Central furnace heating; Central cooling
• Interior features: Ceiling fan; Pantry; Open floor plan; Cathedral/vaulted ceilings; French doors; Double pane windows; Skylights; Blinds; Window screens; Carbon monoxide and smoke detectors; Side entry
• Laundry & utility: Inside laundry; 220V in laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $146k.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $144k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% 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.
• Zoned schools: Shasta Elementary (math 24% / reading 24%, grade F, #973 of 1,571 statewide, top 73%, 646 students, 45% FRL); Bidwell Junior High (math 24% / reading 24%, grade F, #277 of 498 statewide, top 73%, 990 students, 57% FRL); Pleasant Valley High (math 54% / reading 80%, grade B, #139 of 1,170 statewide, top 13%, 1,840 students, 46% FRL).
• Zoned-school proficiency averages 39% at this address vs 55% district-wide (-16 pts) — the specific schools serving this property underperform the Chico Unified average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 152 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 + 1.7% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $115k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,711 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.43% ✓
• Cap rate: 12.17%
• Cash-on-cash: 20.99%
• DSCR: 1.93
• GRM: 5.8

CMA / ARV

• ARV (median comp): $108,060
• List price: $145,900
• Delta: 35.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3156 Esplanade #304	0.05mi	2/2.0 (-1)	1,440 (-8%)	5mo	$50,000	$35	76
3156 Esplanade #253	0.17mi	2/2.0 (-1)	1,440 (-8%)	5mo	$16,500	$11	70
184 Camino Sur #45	0.54mi	3/2.0	1,560 (0%)	6mo	$58,000	$37	70
3545 Ebano Way #201	0.51mi	3/2.0	1,560 (0%)	15mo	$200,000	$128	64
586 Troy Ln	0.48mi	2/2.0 (-1)	1,440 (-8%)	9mo	$85,000	$59	52
267 Camino Sur St	0.46mi	3/2.0	1,334 (-14%)	6mo	$169,000	$127	50
293 Camino Sur St #10	0.40mi	2/2.0 (-1)	1,344 (-14%)	13mo	$159,900	$119	42
3555 Calle Principal #87	0.54mi	2/2.0 (-1)	1,344 (-14%)	8mo	$25,000	$19	40

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 · 1.7% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.47×
• Total profit: $19,161
• Equity at exit: $21,754

10-year hold

• IRR: 19.9%
• Equity multiple: 2.58×
• Total profit: $64,448
• Equity at exit: $12,615

Cash invested: $40,852 (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 95973

• Rents YoY: 1.7%
• Active inventory: 152
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,092 high
• Mortgage (P&I): −$765
• Tax from tax record: −$112 /mo · $1,349/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $715

Break-even live

Break-even rent $1,188

Max offer price $145,900

Occupancy floor 61%

Sensitivity live

Price	-10% $797	-5% $756	+0% $715	+5% $673	+10% $632
Rent	-10% $549	-5% $632	+0% $715	+5% $797	+10% $880
Rate	-1.0pp $788	-0.5pp $752	base $715	+0.5pp $677	+1.0pp $638

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: $36,475
• Closing costs: $4,377
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
490 Posada Way Chico, CA	3.0	2.0	1200	$2,000	$1.67	15d	1	0.66mi
3365 Bodero Ln Chico, CA	3.0	2.5	1576	$2,025	$1.28	15d	1	0.67mi
3365 Bodero Ln #1 Chico, CA	3.0	2.5	1576	$1,950	$1.24	45d	4	0.67mi
101 Risa Way Chico, CA	1.0–3.0	1.0–2.0	1013	$1,970	$1.94	15d	1	0.75mi
2909 Godman Ave Unit 2909-2 Chico, CA	3.0	2.0	1170	$1,725	$1.47	45d	1	0.79mi
583 Morgan Dr #2 Chico, CA	3.0	2.0	1100	$1,750	$1.59	22d	1	0.81mi
3251 Tinker Creek Way Chico, CA	4.0	3.0	2200	$3,500	$1.59	45d	1	1.15mi
482 East Ave Chico, CA	4.0	2.0	1519	$2,200	$1.45	22d	1	1.20mi
2619 Waverly Ct Chico, CA	2.0	2.0	1225	$2,400	$1.96	22d	1	1.24mi
400 Mission Ranch Blvd Chico, CA	1.0–3.0	1.0–2.0	995	$1,775	$1.78	15d	1	1.35mi
225 Mission Serra Ter Chico, CA	2.0	2.0	1358	$2,000	$1.47	15d	1	1.41mi

Listing history 23 events

1. 2026-06-21
   days on market $145,900 Active 23 DOM
2. 2026-06-19
   days on market $145,900 Active 21 DOM
3. 2026-06-18
   days on market $145,900 Active 20 DOM
4. 2026-06-17
   days on market $145,900 Active 19 DOM
5. 2026-06-16
   days on market $145,900 Active 18 DOM
6. 2026-06-15
   days on market $145,900 Active 17 DOM
7. 2026-06-14
   days on market $145,900 Active 15 DOM
8. 2026-06-13
   days on market $145,900 Active 14 DOM
9. 2026-06-10
   days on market $145,900 Active 12 DOM
10. 2026-06-08
    days on market $145,900 Active 10 DOM
11. 2026-06-07
    days on market $145,900 Active 9 DOM
12. 2026-06-05
    days on market $145,900 Active 6 DOM
13. 2026-06-02
    days on market $145,900 Active 4 DOM
14. 2026-06-01
    days on market $145,900 Active 3 DOM
15. 2026-05-31
    days on market $145,900 Active 2 DOM
16. 2026-05-30
    days on marketlisting id $145,900 Active 1 DOM
17. 2023-03-23
    soldstatus $115,000 Closed Sale 1516-char remark

    Show marketing remark (1516 chars)

    Meticulously maintained is an understatement! Located in the Mountain View Mobile Home Community; an ALL AGES park with sparkling POOL, clubhouse and convenient location with restaurants, shops, and freeway access nearby. This 2002 manufactured ONE OWNER home feels light, bright and roomy inside! Offering a highly sought after split floor plan with a wide OPEN feel, vaulted ceilings, fresh interior paint, NEW carpet in the living and bedroom areas, tile flooring in the kitchen and primary bathroom, Trex decking, ceiling fans, plus dual pane windows throughout! Don't miss the BONUS ROOM with double french door entry, found just off the living area - this could easily transform into your 4th bedroom/home office/craft room/playroom/library/you name it! You'll appreciate the endless oak cabinetry and ample counter space found in the kitchen, plus a walk-in pantry, gas stove, newer sink faucet, tile backsplash, dishwasher, refrigerator and skylight too! The primary suite is spaciously sized with two separate closets, attached ensuite with soaking tub, dual sinks and a walk in shower. Did I mention the private, covered deck off the primary suite? This could be the ideal place to enjoy the fresh air, while unwinding from the day. On the other side of the home you will find 2 generously sized bedrooms, full bathroom and indoor laundry area. Don't forget the covered carport that easily fits 2+ vehicles and detached storage shed too. If easy living is what you are looking for, THIS IS IT!

18. 2023-03-13
    status Pending Sale 1516-char remark

    Show marketing remark (1516 chars)

    Meticulously maintained is an understatement! Located in the Mountain View Mobile Home Community; an ALL AGES park with sparkling POOL, clubhouse and convenient location with restaurants, shops, and freeway access nearby. This 2002 manufactured ONE OWNER home feels light, bright and roomy inside! Offering a highly sought after split floor plan with a wide OPEN feel, vaulted ceilings, fresh interior paint, NEW carpet in the living and bedroom areas, tile flooring in the kitchen and primary bathroom, Trex decking, ceiling fans, plus dual pane windows throughout! Don't miss the BONUS ROOM with double french door entry, found just off the living area - this could easily transform into your 4th bedroom/home office/craft room/playroom/library/you name it! You'll appreciate the endless oak cabinetry and ample counter space found in the kitchen, plus a walk-in pantry, gas stove, newer sink faucet, tile backsplash, dishwasher, refrigerator and skylight too! The primary suite is spaciously sized with two separate closets, attached ensuite with soaking tub, dual sinks and a walk in shower. Did I mention the private, covered deck off the primary suite? This could be the ideal place to enjoy the fresh air, while unwinding from the day. On the other side of the home you will find 2 generously sized bedrooms, full bathroom and indoor laundry area. Don't forget the covered carport that easily fits 2+ vehicles and detached storage shed too. If easy living is what you are looking for, THIS IS IT!

19. 2023-02-15
    historical Active Under Contract 1516-char remark

    Show marketing remark (1516 chars)

    Meticulously maintained is an understatement! Located in the Mountain View Mobile Home Community; an ALL AGES park with sparkling POOL, clubhouse and convenient location with restaurants, shops, and freeway access nearby. This 2002 manufactured ONE OWNER home feels light, bright and roomy inside! Offering a highly sought after split floor plan with a wide OPEN feel, vaulted ceilings, fresh interior paint, NEW carpet in the living and bedroom areas, tile flooring in the kitchen and primary bathroom, Trex decking, ceiling fans, plus dual pane windows throughout! Don't miss the BONUS ROOM with double french door entry, found just off the living area - this could easily transform into your 4th bedroom/home office/craft room/playroom/library/you name it! You'll appreciate the endless oak cabinetry and ample counter space found in the kitchen, plus a walk-in pantry, gas stove, newer sink faucet, tile backsplash, dishwasher, refrigerator and skylight too! The primary suite is spaciously sized with two separate closets, attached ensuite with soaking tub, dual sinks and a walk in shower. Did I mention the private, covered deck off the primary suite? This could be the ideal place to enjoy the fresh air, while unwinding from the day. On the other side of the home you will find 2 generously sized bedrooms, full bathroom and indoor laundry area. Don't forget the covered carport that easily fits 2+ vehicles and detached storage shed too. If easy living is what you are looking for, THIS IS IT!

20. 2023-02-08
    listed $115,000 Active 1516-char remark

    Show marketing remark (1516 chars)

    Meticulously maintained is an understatement! Located in the Mountain View Mobile Home Community; an ALL AGES park with sparkling POOL, clubhouse and convenient location with restaurants, shops, and freeway access nearby. This 2002 manufactured ONE OWNER home feels light, bright and roomy inside! Offering a highly sought after split floor plan with a wide OPEN feel, vaulted ceilings, fresh interior paint, NEW carpet in the living and bedroom areas, tile flooring in the kitchen and primary bathroom, Trex decking, ceiling fans, plus dual pane windows throughout! Don't miss the BONUS ROOM with double french door entry, found just off the living area - this could easily transform into your 4th bedroom/home office/craft room/playroom/library/you name it! You'll appreciate the endless oak cabinetry and ample counter space found in the kitchen, plus a walk-in pantry, gas stove, newer sink faucet, tile backsplash, dishwasher, refrigerator and skylight too! The primary suite is spaciously sized with two separate closets, attached ensuite with soaking tub, dual sinks and a walk in shower. Did I mention the private, covered deck off the primary suite? This could be the ideal place to enjoy the fresh air, while unwinding from the day. On the other side of the home you will find 2 generously sized bedrooms, full bathroom and indoor laundry area. Don't forget the covered carport that easily fits 2+ vehicles and detached storage shed too. If easy living is what you are looking for, THIS IS IT!

21. 2023-01-16
    historical
22. 2022-12-05
    price $167,000
23. 2022-10-26
    listed $179,000 Active

ⓘ 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: $1,349 · $112/mo
• Projected year-2 tax: $1,349 · $112/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥105°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 35 unhealthy d/yr today · 40 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,109
• − Mortgage interest: −$8,173
• − Property taxes: −$1,349
• − Insurance: −$730
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − Depreciation: −$4,244
• Taxable income: $6,596
• Est. tax owed @ 24.0%: −$1,583
• After-tax cash flow: $6,993/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): 39,031
• Household income: $92,813
• Rent vs Own: 37.9% rent · 62.1% own
• Severe rent burden: 1230.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 19% Two or more races 10% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 4% Italian 4% Russian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 84% English-only · Spanish 11% 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: ▼ -182.94%
• Current HPI: 259.9774
• Rent YoY: ▲ 1.70%
• 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

-18.5% since first listed

8 events — show timeline

• 2026-05-29 Listed $145,900 CRMLS
• 2023-03-23 Sold (MLS) $115,000 CRMLS
• 2023-03-13 Pending — CRMLS
• 2023-02-15 Contingent — CRMLS
• 2023-02-08 Listed $115,000 CRMLS
• 2023-01-16 Listing Removed — CRMLS
• 2022-12-05 Price Changed $167,000 CRMLS
• 2022-10-26 Listed $179,000 CRMLS

Property tax history

+8.8%/yr

Latest (2025): $1,349 · +6.4% YoY. Source: county tax records.