931 W East Ave · Chico, CA 95926

$2,795,000

24 bd · 20.0 ba · 14,899 sqft · MultiFamily public records · 88 Days on market

Built 1980 0.75 ac lot $188/sqft · 53% above area

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Why this score? — see what drove the D+ 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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Schools +4.6/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

We are pleased to present the Compass Point Apartments. This is a stabilized 20-unit multifamily community located in the charming town of Chico, CA. Built in 1980, this low-density, colonial-style community offers a "homey" atmosphere that appeals to a consistent tenant base. The property features a well-maintained unit mix consisting of sixteen 1-bedroom/1-bathroom units (725 SF) and four 2-bedroom/1-bathroom units (825 SF). Extensively renovated and meticulously maintained, this asset reflects a comprehensive overhaul of both the building's systems and aesthetics. With the heavy capital expenditures already behind it, the property offers a turnkey opportunity to push rents to market rates without the need for additional Day 1 investment. Nestled in the northern Sacramento Valley, Chico is the largest city in Butte County and serves as a vibrant hub for education, recreation, and culture. The city is famously home to California State University, Chico, which infuses the area with youthful energy and academic vigor. Outdoor enthusiasts are drawn to Bidwell Park, one of the largest municipal parks in the United States, featuring over 3,600 acres of trails, creeks, and swimming holes. The historic downtown area further enhances the local lifestyle with an eclectic mix of boutiques, eateries, and cultural landmarks. With average single-family home prices exceeding $500,000, Compass Point provides an essential high-quality housing alternative in a high-barrier-to-entry market.

Key facts

• Bidwell park
• 0.75 acre lot
• 30 parking spots

Tags

• 20 UNIT MULTIFAMILY COMMUNITY
• WELL MAINTAINED UNIT MIX
• INTERIOR AND EXTERIOR UPGRADES
• NORTHERN SACRAMENTO VALLEY
• BIDWELL PARK
• HISTORIC DOWNTOWN AREA

What this means for you Summary

Snapshot

• This is a 16×1bd/1ba + 4×2bd/1ba units multifamily listed at $2.79M.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $121/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.57M (8.1% below list).
• Recommended offer: $2.57M (8.1% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).
• At $25,682/mo this rent would consume 498% of the median local household income ($62k/yr) (locally 3912% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $19k of loan paydown is wiped out by about $84k 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 88 days — a 6% lower offer ($2.63M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,568,200 (8.1% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.71%
• DSCR: 1.17
• GRM: 9.1

CMA / ARV

• ARV (median comp): $1,825,768
• List price: $2,795,000
• Delta: 53.09%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-273,537
• Equity at exit: $416,744

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $65,497
• Equity at exit: $241,661

Cash invested: $782,600 (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: 183.1×

Monthly cashflow live

• Estimated rent: $25,682 high
• Mortgage (P&I): −$14,657
• Tax from tax record: −$2,044 /mo · $24,530/yr
• Insurance: −$1,165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,393
• Net cashflow: $2,423

Break-even live

Break-even rent $22,615

Max offer price $2,795,000

Occupancy floor 86%

Sensitivity live

Price	-10% $4,005	-5% $3,214	+0% $2,423	+5% $1,632	+10% $841
Rent	-10% $394	-5% $1,408	+0% $2,423	+5% $3,437	+10% $4,452
Rate	-1.0pp $3,830	-0.5pp $3,134	base $2,423	+0.5pp $1,699	+1.0pp $962

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 16× units	1	1	$20,352
▸ 4× units	2	1	$5,328
Total (20 units)			$25,682

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: $698,750
• Closing costs: $83,850
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $2,795,000 Active 88 DOM
2. 2026-06-18
   days on market $2,795,000 Active 87 DOM
3. 2026-06-17
   days on market $2,795,000 Active 86 DOM
4. 2026-06-16
   days on market $2,795,000 Active 85 DOM
5. 2026-06-15
   days on market $2,795,000 Active 84 DOM
6. 2026-06-14
   days on market $2,795,000 Active 82 DOM
7. 2026-06-13
   days on market $2,795,000 Active 81 DOM
8. 2026-06-10
   days on market $2,795,000 Active 79 DOM
9. 2026-06-08
   days on market $2,795,000 Active 77 DOM
10. 2026-06-07
    days on market $2,795,000 Active 76 DOM
11. 2026-06-05
    days on market $2,795,000 Active 73 DOM
12. 2026-06-02
    days on market $2,795,000 Active 71 DOM
13. 2026-06-01
    days on market $2,795,000 Active 70 DOM
14. 2026-05-31
    days on market $2,795,000 Active 69 DOM
15. 2026-05-30
    days on market $2,795,000 Active 68 DOM
16. 2026-04-27
    price $2,795,000 1508-char remark

    Show marketing remark (1508 chars)

    We are pleased to present the Compass Point Apartments. This is a stabilized 20-unit multifamily community located in the charming town of Chico, CA. Built in 1980, this low-density, colonial-style community offers a "homey" atmosphere that appeals to a consistent tenant base. The property features a well-maintained unit mix consisting of sixteen 1-bedroom/1-bathroom units (725 SF) and four 2-bedroom/1-bathroom units (825 SF). Extensively renovated and meticulously maintained, this asset reflects a comprehensive overhaul of both the building's systems and aesthetics. With the heavy capital expenditures already behind it, the property offers a turnkey opportunity to push rents to market rates without the need for additional Day 1 investment. Nestled in the northern Sacramento Valley, Chico is the largest city in Butte County and serves as a vibrant hub for education, recreation, and culture. The city is famously home to California State University, Chico, which infuses the area with youthful energy and academic vigor. Outdoor enthusiasts are drawn to Bidwell Park, one of the largest municipal parks in the United States, featuring over 3,600 acres of trails, creeks, and swimming holes. The historic downtown area further enhances the local lifestyle with an eclectic mix of boutiques, eateries, and cultural landmarks. With average single-family home prices exceeding $500,000, Compass Point provides an essential high-quality housing alternative in a high-barrier-to-entry market.

17. 2026-03-23
    listed $2,875,000 Active 1508-char remark

    Show marketing remark (1508 chars)

    We are pleased to present the Compass Point Apartments. This is a stabilized 20-unit multifamily community located in the charming town of Chico, CA. Built in 1980, this low-density, colonial-style community offers a "homey" atmosphere that appeals to a consistent tenant base. The property features a well-maintained unit mix consisting of sixteen 1-bedroom/1-bathroom units (725 SF) and four 2-bedroom/1-bathroom units (825 SF). Extensively renovated and meticulously maintained, this asset reflects a comprehensive overhaul of both the building's systems and aesthetics. With the heavy capital expenditures already behind it, the property offers a turnkey opportunity to push rents to market rates without the need for additional Day 1 investment. Nestled in the northern Sacramento Valley, Chico is the largest city in Butte County and serves as a vibrant hub for education, recreation, and culture. The city is famously home to California State University, Chico, which infuses the area with youthful energy and academic vigor. Outdoor enthusiasts are drawn to Bidwell Park, one of the largest municipal parks in the United States, featuring over 3,600 acres of trails, creeks, and swimming holes. The historic downtown area further enhances the local lifestyle with an eclectic mix of boutiques, eateries, and cultural landmarks. With average single-family home prices exceeding $500,000, Compass Point provides an essential high-quality housing alternative in a high-barrier-to-entry market.

18. 2025-02-04
    soldstatus $2,575,000 Closed Sale 689-char remark

    Show marketing remark (689 chars)

    Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy return.

19. 2025-02-04
    soldstatus $2,575,000 Closed

    Show marketing remark (689 chars)

    Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy return.

20. 2025-02-04
    soldstatus $2,575,000

    Show marketing remark (689 chars)

    Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy return.

21. 2025-01-11
    historical
22. 2024-09-11
    status Pending Sale 689-char remark

    Show marketing remark (689 chars)

    Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy return.

23. 2024-07-29
    price $2,695,000 689-char remark

    Show marketing remark (689 chars)

    Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy return.

24. 2024-06-27
    listed $2,795,000 Active 689-char remark

    Show marketing remark (689 chars)

    Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy return.

25. 2024-06-27
    listed $2,695,000

    Show marketing remark (689 chars)

    Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy return.

26. 2024-01-06
    historical $1,075
27. 2023-12-14
    listed $1,075
28. 2005-01-14
    soldstatus $1,450,000

ⓘ 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: $24,530 · $2,044/mo
• Projected year-2 tax: $24,530 · $2,044/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 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 33 unhealthy d/yr today · 39 by 30 yrs out

Taxation est. · year 1

• Rental income: $308,184
• − Mortgage interest: −$156,563
• − Property taxes: −$24,530
• − Insurance: −$13,975
• − Repairs & maintenance: −$24,655
• − Management: −$24,655
• − Depreciation: −$81,309
• Taxable loss: −$17,503
• Est. tax savings @ 24.0%: +$4,201
• After-tax cash flow: $33,274/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

• 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

+92.8% since first listed

13 events — show timeline

• 2026-04-27 Price Changed $2,795,000 TheMLS
• 2026-03-23 Listed $2,875,000 TheMLS
• 2025-02-04 Sold (Public Records) $2,575,000 Public Records
• 2025-02-04 Sold (MLS) $2,575,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-02-04 Sold (MLS) $2,575,000 CRMLS
• 2025-01-11 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-09-11 Pending — CRMLS
• 2024-07-29 Price Changed $2,695,000 CRMLS
• 2024-06-27 Listed $2,695,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2024-06-27 Listed $2,795,000 CRMLS
• 2024-01-06 Rental Removed $1,075 APPFOLIO
• 2023-12-14 Listed for Rent $1,075 APPFOLIO
• 2005-01-14 Sold (Public Records) $1,450,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $24,530 · +6.4% YoY. Source: county tax records.