1665 Sycamore St · Gridley, CA 95948

$295,000

6 bd · 2.5 ba · 2,360 sqft · MultiFamily public records · 2 Days on market

Built 1948 6,534 sqft lot

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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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great income property! This house is divided into 2 units. There are 2 bedrooms, 1 bathroom upstairs and 4 bedrooms, 1.5 bathrooms downstairs. County records lists house as 4 bedroom 2 bathroom, buyer to verify. Total rent for both units is currently $1400. Each unit has a detached storage shed. Both units currently have tenants, upstairs lease expires 06/04/15 and downstairs lease expires 03/23/2015. Tenant needs 24 hour notice before showing. Call Peebles Property Management to set up appointment. House does not qualify for First Time Home Buyer loan, but is great for investors.

Key facts

• 6,534 sq ft lot
• 3 parking spots
• Built 1948

Tags

• CENTRALLY LOCATED DUPLEX
• DETACHED STORAGE AREA

Property features AI

Finance

• Other: Address: 1665 Sycamore St, Gridley, CA 95948; Directions: Hwy 99 - West on Sycamore to property
• Financial info: Property listed as residential income (duplex, apartments); 2 total units; 1 two-bedroom unit reported occupied
• HOA & community: No association

Exterior

• Parking: 3 total parking spaces
• Security: No security details provided
• Utilities: Public water; Public sewer; Public district irrigation; Cable available; City utilities available
• Home design: Duplex (residential income / apartments); 2 stories; Built in 1948
• Construction: Built in 1948
• Exterior features: Sidewalk on lot

Interior

• Kitchen: No appliance details provided
• Bedrooms: Total of 2 residential units (duplex); One unit listed with 1 bedroom
• Flooring: Laminate
• Bathrooms: One full bathroom in Unit 4; One partial bathroom in Unit 4
• Heating & cooling: Wall furnace heating; Ceiling fan(s); Wall unit(s) for cooling; Other cooling
• Interior features: Laminate flooring; Ceiling fans; Wall unit cooling; Other cooling; Wall furnace heating
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.5-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive. Per door: $488/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Cap rate 10.3% vs local median 3.0% in Gridley — 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 59/100 on livability (#644 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime C-, schools D+, cost of living D.
• Gridley Unified (town): math 29% / reading 48% proficiency, ranked #254 of 517 in CA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 47 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $9k 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 + 3.0% rent growth), your $83k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y ago; this cycle's ask is 168% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $50k; list at $295k implies a 496% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.19% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.17%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $14,199
• Equity at exit: $43,985

10-year hold

• IRR: 13.9%
• Equity multiple: 2.11×
• Total profit: $91,924
• Equity at exit: $25,506

Cash invested: $82,600 (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 95948

• Active inventory: 47
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$120 /mo · $1,440/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $975

Break-even live

Break-even rent $2,266

Max offer price $295,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1.5	$3,500
Total (2 units)			$3,500

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-19
   days on market $295,000 Active 2 DOM
2. 2026-06-17
   remarks 165-char remark
3. 2026-06-17
   listed $295,000 Active 1 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: $1,440 · $120/mo
• Projected year-2 tax: $2,242 · $187/mo
• Expected delta: +$802/yr (+$67/mo · 55.7%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 31 unhealthy d/yr today · 35 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$16,525
• − Property taxes: −$1,440
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$8,582
• Taxable income: $7,258
• Est. tax owed @ 24.0%: −$1,742
• After-tax cash flow: $9,959/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: Gridley Unified
• NCES district ID: 0600051
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 48% ▲ 4.00%
• Median HH income: $41,751
• Composite: 32.39/100
• National rank: #5731
• State rank: #254 of 517 in CA

Livability — Gridley

• Score: 59/100
• State rank: #644
• US rank: #20136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gridley, CA
• Population (ZIP): 11,118

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: Majority White (59%)
• Race & ethnicity: White 59% Hispanic / Latino 36% Two or more races 12% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 2%
• Foreign-born: 14% · Canada
• Languages at home: 73% English-only · Spanish 25%

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: ▼ -151.05%
• Current HPI: 259.6078
• Rent YoY: —
• Metro: —
• 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

+5.3% since first listed

10 events — show timeline

• 2017-11-15 Sold (Public Records) $49,500 Public Records
• 2015-02-23 Sold (MLS) $95,000 SDMLS
• 2015-02-23 Sold (MLS) $95,000 CRMLS
• 2015-02-18 Sold (Public Records) $95,000 Public Records
• 2015-01-24 Pending — CRMLS
• 2015-01-19 Listed $110,000 CRMLS
• 2015-01-19 Listed $110,000 SDMLS
• 1991-12-05 Sold (Public Records) $20,500 Public Records
• 1989-12-13 Sold (Public Records) $51,000 Public Records
• 1985-08-19 Sold (Public Records) $47,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $1,440 · +2.3% YoY. Source: county tax records.