982 E Lassen Ave #20 · Chico, CA 95973

$59,000

2 bd · 2.0 ba · 1,040 sqft · Manufactured public records · 9 Days on market

Built 1972 Est $62k · 5% under ↓ 26% since listing

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

Listing remarks MLS

Looking for a place you'll truly enjoy calling home? This could be it! Nestled in the Coach House Mobile Estates, a senior (55+) community in Chico, this mobile home offers both comfort and convenience. The community features great amenities, including a pool, clubhouse, and RV parking. Thoughtfully upgraded in 2021, enhancing its overall functionality and appeal—These improvements included a new Heating & Air system, enhanced insulation, a re-sealed roof, and updated kitchen and bathroom fixtures. This charming home has been well cared for and retains a welcoming atmosphere. Move-in ready and waiting for its next owner—opportunities like this don’t come around often!

Key facts

• New gas range
• Built in microwave
• Inground pool

Tags

• NEWER HVAC SYSTEM
• NEW GAS RANGE
• BUILT IN MICROWAVE
• WASHER DRYER INCLUDED
• REFRIGERATOR INCLUDED
• INGROUND POOL

Property features AI

Finance

• Other: Park name: Coach House Mobile Estates; Directions: Enter Coach House Mobile Home Park from E. Lassen, go left at the office and right at the pool
• Financial info: Assessments: Unknown
• HOA & community: Land lease community — land lease amount $650; Community features include street lighting and shared pool

Exterior

• Parking: Carport; Has parking
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public/district water; Sewer or septic (unknown)
• Home design: Mobile home (10' x 52') — mobile home remains; Single-story; Located in a senior community (Coach House Mobile Estates)
• Construction: Information sourced from assessor; Living area per assessor
• Exterior features: Covered patio; In-ground gunite community pool; Shed on property; View

Interior

• Kitchen: Gas range; Self-cleaning oven; Microwave; Dishwasher; Garbage disposal; Ice maker; Water line to refrigerator; Formica counters
• Bedrooms: Not specified
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 1 full bathroom with bathtub and separate shower
• Heating & cooling: Central cooling; Forced air / central furnace heating
• Interior features: One-level home; Turnkey condition; Carbon monoxide and smoke detectors; Double-pane windows with drapes/curtains and screens; Covered entry/patio
• Laundry & utility: Washer and dryer included; Washer hookup; Gas and electric dryer hookup; Laundry located inside in an individual room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $819 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Cap rate 22.9% 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 (+1.7%/yr); 151 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $408 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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 4→10/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.61% ✓
• Cap rate: 22.95%
• Cash-on-cash: 59.48%
• DSCR: 3.65
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $62,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
982 E Lassen Ave #19	0.01mi	2/2.0	1,080 (+4%)	5mo	$54,500	$50	89
701 E Lassen Ave #163	0.30mi	2/2.0	1,060 (+2%)	5mo	$5,000	$5	78
701 E Lassen #173	0.29mi	2/2.0	1,152 (+11%)	3mo	$84,900	$74	66
567 E Lassen Ave #300	0.51mi	2/2.0	1,040 (0%)	15mo	$38,500	$37	64
701 E Lassen Ave #144	0.35mi	3/2.0 (+1)	1,056 (+2%)	17mo	$62,950	$60	62
701 E Lassen Ave #54	0.33mi	2/2.0	980 (-6%)	16mo	$40,837	$42	61
567 East Lassen Ave #109	0.46mi	2/2.0	1,144 (+10%)	3mo	$85,000	$74	59
701 E Lassen Ave #87	0.35mi	2/2.0	1,152 (+11%)	10mo	$52,500	$46	57
982 E Lassen Ave #43	0.08mi	2/1.0	896 (-14%)	15mo	$60,000	$67	57
701 E Lassen Ave #149	0.38mi	3/2.0 (+1)	924 (-11%)	10mo	$87,550	$95	50
701 E Lassen Ave #180	0.34mi	2/2.0	890 (-14%)	17mo	$96,000	$108	46
567 E Lassen Ave #514	0.58mi	3/2.0 (+1)	1,164 (+12%)	10mo	$40,500	$35	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: 56.7%
• Equity multiple: 3.46×
• Total profit: $40,621
• Equity at exit: $8,797

10-year hold

• IRR: 61.2%
• Equity multiple: 6.73×
• Total profit: $94,651
• Equity at exit: $5,101

Cash invested: $16,520 (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: 151
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,538 high
• Mortgage (P&I): −$309
• Tax from tax record: −$62 /mo · $748/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $819

Break-even live

Break-even rent $502

Max offer price $59,000

Occupancy floor 42%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1067 Running Springs Cir Chico, CA	2.0	1.0	720	$1,325	$1.84	43d	3	0.15mi
1067 Running Springs Cir Chico, CA	2.0	1.0	720	$1,300	$1.81	13d	1	0.15mi
1080 E Lassen Ave Chico, CA	1.0–2.0	1.0–2.0	802	$1,650	$2.06	13d	10	0.16mi
1055 E Lassen Ave Chico, CA	2.0	1.0	817	$1,325	$1.62	13d	1	0.20mi
2718 White Ave Unit B Chico, CA	2.0	1.0	800	$1,190	$1.49	21d	1	0.20mi
64 Tara Ter Unit 64-2 Chico, CA	2.0	1.5	1048	$1,625	$1.55	43d	1	0.28mi
1 Mayfair Dr Chico, CA	2.0	1.0	900	$1,325	$1.47	43d	1	0.29mi
50 Cameo Dr Apt 3 Chico, CA	2.0	1.0	854	$1,350	$1.58	43d	1	0.30mi
29 Cameo Dr #2 Chico, CA	2.0	1.0	928	$1,400	$1.51	43d	1	0.30mi
2909 Godman Ave Unit 2909-2 Chico, CA	3.0	2.0	1170	$1,725	$1.47	43d	1	0.43mi
583 Morgan Dr #2 Chico, CA	3.0	2.0	1100	$1,750	$1.59	21d	1	0.44mi
2780 Pillsbury Rd Chico, CA	2.0	1.0	905	$1,345	$1.49	43d	2	0.57mi
490 Posada Way Chico, CA	3.0	2.0	1200	$2,000	$1.67	13d	1	0.57mi
599 East Ave Chico, CA	3.0	1.0	989	$1,750	$1.77	21d	1	0.68mi
2485 Pillsbury Rd Unit 2485-03 Chico, CA	2.0	2.0	950	$1,595	$1.68	13d	1	0.74mi
1459 E Lassen Ave Chico, CA	2.0	1.0	592	$1,300	$2.19	13d	1	0.77mi
1717 E Eaton Rd Chico, CA	2.0	1.5	1100	$1,550	$1.41	43d	1	0.85mi
2739 Ceres Ave Chico, CA	3.0	2.0	1100	$2,100	$1.91	43d	1	0.89mi
1749 Eaton Rd Chico, CA	2.0–3.0	1.5–2.5	1104	$1,595	$1.44	13d	1	0.90mi
194 E Shasta Ave Unit 3B Chico, CA	2.0	1.0	875	$1,900	$2.17	43d	1	0.95mi
390 Rio Lindo Ave Chico, CA	1.0–2.0	1.0	727	$1,550	$2.13	13d	6	1.03mi
455 Rio Lindo Ave Chico, CA	1.0–2.0	1.0	709	$1,330	$1.87	21d	4	1.08mi
2777 Eaton Rd Chico, CA	1.0–2.0	1.0–2.0	790	$1,634	$2.07	13d	3	1.10mi
139 W Lassen Ave #22 Chico, CA	2.0	1.0	766	$1,450	$1.89	43d	1	1.12mi
125 Parmac Rd Chico, CA	2.0	1.0	725	$1,325	$1.83	13d	1	1.14mi
205 W Lassen Ave Chico, CA	2.0	1.0	792	$1,500	$1.89	43d	1	1.19mi
251 Rio Lindo Ave Chico, CA	2.0	1.0	1100	$1,400	$1.27	43d	1	1.22mi
259 Rio Lindo Ave Unit 259-16 Chico, CA	2.0	2.0	1426	$1,595	$1.12	43d	1	1.27mi
2833 Eaton Rd Chico, CA	1.0–2.0	1.0–2.0	999	$1,850	$1.85	13d	9	1.28mi
120 Menlo Way Chico, CA	2.0	1.0	817	$1,330	$1.63	13d	1	1.38mi
565 1/2 E Lindo Ave Unit Lindo Ave unit 101 1, Chico, CA	2.0	1.0	750	$1,575	$2.10	43d	1	1.40mi
261 Cohasset Ln Chico, CA	1.0–2.0	1.0	725	$1,325	$1.83	13d	3	1.42mi
2050 Laburnum Ave Chico, CA	3.0	2.0	1455	$1,795	$1.23	13d	1	1.45mi
225 Mission Serra Ter Chico, CA	2.0	2.0	1358	$2,000	$1.47	13d	1	1.48mi
400 Mission Ranch Blvd Chico, CA	1.0–3.0	1.0–2.0	995	$1,588	$1.59	13d	1	1.50mi

Listing history 8 events

1. 2026-06-19
   days on market $59,000 Active 9 DOM
2. 2026-06-18
   days on market $59,000 Active 8 DOM
3. 2026-06-17
   days on market $59,000 Active 7 DOM
4. 2026-06-16
   days on market $59,000 Active 6 DOM
5. 2026-06-15
   days on market $59,000 Active 5 DOM
6. 2026-06-14
   days on market $59,000 Active 3 DOM
7. 2026-06-13
   remarks 427-char remark
8. 2026-06-13
   listed $59,000 Active 2 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: $748 · $62/mo
• Projected year-2 tax: $748 · $62/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 4 d/yr ≥105°F today · 10 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 37 unhealthy d/yr today · 39 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,457
• − Mortgage interest: −$3,305
• − Property taxes: −$748
• − Insurance: −$295
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$1,716
• Taxable income: $9,440
• Est. tax owed @ 24.0%: −$2,266
• After-tax cash flow: $7,560/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

-26.2% since first listed

12 events — show timeline

• 2026-06-10 Listed $59,000 CRMLS
• 2024-09-03 Sold (MLS) $65,000 CRMLS
• 2024-08-07 Pending — CRMLS
• 2024-08-01 Listed $65,000 CRMLS
• 2022-02-25 Sold (MLS) $65,000 CRMLS
• 2022-02-22 Pending — CRMLS
• 2022-02-13 Contingent — CRMLS
• 2022-01-31 Price Changed $69,000 CRMLS
• 2022-01-22 Price Changed $75,000 CRMLS
• 2022-01-15 Relisted — CRMLS
• 2022-01-03 Contingent — CRMLS
• 2021-12-15 Listed $80,000 CRMLS

Property tax history

+19.6%/yr

Latest (2025): $748 · +2.2% YoY. Source: county tax records.