1656 Pine St · Oroville, CA 95965

$475,000

9 bd · 4.0 ba · 3,611 sqft · MultiFamily public records · 273 Days on market

Built 1910 9,148 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Livability +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: 4 units. confirmed

Listing remarks

This 4-Plex is in the heart of downtown Oroville and has always been easy to rent. Unit A: 3 bed, 1 bath, not remodeled. Unit B: 2 bed, 1 bath, remodeled in 2025. Unit C: 2 bed, 1 bath, remodeled in 2022. Unit D: 2 bed, 1 bath, remodeled in 2024. Exterior south facing siding replaced in 2023. This has been a great rental property and has so much potential for future growth. All units are currently rented.

Key facts

• South facing siding
• Remodeled in 2024
• Remodeled in 2025

Tags

• SOUTH FACING SIDING
• REMODELED IN 2025
• REMODELED IN 2022
• REMODELED IN 2024

Property features AI

Finance

• Financial info: Four-unit income property
• HOA & community: No homeowners association

Exterior

• Parking: Off-street parking for 6 vehicles
• Utilities: Public water; Public sewer; No irrigation
• Home design: Quadruplex residential income property; Built in 1910
• Construction: Original construction from 1910
• Exterior features: Lot approximately 0.21 acres; No notable lot features

Interior

• Bedrooms: Three units with 2 bedrooms each
• Flooring: Laminate; Vinyl
• Bathrooms: Three units with 1 full bathroom each
• Heating & cooling: Wall furnace heating; Wall-mounted cooling units
• Interior features: Laminate and vinyl flooring; Two-story building
• Laundry & utility: On-site laundry (other)

What this means for you Summary

Snapshot

• This is a 1×3.0bd/1.0ba + 3×2.0bd/1.0ba units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $274/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $418k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.6% in Oroville — 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 50/100 on livability (#1,136 in CA) — a working-class tenant base; expect higher turnover. Watch: schools D, cost of living D, crime F.
• Oroville Union High (town): math 19% / reading 49% proficiency, ranked #300 of 517 in CA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 167 active listings in the ZIP; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).
• At $5,448/mo this rent would consume 123% of the median local household income ($53k/yr) (locally 892% 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 $3k of loan paydown is wiped out by about $14k 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 273 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $418,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 273 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.15% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.89%
• DSCR: 1.44
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.88% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-13,217
• Equity at exit: $70,824

10-year hold

• IRR: 5.8%
• Equity multiple: 1.41×
• Total profit: $54,144
• Equity at exit: $41,069

Cash invested: $133,000 (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 95965

• Home prices YoY: -31.6%
• Rents YoY: 1.9%
• Active inventory: 167
• Price-to-rent: 27.6×

Monthly cashflow live

• Estimated rent: $5,448 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$519 /mo · $6,232/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,144
• Net cashflow: $1,096

Break-even live

Break-even rent $4,061

Max offer price $475,000

Occupancy floor 75%

Sensitivity live

Price	-10% $1,365	-5% $1,230	+0% $1,096	+5% $961	+10% $827
Rent	-10% $665	-5% $881	+0% $1,096	+5% $1,311	+10% $1,526
Rate	-1.0pp $1,335	-0.5pp $1,217	base $1,096	+0.5pp $973	+1.0pp $847

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

Units	Beds	Baths	Est. rent
1× unit	3.0	1	$1,433
▸ 3× units	2.0	1	$4,014
Total (4 units)			$5,448

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2022-07-29
   soldstatus $450,000
2. 2022-05-31
   historical
3. 2022-05-22
   status Active
4. 2022-05-09
   status Pending Sale
5. 2022-04-21
   listed $450,000 Active
6. 2021-04-06
   historical
7. 2021-02-02
   listed $425,000 Active
8. 2021-02-02
   historical
9. 2019-04-16
   soldstatus $240,000
10. 2019-04-16
    soldstatus $240,000 Closed Sale
11. 2019-04-16
    soldstatus $240,000
12. 2019-03-20
    historical Active Under Contract
13. 2019-03-11
    price $249,000
14. 2019-03-05
    status Active
15. 2019-02-16
    historical Active Under Contract
16. 2019-02-01
    listed $249,000
17. 2019-02-01
    listed $259,000 Active
18. 2007-05-11
    soldstatus $310,000
19. 2007-05-10
    soldstatus $310,000
20. 2007-04-04
    listed $339,000
21. 2006-12-21
    historical
22. 2006-11-17
    historical
23. 2006-09-21
    listed $344,000
24. 2006-08-17
    listed $369,000

ⓘ 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: $6,232 · $519/mo
• Projected year-2 tax: $6,232 · $519/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 9/10 Extreme
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 34 unhealthy d/yr today · 39 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,376
• − Mortgage interest: −$26,607
• − Property taxes: −$6,232
• − Insurance: −$2,375
• − Repairs & maintenance: −$5,230
• − Management: −$5,230
• − Depreciation: −$13,818
• Taxable income: $5,884
• Est. tax owed @ 24.0%: −$1,412
• After-tax cash flow: $11,737/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: Oroville Union High
• NCES district ID: 0629130
• Math proficiency: 19% ▼ -2.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $38,085
• Composite: 28.26/100
• National rank: #6794
• State rank: #300 of 517 in CA

Livability — Oroville

• Score: 50/100
• State rank: #1136
• US rank: #25715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oroville, CA
• County: Butte County · 175,030 people
• City population: 49,684
• Metro: Chico, CA
• Population (ZIP): 21,181
• Household income: $53,198
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 892.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 50% Hispanic / Latino 20% Asian 16% Two or more races 13% Black 3% Native American 3%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 2% Iranian 2% Russian 1%
• Foreign-born: 12% · Canada
• Languages at home: 75% English-only · Spanish 13% Other Asian/Pacific 10% Tagalog/Filipino 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: ▼ -146.76%
• Current HPI: 317.0277
• Rent YoY: ▲ 1.88%
• 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

+22.0% since first listed

24 events — show timeline

• 2022-07-29 Sold (Public Records) $450,000 Public Records
• 2022-05-31 Listing Removed — CRMLS
• 2022-05-22 Relisted — CRMLS
• 2022-05-09 Pending — CRMLS
• 2022-04-21 Listed $450,000 CRMLS
• 2021-04-06 Listing Removed — CRMLS
• 2021-02-02 Listed $425,000 CRMLS
• 2021-02-02 Coming Soon — CRMLS
• 2019-04-16 Sold (Public Records) $240,000 Public Records
• 2019-04-16 Sold (MLS) $240,000 CRMLS
• 2019-04-16 Sold (MLS) $240,000 SDMLS
• 2019-03-20 Contingent — CRMLS
• 2019-03-11 Price Changed $249,000 CRMLS
• 2019-03-05 Relisted — CRMLS
• 2019-02-16 Contingent — CRMLS
• 2019-02-01 Listed $259,000 CRMLS
• 2019-02-01 Listed $249,000 SDMLS
• 2007-05-11 Sold (MLS) $310,000 CRMLS
• 2007-05-10 Sold (Public Records) $310,000 Public Records
• 2007-04-04 Listed $339,000 CRMLS
• 2006-12-21 Listing Removed — CRMLS
• 2006-11-17 Listing Removed — CRMLS
• 2006-09-21 Listed $344,000 CRMLS
• 2006-08-17 Listed $369,000 CRMLS

Property tax history

+7.5%/yr

Latest (2025): $6,232 · +1.9% YoY. Source: county tax records.