765 Humboldt Ave · Chico, CA 95928

$965,000

6 bd · 6.0 ba · 2,151 sqft · MultiFamily public records · 73 Days on market

Built 1885 10,019 sqft lot $449/sqft · 184% above area

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Why this score? — see what drove the F 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 +8.9/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

765 Humboldt Avenue is a well-maintained 6-unit multifamily property located in Chico, California. The asset features an attractive unit mix of five (5) one-bedroom, one-bathroom units and one (1) two-bedroom, one-bathroom unit - an appealing unit mix for the area. Over the past four years, the property has undergone extensive capital improvements, including new exterior siding, fresh paint, foundation enhancements, and full interior renovations across all six units. The asset is currently fully occupied, providing immediate and stable cash flow for a new owner.

Key facts

• 0.23 acre lot
• Built 1885
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 5×1bd/1ba + 1×2bd/1ba units multifamily listed at $965k.

Deal economics

• At list price, monthly cash flow is $-783 ($-9k/yr) — negative. Per door: $-131/mo.
• To cash-flow at today's rent, offer at most $827k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $672k (30.4% below list).
• Recommended offer: $672k (30.4% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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 (+3.4%/yr); 139 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).
• At $6,717/mo this rent would consume 124% of the median local household income ($65k/yr) (locally 3612% 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 $7k of loan paydown is wiped out by about $29k 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 73 days — a 6% lower offer ($907k) 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.
• Current owner paid $622k; list at $965k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 5→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $671,700 (30.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.70% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.48%
• DSCR: 0.85
• GRM: 12.0

CMA / ARV

• ARV (median comp): $413,462
• List price: $965,000
• Delta: 133.40%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1062 Humboldt Ave	0.19mi	6/3.0	2,142 (-0%)	9mo	$320,000	$149	71
772 Colorado St	0.26mi	6/3.0	2,142 (-0%)	6mo	$324,500	$151	70
604 Salem St	0.66mi	6/6.0	2,326 (+8%)	6mo	$845,000	$363	51
480 E 3rd St	0.58mi	6/3.5	2,400 (+12%)	10mo	$539,500	$225	36
803 Normal Ave	0.64mi	6/4.0	2,390 (+11%)	20mo	$419,000	$175	27

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.25×
• Total profit: $-203,605
• Equity at exit: $143,885

10-year hold

• IRR: -14.7%
• Equity multiple: 0.15×
• Total profit: $-230,499
• Equity at exit: $83,436

Cash invested: $270,200 (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 95928

• Rents YoY: 3.4%
• Active inventory: 139
• Price-to-rent: 74.5×

Monthly cashflow live

• Estimated rent: $6,717 medium
• Mortgage (P&I): −$5,061
• Tax from tax record: −$627 /mo · $7,527/yr
• Insurance: −$402
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,411
• Net cashflow: $-783

Break-even live

Break-even rent $7,709

Max offer price $826,603

Occupancy floor —

Sensitivity live

Price	-10% $-237	-5% $-510	+0% $-783	+5% $-1,057	+10% $-1,330
Rent	-10% $-1,314	-5% $-1,049	+0% $-783	+5% $-518	+10% $-253
Rate	-1.0pp $-297	-0.5pp $-538	base $-783	+0.5pp $-1,033	+1.0pp $-1,288

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$5,395
1× unit	2	1	$1,320
Total (6 units)			$6,717

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: $241,250
• Closing costs: $28,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
818 W 1st St Unit 818 1/2 House Chico, CA	6.0	2.0	1920	$4,300	$2.24	14d	1	1.14mi
1131 W 6th St Chico, CA	5.0	2.0	1600	$2,900	$1.81	44d	1	1.17mi
805 Pomona Ave Chico, CA	5.0	3.0	1690	$3,100	$1.83	44d	1	1.35mi

Listing history 28 events

1. 2026-06-19
   days on market $965,000 Active 73 DOM
2. 2026-06-18
   days on market $965,000 Active 72 DOM
3. 2026-06-17
   days on market $965,000 Active 71 DOM
4. 2026-06-16
   days on market $965,000 Active 70 DOM
5. 2026-06-15
   days on market $965,000 Active 69 DOM
6. 2026-06-14
   days on market $965,000 Active 67 DOM
7. 2026-06-13
   days on market $965,000 Active 66 DOM
8. 2026-06-10
   days on market $965,000 Active 64 DOM
9. 2026-06-08
   days on market $965,000 Active 62 DOM
10. 2026-06-07
    days on market $965,000 Active 61 DOM
11. 2026-06-05
    days on market $965,000 Active 58 DOM
12. 2026-06-02
    days on market $965,000 Active 56 DOM
13. 2026-06-01
    days on market $965,000 Active 55 DOM
14. 2026-05-31
    days on market $965,000 Active 54 DOM
15. 2026-05-30
    days on market $965,000 Active 53 DOM
16. 2026-04-07
    listed $965,000 Active 568-char remark

    Show marketing remark (568 chars)

    765 Humboldt Avenue is a well-maintained 6-unit multifamily property located in Chico, California. The asset features an attractive unit mix of five (5) one-bedroom, one-bathroom units and one (1) two-bedroom, one-bathroom unit - an appealing unit mix for the area. Over the past four years, the property has undergone extensive capital improvements, including new exterior siding, fresh paint, foundation enhancements, and full interior renovations across all six units. The asset is currently fully occupied, providing immediate and stable cash flow for a new owner.

17. 2024-11-19
    historical
18. 2024-09-19
    price $915,000
19. 2024-08-09
    price $925,000
20. 2024-07-09
    status Active
21. 2024-06-25
    status Pending Sale
22. 2024-06-18
    listed $950,000 Active
23. 2023-10-16
    soldstatus $622,500 Closed Sale
24. 2023-10-16
    soldstatus $622,500
25. 2023-10-11
    status Pending Sale
26. 2023-07-14
    listed $699,000 Active
27. 2000-11-01
    soldstatus $196,500
28. 1998-08-31
    soldstatus $140,000

ⓘ 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: $7,527 · $627/mo
• Projected year-2 tax: $7,527 · $627/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 3/10 Moderate FEMA zone X (shaded) · 17% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 5 d/yr ≥105°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 37 unhealthy d/yr today · 41 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,604
• − Mortgage interest: −$54,055
• − Property taxes: −$7,527
• − Insurance: −$4,825
• − Repairs & maintenance: −$6,448
• − Management: −$6,448
• − Depreciation: −$28,073
• Taxable loss: −$26,772
• Est. tax savings @ 24.0%: +$6,425
• After-tax cash flow: $-2,976/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): 37,409
• Household income: $64,949
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 3612.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 12% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 83% English-only · Spanish 12% Other Indo-European 2% Other Asian/Pacific 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: ▼ -313.43%
• Current HPI: 251.1819
• Rent YoY: ▲ 3.43%
• 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

+589.3% since first listed

13 events — show timeline

• 2026-04-07 Listed $965,000 CRMLS
• 2024-11-19 Listing Removed — CRMLS
• 2024-09-19 Price Changed $915,000 CRMLS
• 2024-08-09 Price Changed $925,000 CRMLS
• 2024-07-09 Relisted — CRMLS
• 2024-06-25 Pending — CRMLS
• 2024-06-18 Listed $950,000 CRMLS
• 2023-10-16 Sold (Public Records) $622,500 Public Records
• 2023-10-16 Sold (MLS) $622,500 CRMLS
• 2023-10-11 Pending — CRMLS
• 2023-07-14 Listed $699,000 CRMLS
• 2000-11-01 Sold (Public Records) $196,500 Public Records
• 1998-08-31 Sold (Public Records) $140,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $7,527 · +6.6% YoY. Source: county tax records.