911 Christi · Chico, CA 95973

$725,000

32 bd · 16.0 ba · 3,422 sqft · MultiFamily public records · 19 Days on market

Built 1986 0.30 ac lot

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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 +14.2/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• DSCR +4.3/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Rent growth +2.9/5.0
• 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 MLS

Property has good rental history; three units now rented at $650 ea. and 4th has a long term renter at $600. Each unit is 2Br, 1Ba. Parking is in the rear of building. Tax records do not show year built.

Key facts

• Updated units
• Exterior paint
• Dual-pane windows

Tags

• DUAL-PANE WINDOWS
• EXTERIOR PAINT
• UPDATED UNITS
• GOOD CONDITION
• LIMITED DEFERRED MAINTENANCE
• ADDITIONAL INCOME POTENTIAL

Property features AI

Finance

• Other: Units include multiple separately metered utilities; Unit example: a 2-bedroom, 1-bath unfurnished unit currently shows $4,860 rent (one of four units)
• Financial info: Total building area reported as 3,420; Total of 4 units; Gross scheduled income: $58,320; Gross income: $53,955.80; Net operating income: $35,439; Operating expenses: $18,516; Expense details include insurance, maintenance, gardener, trash, pest control, and water/sewer

Exterior

• Utilities: Public sewer; District/Public water; One separate water meter; Four separate gas meters; Four separate electric meters
• Home design: Attached property; Two stories; Entry level: 1
• Construction: Single building containing all units; Built year sourced from assessor
• Exterior features: No pool; Level lot with street access; Street lighting and storm drains in the community

Interior

• Bedrooms: Some units include 2 bedrooms
• Bathrooms: Some units include 1 full bathroom
• Heating & cooling: Central furnace heating
• Interior features: Two-level layout; Entry on the first level
• Laundry & utility: No laundry hookups listed

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $725k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive. Per door: $28/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 $587k (19.0% below list).
• Recommended offer: $587k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Rosedale Elementary (543 students, 53% FRL); Bidwell Junior High (math 24% / reading 24%, grade F, #277 of 498 statewide, top 73%, 990 students, 57% FRL); Pleasant Valley High (math 54% / reading 80%, grade B, #139 of 1,170 statewide, top 13%, 1,840 students, 46% FRL).
• Market conditions: Rents rising (+1.7%/yr); 152 active listings in the ZIP; solid renter incomes; 946 units permitted in Butte County in 2024 (254 in 5+ unit buildings).
• At $5,873/mo this rent would consume 76% of the median local household income ($93k/yr) (locally 1230% 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 $5k of loan paydown is wiped out by about $22k 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 19 days — a 2% lower offer ($714k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $340k; list at $725k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $587,300 (19.0% below list)

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.42×
• Total profit: $-118,078
• Equity at exit: $108,100

10-year hold

• IRR: -10.7%
• Equity multiple: 0.39×
• Total profit: $-124,719
• Equity at exit: $62,685

Cash invested: $203,000 (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 95973

• Rents YoY: 1.7%
• Active inventory: 152
• Price-to-rent: 41.2×

Monthly cashflow live

• Estimated rent: $5,873 high
• Mortgage (P&I): −$3,802
• Tax from tax record: −$423 /mo · $5,071/yr
• Insurance: −$302
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,233
• Net cashflow: $113

Break-even live

Break-even rent $5,730

Max offer price $725,000

Occupancy floor 93%

Sensitivity live

Price	-10% $523	-5% $318	+0% $113	+5% $-92	+10% $-297
Rent	-10% $-351	-5% $-119	+0% $113	+5% $345	+10% $577
Rate	-1.0pp $478	-0.5pp $297	base $113	+0.5pp $-75	+1.0pp $-266

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,872
Total (4 units)			$5,873

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: $181,250
• Closing costs: $21,750
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $725,000 Active 19 DOM
2. 2026-06-19
   days on market $725,000 Active 17 DOM
3. 2026-06-18
   days on market $725,000 Active 16 DOM
4. 2026-06-17
   days on market $725,000 Active 15 DOM
5. 2026-06-16
   days on market $725,000 Active 14 DOM
6. 2026-06-15
   days on market $725,000 Active 13 DOM
7. 2026-06-14
   days on market $725,000 Active 11 DOM
8. 2026-06-13
   days on market $725,000 Active 10 DOM
9. 2026-06-10
   days on market $725,000 Active 8 DOM
10. 2026-06-08
    days on market $725,000 Active 6 DOM
11. 2026-06-07
    days on market $725,000 Active 5 DOM
12. 2026-06-05
    days on market $725,000 Active 2 DOM
13. 2026-06-03
    remarks 674-char remark
14. 2026-06-03
    listed $725,000 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: $5,071 · $423/mo
• Projected year-2 tax: $5,510 · $459/mo
• Expected delta: +$439/yr (+$37/mo · 8.6%)

ⓘ 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 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 · 39 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,476
• − Mortgage interest: −$40,611
• − Property taxes: −$5,071
• − Insurance: −$3,625
• − Repairs & maintenance: −$5,638
• − Management: −$5,638
• − Depreciation: −$21,091
• Taxable loss: −$11,199
• Est. tax savings @ 24.0%: +$2,688
• After-tax cash flow: $4,044/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

+101.9% since first listed

10 events — show timeline

• 2026-06-02 Listed $725,000 CRMLS
• 2023-07-18 Rental Removed — APPFOLIO
• 2011-05-27 Sold (Public Records) $340,000 Public Records
• 2011-05-27 Sold (MLS) $340,000 CRMLS
• 2011-05-27 Sold (MLS) $340,000 CRMLS
• 2011-05-27 Sold (MLS) $340,000 CRMLS
• 2011-05-27 Sold (MLS) $340,000 CRMLS
• 2011-05-27 Sold (MLS) $340,000 CRMLS
• 2011-05-27 Sold (MLS) $340,000 CRMLS
• 2011-02-08 Listed $359,000 CRMLS

Property tax history

+2.6%/yr

Latest (2025): $5,071 · +6.6% YoY. Source: county tax records.