487 E 3rd Avenue A & B, Chico, California 95926, Chico, 95926 - 4 bed, 3 bath
Loading property details...
487 E 3rd Avenue A & B
Chico, California 95926
ACTIVE
CONDITION: EXCELLENT
4Beds
3Baths
1,944Sq Ft
8,712Lot Size
Property Price
LIST PRICE$625,000
EST. MARKET VALUE
$594,018
5% AboveMARKET VALUE
SUMMARY
This Residential Income Duplex is a Strong Value Opportunity, listed at $625,000—positioned well above the $594,018 Fair Market Value. While the property carries a premium, its Mint Condition Rating and recent renovations, including a detached ADU, provide immediate rental utility. The property features a 1915 Bungalow with modern finishes and significant expansion potential via the unfinished upstairs storage. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a house-hack strategy in the desirable Chico Avenues neighborhood.
Estimated Market Value
$594,018
Based on Realkey algorithm analyzing recent comparable sales in Chico.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 487 E 3rd Avenue A & B Subject | $625,000* List Price | 4 | 3 | 1,944 | $306 | - |
A 1713 Arbutus Sold | $465,500 | 3 | 2 | 1,497 | $311 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
While originally built in 1915, the property has undergone a comprehensive recent renovation (likely <5 years). The interior features modern patterned tile, updated kitchens with butcher block counters, and fully remodeled bathrooms. The addition of a nearly complete ADU with modern mini-split HVAC systems and new flooring indicates high-quality maintenance and recent capital improvements, placing it in mint, move-in-ready condition.
PROSSTRENGTHS & OPPORTUNITIES
- Income & Expansion Potential
The property features a main bungalow plus a detached ADU, with additional potential to convert upstairs storage into a third studio unit, maximizing rental yield and versatility.
- Prime Location & Character
Situated in the desirable 'Avenues' neighborhood, this 1915 classic bungalow offers historic charm with a wide front porch and updated interior finishes like butcher block counters.
- Ample Parking & Privacy
The lot provides rare off-street parking for both units, including a double gate for the main house and alley access for the ADU, with cross-fencing to ensure tenant privacy.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1944, other record living area = 1444. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Pending Completion
The ADU requires finishing touches and a final certificate of occupancy, which may delay immediate rental income and require additional coordination with the city.
- Extended Market Time
With over 115 days on the market and multiple price reductions, the property may face perception challenges regarding its valuation relative to current market demand.
About 487 E 3rd Avenue A & B
Classic Chico Bungalow in the Avenues. Wide front porch to enjoy cool mornings. Living room with plenty of windows and an area for formal dining. Country kitchen butcher block wood counters, breakfast area and pantry. Spacious Master suite, all fresh paint. Front house offers off street parking with double gate to the back yard for additional parking and a private back yard cross fenced from the ADU. The ADU has some finishing touches before the final inspection and certificate of occupancy. The upstairs is storage at this time but will be an easy conversion for an additional studio unit. The ADU has room for parking 2 cars and access is off the ally. If you are looking for additional income or generational living this is a great property.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1915
- Lot Size
- 8,712 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.3 |
| Baths | 3.0 | 2.5 |
| Square foot | 1,944 | 2,092.462 |
| Lot Size | 8,712 | 9,817.769 |
| Price | $625.0K | $531.5K |
| Price per sq ft | $322 | $212 |
| Built year | 1915 | 1959 |
| HOA | $0 | $0 |
| Days on market | 120 | 79 |
Pricing History
Listed for Sale
Jul 31, 2026
$625,000
$635,000
-2% Price Drop
Initial Listing
Price Change
Jun 26, 2026
$635,000
$649,000
-2% Price Drop
Initial Listing
Price Change
May 12, 2026
$649,000
Initial Listing
Sold
Feb 24, 2023
$375,000
Public Record
Sold
Jul 29, 2005
$400,000
Public Record
Sold
Apr 10, 2003
$256,000
Public Record