
Chico, California 95926
This property presents a High-Potential Investment Opportunity with a List Price of $409,000—positioned well below the $424,868 Fair Market Value by 3%. This valuation gap offers $15,868 in Instant Equity. Featuring a 4 Condition Rating, the property offers Dual-Unit Versatility with a 3-bedroom main house and detached studio. While the vintage 1941 infrastructure requires ongoing maintenance, the High Available Lot Utilization and prime location near Chico State ensure consistent demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 548 W 4th Avenue Subject 0 bd · 0 ba · 1,561 sqft · $272 | $409,000* List Price | 0 | 0 | 1,561 | $272 | - |
A 1609 Citrus Sold 3 bd · 2 ba · 1,322 sqft · $302 · 0.2 mi | $399,000 | 3 | 2 | 1,322 | $302 | 0.2 mi |
B 432 W 6th Sold 2 bd · 1 ba · 1,256 sqft · $312 · 0.2 mi | $392,000 | 2 | 1 | 1,256 | $312 | 0.2 mi |
C 1617 Arcadian Sold 2 bd · 2 ba · 1,234 sqft · $284 · 0.3 mi | $350,000 | 2 | 2 | 1,234 | $284 | 0.3 mi |
D 4 Knotts Glen Court Sold 3 bd · 2 ba · 1,494 sqft · $315 · 0.9 mi | $470,000 | 3 | 2 | 1,494 | $315 | 0.9 mi |
E 1224 Spruce Sold 3 bd · 2 ba · 1,431 sqft · $332 · 0.8 mi | $475,000 | 3 | 2 | 1,431 | $332 | 0.8 mi |
F 1421 Hobart Street Sold 3 bd · 2 ba · 1,248 sqft · $288 · 0.1 mi | $360,000 | 3 | 2 | 1,248 | $288 | 0.1 mi |
G 515 Mission Santa Fe Sold 3 bd · 2 ba · 1,479 sqft · $331 · 1.0 mi | $489,000 | 3 | 2 | 1,479 | $331 | 1.0 mi |
H 827 W 2nd Avenue Active 4 bd · 2 ba · 1,462 sqft · $273 · 0.3 mi | $399,000 List Price | 4 | 2 | 1,462 | $273 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1941 with renovations that appear to be over 20 years old. The kitchen features dated tile countertops and older cabinetry, and the bathrooms are functional but basic. While well-maintained and move-in ready for renters, the property shows its age and requires cosmetic updates to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7841, living area = 1561.
The property features a main 3-bedroom residence and a detached studio, offering excellent flexibility for multi-generational living or a high-yield rental strategy.
Ideally situated near Chico State, Enloe Medical Center, and Downtown Chico, the property ensures consistent tenant demand and high walkability to local amenities.
With both units currently rented until mid-2027, the property is not suitable for owner-occupants needing immediate possession or those seeking to adjust rents to market rates soon.
Due to the 1941 construction date, the property may require significant ongoing maintenance or costly updates to major systems like plumbing and electrical compared to modern builds.
Two units, one lot, and endless possibilities! Ideally located near Chico State, Downtown Chico, Enloe Medical Center, shopping, dining, and other local amenities, this versatile property offers a fantastic opportunity for both homeowners and investors. Live in one unit and rent out the other, or add both to your rental portfolio—the choice is yours! Step inside the main residence featuring 3 bedrooms and 1.5 bathrooms with hardwood flooring throughout. The spacious living room is full of character, showcasing wood-paneled walls, an open-beamed ceiling, and a cozy fireplace that creates a warm and inviting atmosphere. Just beyond is a separate dining area and a generously sized kitchen complete with tile countertops, crisp white cabinetry, and a gas cooktop. Additional conveniences include indoor laundry, a private driveway, and a backyard area perfect for barbecues, entertaining, or simply enjoying the outdoors. The detached studio offers its own private entrance and front patio, along with laminate flooring, a kitchen area, and a private bathroom providing excellent flexibility for rental income, extended living, or guest accommodations. With two separate living spaces and a convenient Chico location, this property offers a unique combination of versatility and potential. Whether you're looking to take your first step into homeownership or expand your investment portfolio, this is an opportunity you won't want to miss! NOTE: Photos are from when units were vacant. Front home currently rented until 5/27/27, studio until 4/27/27.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 1,561 | 1,720.576 |
| Lot Size | 7,841 | 7,994.042 |
| Price | $409.0K | $487.0K |
| Price per sq ft | $262 | $303 |
| Built year | 1941 | 1992 |
| HOA | $0 | $154 |
| Days on market | 12 | 56 |
Oct 12, 2026
$409,000
Initial Listing
Apr 3, 2015
$249,000
Public Record