Barber Yard Duplex with Detached
For Sale
$435,000
1011 Normal Ave, Chico, CA 95928
Two separate units each include laundry and a low-maintenance yard, plus a detached garage accessible off the alley.
Property Size1,449 SF
Days on Market27
Property Features for 1011 Normal Ave
General Information
Standard status
Active
Size
1,449 SF
Property subtype
Other
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
low-maintenance yard
oversized raised garden beds
detached garage
original hardwood floors
Building Details
Building Size
1,449 SF
Year Built
1946
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
JAROLLS, INC
(530) 809-4588
Listed By:
Craig Brandol · License #01198341
(530) 809-4588
Source:
Elliman
Added: Jul 26
Changed: Aug 16
Last Checked: Aug 21 at 9:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JAROLLS, INC
Investment Insights
Based on property information with market context.
This Barber Yard duplex offers two independently configured residences. The front home features 2 bedrooms and 1 bathroom, with original hardwood floors. Behind it, a spacious 1-bedroom, 1-bath unit provides a separate layout for tenants or an extended-family arrangement.
The property includes laundry for each unit and a low-maintenance yard with oversized raised garden beds suitable for flowers, herbs, or vegetables. A large detached garage is located off the alley, presenting possible future conversion opportunities for additional use, subject to buyer verification. BikeScore and walkScore are listed as 74 and 71, respectively.
Overall, the duplex setup provides multiple income possibilities within one property, with separate living spaces and practical outdoor areas.
The property includes laundry for each unit and a low-maintenance yard with oversized raised garden beds suitable for flowers, herbs, or vegetables. A large detached garage is located off the alley, presenting possible future conversion opportunities for additional use, subject to buyer verification. BikeScore and walkScore are listed as 74 and 71, respectively.
Overall, the duplex setup provides multiple income possibilities within one property, with separate living spaces and practical outdoor areas.
Key Highlights
- 1946 Barber Yard duplex with two separate units
- Front unit: 2 bedrooms and 1 bathroom with original hardwood floors
- Back unit: 1 bedroom and 1 bathroom with a spacious layout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,402
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,040
$368.0K
Cap Rate 7%
$262,886
$262.9K
Cap Rate 9%
$204,467
$204.5K
Market Conditions
NOI Build-Up for 1,449 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.3K $18.84/SF
− Vacancy
−$1.0K −$0.70/SF
EGI
$26.3K $18.14/SF
− OpEx
−$7.9K −$5.44/SF
NOI
$18.4K $12.70/SF
Area
Chico, CA
Vacancy
3.70%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,040
Cap Rate 7%
$262,886
Cap Rate 9%
$204,467
Alternative Uses
Best Use
Multifamily LT 5
$262.9K
$230.0K – $306.7K
NOI $18,402 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$239.0K
$209.1K – $278.8K
NOI $16,727 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$292.6K
$256.0K – $341.3K
NOI $20,479 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,451
Businesses Nearby
Explore this area
Business Placement
Demographics for 95928, CA
38,378
Population
17,455
Households
2.2
Avg Household Size
35
Median Age
41%
College-Educated
90%
High-School Grad
145.4 sq mi
ZIP Area
264
Density / Sq Mi
$65,350
Median Household Income
$32,615
Median Earnings
$1,419
Median Rent
$476,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units each include laundry and a low-maintenance yard, plus a detached garage accessible off the alley.
Where is this duplex located?
The property is located at 1011 Normal Ave Chico, CA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1946 Barber Yard duplex with two separate units; Front unit: 2 bedrooms and 1 bathroom with original hardwood floors; Back unit: 1 bedroom and 1 bathroom with a spacious layout
