Two Homes on One
For Sale
$499,999
358 E 12th St, Chico, CA 95928
Two charming homes on one lot in Chico, California.
Property Size1,728 SF
Lot Size0.18 Acres
Days on Market270
Property Features for 358 E 12th St
General Information
Standard status
Active
Size
1,728 SF
Lot size
0.18 Acres
Property subtype
Investment
Building Details
Building Size
1,728 SF
Year Built
1957
Stories
2
Units
2
Listing Agency:
(530) 751-8000
Listed By:
Liz Skutley
(530) 751-8000
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 14
Last Checked: Aug 25 at 8:58AM
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 Liz Skutley
Investment Insights
Based on property information with market context.
This property features two homes on one lot. The front house, built in 1957, is a 928 square foot home with 2 bedrooms and 1.5 bathrooms. It has been recently remodeled with new exterior paint, new interior paint, new dual pane windows, new cabinets, new countertops, new appliances, new flooring, and a new updated downstairs bathroom. The back house is an 800 square foot ADU home with 3 bedrooms and 2 bathrooms, built in 2022. Each home has its own privately fenced, low-maintenance yard and separate utility meters. This property is located in Chico, California.
Key Highlights
- Two homes on one lot: a remodeled 2‑bedroom house and a newer 3‑bedroom ADU
- The front house has been recently remodeled with new exterior paint, interior paint, dual pane windows, cabinets, countertops, appliances, flooring, and an updated downstairs bathroom
- The back house is an 800 sq. ft. ADU built in 2022 with 3 bedrooms and 2 bathrooms
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
$21,946
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
4.39%
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%
$438,920
$438.9K
Cap Rate 7%
$313,514
$313.5K
Cap Rate 9%
$243,844
$243.8K
Market Conditions
NOI Build-Up for 1,728 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
$32.6K $18.84/SF
− Vacancy
−$1.2K −$0.70/SF
EGI
$31.4K $18.14/SF
− OpEx
−$9.4K −$5.44/SF
NOI
$21.9K $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%
$438,920
Cap Rate 7%
$313,514
Cap Rate 9%
$243,844
Alternative Uses
Best Use
Multifamily LT 5
$313.5K
$274.3K – $365.8K
NOI $21,946 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$285.0K
$249.3K – $332.5K
NOI $19,947 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$348.9K
$305.3K – $407.1K
NOI $24,423 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,424
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 charming homes on one lot in Chico, California.
Where is this duplex located?
The property is located at 358 E 12th St Chico, CA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Two homes on one lot: a remodeled 2‑bedroom house and a newer 3‑bedroom ADU; The front house has been recently remodeled with new exterior paint, interior paint, dual pane windows, cabinets, countertops, appliances, flooring, and an updated downstairs bathroom; The back house is an 800 sq. ft. ADU built in 2022 with 3 bedrooms and 2 bathrooms
