Four-Bedroom Duplex Near
New
For Sale
$530,000
745 W 3rd, Chico, CA 95928
The two-unit property is fully rented, with each residence offering two baths and a kitchen.
Property Size3,077 SF
Days on Market4
Property Features for 745 W 3rd
General Information
Standard status
Active
Size
3,077 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Building Details
Building Size
3,077 SF
Year Built
1908
Buildings
1
Listing Agency:
Re/Max of Chico
Listed By:
Dan Bosch · License #01236305
(530) 514-2901
Source:
Homesbyupside
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 1:25PM
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 Re/Max of Chico
Investment Insights
Based on property information with market context.
Built in 1908, this two-unit residential property includes four bedrooms and two bathrooms in each unit. Both residences also feature living rooms and kitchens, providing a consistent layout across the building. The property is fully rented and positioned for continued residential occupancy.
Located two blocks from Chico State University, the property offers walkable access to school, bars, restaurants, and downtown Chico. The address is 745 W 3rd in Chico, California.
Located two blocks from Chico State University, the property offers walkable access to school, bars, restaurants, and downtown Chico. The address is 745 W 3rd in Chico, California.
Key Highlights
- Two‑unit duplex with four bedrooms and two bathrooms in each unit
- Fully rented at the time of listing
- Two blocks from Chico State University
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
$39,078
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
7.37%
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%
$781,560
$781.6K
Cap Rate 7%
$558,257
$558.3K
Cap Rate 9%
$434,200
$434.2K
Market Conditions
NOI Build-Up for 3,077 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
$58.0K $18.84/SF
− Vacancy
−$2.1K −$0.70/SF
EGI
$55.8K $18.14/SF
− OpEx
−$16.7K −$5.44/SF
NOI
$39.1K $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%
$781,560
Cap Rate 7%
$558,257
Cap Rate 9%
$434,200
Alternative Uses
Best Use
Multifamily LT 5
$558.3K
$488.5K – $651.3K
NOI $39,078 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$507.4K
$444.0K – $592.0K
NOI $35,519 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$621.3K
$543.6K – $724.8K
NOI $43,489 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,747
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The two-unit property is fully rented, with each residence offering two baths and a kitchen.
Where is this duplex located?
The property is located at 745 W 3rd Chico, CA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two‑unit duplex with four bedrooms and two bathrooms in each unit; Fully rented at the time of listing; Two blocks from Chico State University
