| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 65th | Good |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1521 Nord Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1989 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1521 Nord Ave, Chico CA Multifamily Investment Opportunity
Positioned in a suburban neighborhood with above-metro occupancy and solid renter demand, this asset benefits from a high-cost ownership market that supports leasing stability, according to WDSuite’s CRE market data.
Neighborhood fundamentals indicate steady renter demand and occupancy support. The neighborhood s occupancy rate is 95.7% and ranks above the metro median (19 of 74), with a national percentile near the upper-third. Median contract rents in the neighborhood have risen meaningfully over five years, and the rent-to-income ratio sits at 0.13, suggesting manageable affordability pressure that can aid retention and measured pricing decisions.
Local living patterns favor multifamily demand: the share of renter-occupied housing units is 37.1% within the neighborhood, while the 3-mile radius shows a higher renter concentration around 60.7%. Within that 3-mile area, population and households have grown over the past five years, with households expanding faster than population, pointing to smaller household sizes and a larger tenant base for multifamily.
Amenities and access: Grocery access is comparatively strong (rank 15 of 74; national percentile 77), while parks, pharmacies, cafes, and childcare are limited within the immediate neighborhood. Restaurant density is competitive among Chico neighborhoods (rank 23 of 74). Average school ratings are modestly above metro norms (about 3.0 out of 5; rank 8 of 74; national percentile 61), a neutral-to-positive factor for broad renter appeal.
Housing market context: Elevated home values (national percentile 88) and a high value-to-income ratio (national percentile 85) characterize a higher-cost ownership market. For investors, this dynamic reinforces reliance on rental housing and generally supports leasing velocity and retention, rather than competing directly with entry-level ownership options.
Vintage positioning: The property s 1989 construction is newer than the neighborhood s average vintage (1969). That relative youth can enhance competitiveness versus older stock, though investors should still plan for modernization of aging systems and targeted updates to sustain performance.
Safety indicators are mixed and should be evaluated in context. Compared with neighborhoods nationwide, the area sits below the median for safety (crime national percentile 43), placing it closer to the national middle but not among the strongest cohorts. Within the Chico metro, its crime rank (44 of 74) suggests a position around the metro average rather than a clear outlier.
Recent trends diverge by category: estimated violent offenses have decreased year over year (national percentile 66 for improvement), while estimated property offenses have increased (national percentile 25 for change). For investors, this points to routine property management and security planning considerations rather than a structural deterrent, with attention to lighting, access control, and package handling practices.
The submarket draws on a diversified local employment base and campus-driven demand within a commutable radius, which supports renter retention and steady leasing. Specific employer distance data is not available in this dataset.
This 102-unit, 1989-vintage property in suburban Chico is positioned for durable renter demand. Neighborhood occupancy is 95.7%, above the metro median and in the upper-third nationally, supporting income stability. Within a 3-mile radius, population has grown and households expanded faster than population, indicating smaller household sizes and a larger renter pool that can underpin leasing. Elevated ownership costs in the area further sustain reliance on rental housing and support rent roll durability.
According to CRE market data from WDSuite, the neighborhood shows strong grocery access but limited parks and cafes, implying day-to-day convenience with some amenity gaps. The 1989 construction is newer than the neighborhood average, offering relative competitiveness versus older stock, while also signaling the need for selective system updates and value-add modernization to sustain NOI.
- Above-metro occupancy (95.7%) supports income stability and leasing consistency
- 3-mile renter concentration and household growth expand the tenant base and support absorption
- Elevated ownership costs reinforce multifamily demand and potential retention
- 1989 vintage offers competitive positioning with targeted modernization and value-add upside
- Risks: mixed safety trends and limited nearby amenities (parks/cafes) call for active management and resident programming