| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 62nd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1550 Springfield Dr, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1980 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1550 Springfield Dr, Chico Multifamily Opportunity
Investor positioning benefits from a deep renter base and strong neighborhood amenities, according to WDSuite s CRE market data. Neighborhood occupancy trends and local service density suggest stable day-to-day leasing fundamentals for well-managed assets.
Chico s inner-suburb location around 1550 Springfield Dr scores A+ at the neighborhood level and sits near the top among 74 metro neighborhoods, with amenities performing top quartile nationally. Caf e9s, restaurants, pharmacies, parks, and grocery options are comparatively dense, supporting convenience for residents and reinforcing daily-life livability for renters.
Neighborhood occupancy is around the high-80s with performance sitting near the middle of national peers, while the share of renter-occupied housing is elevated (above metro median), indicating depth in the tenant base and support for steady leasing. Median contract rents track in the middle of national peers and the rent-to-income ratio of roughly 24% points to manageable affordability pressure that can aid retention when paired with disciplined lease management.
Within a 3-mile radius, population has grown in recent years and household counts have expanded faster, with projections indicating continued household growth alongside smaller average household sizes. For investors, that combination typically broadens the renter pool and supports occupancy stability over time without relying on outsized in-migration assumptions.
Ownership remains a high-cost proposition in this neighborhood relative to incomes (value-to-income metrics test in the upper national percentiles), which tends to sustain reliance on multifamily rentals and can support pricing power for well-located, well-maintained assets. Average school ratings in the area are above national medians, a plus for family-oriented renter demand.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area scores below the national median on crime percentiles, suggesting investors should underwrite prudent security and insurance assumptions. However, within the Chico metro the neighborhood s crime rank sits well above the metro median among 74 neighborhoods, indicating comparatively stronger performance locally.
Investors typically find that visible property upkeep, lighting, and resident engagement help maintain leasing performance in submarkets with mixed safety signals; underwriting should reflect these operational considerations rather than rely on rapid improvement.
The surrounding area functions as a regional services hub with healthcare, education, and retail driving much of the day-to-day employment base that supports renter demand and commute convenience for workforce households.
Built in 1980, this 80-unit property sits slightly older than the neighborhood s average vintage, creating a clear path for targeted value-add: systems updates, exterior refresh, and interior modernization can improve competitive positioning against younger stock while supporting rent trade-outs. Based on commercial real estate analysis from WDSuite, neighborhood occupancy trends hover in the high-80s with a renter-occupied share well above the metro median signals that the tenant base is deep and leasing can remain consistent with solid operations.
Within a 3-mile radius, recent population growth and faster household expansion, alongside projections for continued household gains and smaller household sizes, point to a larger renter pool over the medium term. Elevated ownership costs in the neighborhood context further reinforce reliance on multifamily, supporting pricing power for renovated units when balanced against local affordability (rent-to-income near 24%).
- Deep renter base and amenity-rich location support day-to-day leasing stability
- 1980 vintage offers tangible value-add scope to close the gap with newer stock
- Household growth and smaller household sizes within 3 miles expand the renter pool
- High-cost ownership environment underpins sustained multifamily demand and potential pricing power
- Risks: below-national safety percentiles and CapEx for aging systems warrant conservative underwriting