| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 62nd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2162 Hartford Dr, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 2011 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2162 Hartford Dr, Chico CA Multifamily Investment
2011-vintage, 20-unit asset positioned in a renter-heavy inner suburb with steady tenant demand, according to WDSuite’s CRE market data. Newer construction versus local stock supports competitive positioning and operational durability.
This inner-suburb location in Chico combines day-to-day convenience with a favorable renter profile for multifamily owners. Neighborhood amenities test well: cafes and restaurants rank competitive among 74 metro neighborhoods and fall in the top quartile nationally, helping with leasing velocity and resident retention. Average school ratings are also above many peers locally, which can support family-oriented tenancy.
Relative to the metro, the neighborhood’s housing stock skews newer than average (local average construction year is 1991), while this property’s 2011 vintage gives it a competitive edge versus older inventory. That positioning can reduce near-term capital needs, though periodic system upgrades and modernization should still be budgeted over the hold.
Renter-occupied housing accounts for roughly three-fifths of neighborhood units, indicating a deep tenant base for multifamily. Neighborhood occupancy is in the high-80s; while not top-of-market, it supports stable collections with disciplined leasing and renewals. Median rents in the area have grown over the past five years, and the rent-to-income profile suggests manageable affordability pressure, an important lever for pricing power and lease management in commercial real estate analysis.
Within a 3-mile radius, demographics indicate a growing household base and smaller average household size over recent years, trends that typically expand the renter pool and support occupancy stability. Forward-looking projections show households continuing to rise even as average household size trends lower, which can translate to a larger number of potential renters over time.
Ownership costs in the neighborhood sit on the higher side relative to incomes (elevated value-to-income metrics), which tends to sustain reliance on rental housing. For investors, that backdrop supports retention and reduces move-out to ownership risk compared with more accessible for-sale markets.
Safety indicators for this neighborhood trend below both metro and national averages. With a rank near the lower end among 74 Chico neighborhoods and national percentiles in the lower quartiles, investors should underwrite for a more security-conscious operating plan (lighting, access controls, partnerships with local patrols) to support resident satisfaction and retention.
Recent trends are mixed: property-related incidents have been largely flat year over year, while violent incidents show a recent uptick. Framing risk in comparative terms rather than block-by-block, prudent measures and tenant screening can help manage exposure and protect cash flows.
2162 Hartford Dr offers a 2011 construction profile in a submarket where much of the surrounding stock is older, supporting competitive positioning and fewer near-term capital items relative to legacy assets. The neighborhood shows strong amenity access and above-median school ratings locally, which align with demand drivers for stable occupancy. Within a 3-mile radius, recent household growth and smaller household sizes point to a larger tenant base and support for rent rolls over time. According to CRE market data from WDSuite, the area remains renter-oriented, reinforcing depth of demand for a 20-unit community.
Counterbalancing factors include neighborhood safety indicators that trail metro and national norms and occupancy that sits below top-tier submarkets, warranting conservative underwriting and active asset management. Even so, elevated ownership costs versus incomes in the neighborhood tend to sustain rental reliance, and the property’s newer vintage can provide operating efficiency with selective modernization to enhance returns.
- 2011-vintage asset outcompetes older neighborhood stock, reducing near-term capex while allowing targeted upgrades.
- Renter-oriented neighborhood and household growth within 3 miles support tenant demand and occupancy stability.
- Strong amenity access and solid local schools aid leasing velocity and renewals.
- Risks: below-average safety metrics and mid-tier neighborhood occupancy warrant conservative underwriting and proactive management.