NOT LISTED FOR SALE

562 Morgan Dr Chico, CA 95973

Estimated Value: $577,000 - $590,000

6 Beds
4 Baths
2,538 Sq Ft
$229/Sq Ft Est. Value

Last Sold September 29, 2023

Last sale price $550,000 $217 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $3,589/month

75 Days on Market

Highlights

  • Contemporary Architecture
  • 1 Car Direct Access Garage
  • Laundry Room
  • Bidwell Junior High School Rated A-
  • Double Pane Windows
  • Central Heating and Cooling System

About This Home

As of September 2023

Fabulous Townhouse style duplex on a corner lot in North Chico with two identical units. Each unit features 3 bedrooms and 2 full bathrooms, approximately 1269 sf, indoor laundry room with a single car garage with a good size yard in a great neighborhood.
This home offers an open floor plan downstairs features the kitchen, family room and dining area with a full bathroom, upstairs offers 3 bedrooms and a full bath. The back yard is large enough for gardening or a place for kiddos to run around.
Each unit pays flat fee of $125 per month for water and sewer fee they also pay for all utilities and maintaining the yard.

Last Agent to Sell the Property

Sima Saboury

Porchlight Real Estate Brokers License #01792124 Listed on: 06/11/2023

Last Buyer's Agent

Pamela Dukes

Shore Line Realty, Inc. License #01130999

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2006

Lot Details

  • 6,970 Sq Ft Lot
  • 1 Common Wall
  • Wood Fence
  • Density is 2-5 Units/Acre

Parking

  • 1 Car Direct Access Garage
  • Parking Available
  • Driveway

Home Design

  • Duplex
  • Contemporary Architecture
  • Entry on the 1st floor
  • Cosmetic Repairs Needed
  • Slab Foundation
  • Stucco

Interior Spaces

  • 2,538 Sq Ft Home
  • 2-Story Property
  • Double Pane Windows

Kitchen

  • Six Burner Stove
  • Dishwasher

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 6 Bedrooms
  • All Upper Level Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • 220 Volts In Laundry

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Suburban Location

Utilities

  • Central Heating and Cooling System
  • 220 Volts in Kitchen
  • Natural Gas Not Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for all utilities, cable TV, electricity, exterior maintenance, gas, sewer, water
  • Tax Lot 29
  • Assessor Parcel Number 007220053000

Community Details

Overview

  • 2 Buildings
  • 2 Units

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Insurance Expense $2,500
  • Professional Management Expense $7
  • New Taxes Expense $7,200
  • Operating Expense $14,000
  • Gross Income $32,752
  • Net Operating Income $32,752

Property Details

Home Type

Multi-Family

Year Built

Built in 2006

Lot Details

0

Parking

1

Listing Details

  • Professional Management Expense: 7.00
  • Property Attached: Yes
  • View: No
  • Architectural Style: Contemporary
  • Property Condition: Repairs Cosmetic
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 007220053000
  • Year Built: 2006
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Laminate
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 216.71
  • Room Type: All Bedrooms Up
  • Window Features: Double Pane Windows

Exterior Features

  • Foundation: Slab
  • Exterior Features: Lighting, Rain Gutters
  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Direct Garage Access, Driveway
  • Total Parking Spaces: 1.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Not Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: 6 Burner Stove, Dishwasher
  • Electric: 220 Volts in Kitchen, 220 Volts in Laundry
  • Heating Type: Central
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Gutters, Sidewalks, Storm Drains, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 6970.00
  • Lot Size Acres: 0.1600

Rental Info

  • Tenant Pays: All Utilities, Cable TV, Electricity, Exterior Maintenance, Gas, Sewer, Water

Multi Family

  • Gross Income: 32752.00
  • Gross Operating Income: 32752.00
  • Gross Scheduled Income: 46752.00
  • Gross Spendable Income: 2500.00
  • Insurance Expense: 2500.00
  • Lot Size Area: 6970.0000 Square Feet
  • Net Operating Income: 32752.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Operating Expense: 14000.00
  • Rent Control: No
  • Total Expenses: 14000.00

Tax Info

  • New Taxes Expense: 7200.00
  • Tax Census Tract: 2.01
  • Tax Lot: 29

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 11, 2023
Closed on
Sep 29, 2023
Sold by
Mubaraka Adel and Mubaraka Mountaha
Bought by
Harrison Family Trust and Harrison
Seller's Agent
Sima Saboury
Porchlight Real Estate Brokers
Buyer's Agent
Pamela Dukes
Shore Line Realty, Inc.
List Price
$685,000
Sold Price
$550,000
Premium/Discount to List
-$135,000
-19.71%
Views
178
Current Estimated Value
$581,671

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$31,671
Avg. Annual Appreciation
2.46%

Purchase Details

Listed on
Mar 14, 2019
Closed on
Apr 10, 2019
Sold by
Egan Patrick
Bought by
Mubaraka Adel and Mubaraka Moutaha
Seller's Agent
Kendra DiGrazia
Ballou Company
Buyer's Agent
Sima Saboury
Porchlight Real Estate Brokers
List Price
$495,000
Sold Price
$503,500
Premium/Discount to List
$8,500
1.72%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.00%

Purchase Details

Closed on
Dec 3, 2017
Sold by
Egan Patrick
Bought by
Egan Patrick and Patrick Egan Revocable Trust

Purchase Details

Closed on
Feb 17, 2016
Sold by
Egan Patrick and Egan Patrick
Bought by
Egan Patrick

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$258,750
Interest Rate
3.81%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 12, 2016
Sold by
Egan Pamela
Bought by
Egan Patrick

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$258,750
Interest Rate
3.81%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 15, 2005
Sold by
Linkside Place Inc
Bought by
Egan Patrick

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$112,500
Interest Rate
5.93%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Purchase History

Date Buyer Sale Price Title Company
Harrison Family Trust $550,000 Mid Valley Title
Mubaraka Adel $503,500 Bidwell Title & Escrow Co
Egan Patrick -- None Available
Egan Patrick -- Mid Valley Title & Escrow Co
Egan Patrick -- Mid Valley Title & Escrow Co
Egan Patrick $150,000 Mid Valley Title & Escrow Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Egan Patrick $258,750
Previous Owner Egan Patrick $258,750
Previous Owner Egan Patrick $112,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/29/2023 09/29/23 Sold $550,000 0.0% $217 / Sq Ft
08/25/2023 08/25/23 Pending -- -- --
08/23/2023 08/23/23 Price Changed $550,000 -19.7% $217 / Sq Ft
06/11/2023 06/11/23 For Sale $685,000 +36.0% $270 / Sq Ft
04/18/2019 04/18/19 Sold $503,500 +1.7% $198 / Sq Ft View Prior Sale
03/16/2019 03/16/19 Pending -- -- --
03/14/2019 03/14/19 For Sale $495,000 -- $195 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,567 $561,000 $193,800 $367,200
2024 $6,567 $550,000 $190,000 $360,000
2023 $6,452 $539,851 $160,829 $379,022
2022 $6,231 $529,267 $157,676 $371,591
2021 $6,217 $518,890 $154,585 $364,305
2020 $6,202 $513,570 $153,000 $360,570
2019 $6,351 $526,766 $183,753 $343,013
2018 $4,722 $385,000 $130,000 $255,000
2017 $4,569 $375,000 $125,000 $250,000
2016 $3,912 $345,000 $125,000 $220,000
2015 $3,968 $345,000 $125,000 $220,000
2014 $3,941 $340,000 $125,000 $215,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SN23103282

California Regional Multiple Listing Service (CRMLS)

APN: 007-220-053-000