NOT LISTED FOR SALE

582 Morgan Dr Chico, CA 95973

Estimated Value: $571,511 - $684,000

6 Beds
4 Baths
2,538 Sq Ft
$244/Sq Ft Est. Value

Last Sold July 07, 2020

Last sale price $525,000 $207 Per Sq Ft

Est. 18% increase in value since last sale

Current estimated payment $3,837/month

3 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Laundry Room
  • Carpet
  • Bidwell Junior High School Rated A-
  • Central Heating and Cooling System
  • Back and Front Yard

About This Home

As of July 2020

Excellent opportunity to own a well maintained townhouse style duplex, conveniently located in North Chico! Identical units feature bright & open floor plan, with kitchen, family room, dining and full bathroom downstairs. Upstairs there are 3 spacious bedrooms, a hallway laundry closet and another full bathroom. Both units also offer mature, low maintenance landscaping with private backyard and garage. No HOA fees to pay, and both units are leased in to 2021. Add this to your investment portfolio today! (Click on the VR tour link to take a look around)

Last Agent to Sell the Property

Steven Depa

Re/Max of Chico License #00813533 Listed on: 06/03/2020

Re/Max of Chico

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,646

Year Built

  • Built in 2006

Lot Details

  • 7,405 Sq Ft Lot
  • 1 Common Wall
  • Back and Front Yard

Parking

  • 2 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 2,538 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 6 Bedrooms
  • All Bedrooms Down
  • 4 Bathrooms

Utilities

  • Central Heating and Cooling System

Listing and Financial Details

  • Tax Lot 4
  • Assessor Parcel Number 007220028000

Community Details

Overview

  • 2 Units

Building Details

  • Rent Control
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,600
  • Trash Expense $636
  • Water Sewer Expense $2,364
  • New Taxes Expense $5,775
  • Operating Expense $10,375
  • Gross Income $2,805
  • Net Operating Income $23,285

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,646

Year Built

Built in 2006

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Water Sewer Expenses: 2364.00
  • Property Type: Residential Income
  • Parcel Number: 007220028000
  • Year Built: 2006
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Vinyl
  • Levels: Two
  • Price Per Square Foot: 206.86
  • Room Type: All Bedrooms Down

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Trash Expense: 636.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Front Yard
  • Lot Size Sq Ft: 7405.00
  • Lot Size Acres: 0.1700

Multi Family

  • Gross Income: 2805.00
  • Gross Scheduled Income: 33660.00
  • Insurance Expense: 1600.00
  • Lot Size Area: 7405.0000 Square Feet
  • Net Operating Income: 23285.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 10375.00
  • Rent Control: Yes
  • Total Expenses: 10375.00

Tax Info

  • New Taxes Expense: 5775.00
  • Tax Census Tract: 2.01
  • Tax Lot: 4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 3, 2020
Closed on
Jun 22, 2020
Sold by
Mendenhall James B and Mendenhall Patricia E
Bought by
Peters David A and Peters Deborah L
Seller's Agent
Steven Depa
Re/Max of Chico
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$525,000
Sold Price
$525,000
Current Estimated Value
$619,128

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$94,128
Avg. Annual Appreciation
3.18%
Original Mortgage
$125,000
Outstanding Balance
$110,803
Interest Rate
3.2%
Mortgage Type
New Conventional
Estimated Equity
$508,325

Purchase Details

Closed on
Jul 19, 2017
Sold by
Mendenhall James
Bought by
Mendenhall James B and Mendenhall Patricia E

Purchase Details

Closed on
Jul 13, 2017
Sold by
Mendenhall James B
Bought by
Mendenhall James B and Mendenhall Patricia E

Purchase Details

Closed on
May 22, 2006
Sold by
Thomas Kevin B
Bought by
Mendenhall James and Mendenhall Patricia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$287,500
Interest Rate
6.52%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Dec 6, 2005
Sold by
Thomas Lisa A
Bought by
Thomas Kevin B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$333,100
Interest Rate
5.63%
Mortgage Type
Construction

Purchase Details

Closed on
Oct 10, 2005
Sold by
Linkside Place Inc
Bought by
Thomas Kevin B and Thomas Lisa A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$333,100
Interest Rate
5.63%
Mortgage Type
Construction
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Peters David A $525,000 Fidelity Natl Ttl Co Of Ca
Mendenhall James B -- None Available
Mendenhall James B -- None Available
Mendenhall James $439,000 Fidelity Natl Title Co Of Ca
Thomas Kevin B -- Mid Valley Title & Escrow Co
Thomas Kevin B $142,500 Mid Valley Title & Escrow Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Peters David A $125,000
Previous Owner Mendenhall James $287,500
Previous Owner Thomas Kevin B $333,100
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/07/2020 07/07/20 Sold $525,000 0.0% $207 / Sq Ft
06/06/2020 06/06/20 Pending -- -- --
06/03/2020 06/03/20 For Sale $525,000 -- $207 / 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 $6,646 $568,276 $162,364 $405,912
2024 $6,646 $557,134 $159,181 $397,953
2023 $6,523 $546,210 $156,060 $390,150
2022 $6,301 $535,500 $153,000 $382,500
2021 $6,285 $525,000 $150,000 $375,000
2020 $6,049 $500,000 $165,000 $335,000
2019 $6,050 $500,000 $165,000 $335,000
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: SN20106394

California Regional Multiple Listing Service (CRMLS)

APN: 007-220-028-000