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406 Panama Avenue — Chico | Belmont Brokerage | Belmont Brokerage

Active

+47 more

$585,000

182 DOM

— bd— ba— sqft

Call

406 Panama Ave Chico, CA 95973

1.51acre lot

Welcome to 406 Panama Avenue! This is a one-of-a-kind property in the heart of Chico. Not only is the lot size over 1.5 acres but it comes with a quality, mid-century 2,756 square foot home that boasts 4 bedrooms, 2 bathrooms, arched doorways, hardwood floors, sunny window seats, 2 fireplaces, large laundry room, extra-large family room and the list goes on. This property is zoned Light Manufacturing which allows for business, agricultural, manufacturing uses and more. This is an ideal live-work situation for someone looking to run their business and live in a charming home all in one place! The home and yard occupy .7 acres and the remaining .81 acres is fully fenced and gated, awaiting your imagination and creativity for the multitude of uses allowed. The long paved driveway, backyard paved parking pad and attached garage offer the ideal setup for multiple vehicles, recreational vehicles, boats, trailers, and more. All combined, this is one of the most unique, in-town Chico properties to come to the market in years. Don’t miss out on this one!

MLS SN25239736

888-584-9427 (Office) 5303215951 (Cell) elke@hometownchico.com

Est. payment

$3,738/mo

Principal & interestTaxesInsurance

$2,958$609$171

Down %

Rate %

Years

Down payment: $117,000 · Total cost: $1,181,908

Mortgage vs rent

Compare estimated owner carrying cost (same loan math as above) to a gross rent estimate from a price-based multiplier (not a comp lease).

Est. carrying cost$3,738/mo

Principal & interest: $2,958
Est. property tax: $609
Est. insurance: $171
Down payment: $117,000

Est. gross rent$2,438/mo

Gross rent ≈ list price ÷ (20 × 12). Adjust the multiplier to match how you underwrite (typical investor GRM bands are often ~16–24 for SFR, market-dependent).

Rent − carrying cost (illustrative)$-1,300/mo

Down payment20%

6.5% APR, 30-year amortization — same P&I formula as the payment calculator above.

Gross rent multiple (annual)20×

Not financial advice. Mortgage uses standard amortizing P&I; taxes and insurance are rough California-style estimates (1.25% / yr tax, 0.35% / yr insurance). Rent is gross (no vacancy or management); actual market rent requires comps or a lease listing.

Price History

Event	Date	Price	Change
Listed	Sep 17, 2025	$620,000	—

Facts & Features

Transaction Data

▼Price Reduced from $620,000 (−$35,000)

Structure & Property

Year Built1948

888-584-9427 (Office) 5303215951 (Cell) elke@hometownchico.com

Sale & Tax History

No Recent Sales History

We didn't find any closed transactions for this property in the last 5 years.

Location

406 Panama Avenue, Chico, CA 95973

Get Directions

Call

406 Panama Ave Chico, CA 95973

About this home

Elke Haldorson

Est. monthly payment

Mortgage vs rent

Price History

Facts & Features

Transaction Data

Structure & Property

Elke Haldorson

Sale & Tax History

No Recent Sales History

Location

Location

Open Houses

Listing Agent

Presented by Belmont Brokerage Inc.

406 Panama Avenue, Chico, CA 95973

About This Property

Property Photos

406 Panama Ave Chico, CA 95973

About this home

Elke Haldorson

Est. monthly payment

Mortgage vs rent

Price History

Facts & Features

Transaction Data

Structure & Property

Elke Haldorson

Sale & Tax History

No Recent Sales History

Location

Location

Open Houses

Listing Agent

Presented by Belmont Brokerage Inc.