1010 E Nicolet Street, Banning, California 92220, Banning, 92220 - 3 bed, 2 bath
1010 E Nicolet Street
Banning, California 92220
Property Price
SUMMARY
Analysis of 1010 E Nicolet Street, Banning, California 92220 reveals a property with a current list price of $385,000, which is 20% above the estimated $319,197 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Banning Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1010 E Nicolet Street Subject | $385,000* List Price | 3 | 2 | 1,042 | $306 | - |
A 231 N Allen Sold | $367,000 | 3 | 1 | 1,040 | $353 | 0.2 mi |
B 1280 N Murray St Sold | $400,000 | 3 | 2 | 906 | $442 | 0.8 mi |
C 1354 N Hermosa Avenue Sold | $420,000 | 3 | 2 | 1,421 | $296 | 0.6 mi |
D 1291 N Almond Way Active | $340,000 List Price | 3 | 2 | 1,104 | $308 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is extensive renovation needed.
Built in 1924, this property is nearly a century old. The images reveal a very dated kitchen with old appliances (likely 30+ years old), and the presence of window AC units indicates a lack of central cooling, suggesting outdated HVAC systems. While the home appears functional, it requires substantial repairs and rehabilitation, including major system upgrades and a complete kitchen and bathroom renovation, to meet modern living standards. The overall condition points to significant deferred maintenance and a need for considerable investment.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8712, living area = 1042.
- Approved Short Sale
The property is an approved short sale, presenting a significant opportunity for investors and first-time home buyers to acquire a property potentially below market value.
- Broad Buyer Appeal
Explicitly marketed to 'investors and first-time home buyers,' indicating a strategic price point and potential for either rental income or an affordable entry into homeownership.
CONSRISKS & DEFICIENCIES
- Historic Age
Built in 1924, the home is nearly a century old, suggesting a high likelihood of requiring significant updates to its infrastructure, systems, and overall aesthetics.
- Short Sale Process Complexity
While offering a potential financial advantage, short sales are typically more complex and time-consuming transactions, often involving extended negotiation periods and potential delays.
- Modest Interior Square Footage
At 1,042 sqft for 3 bedrooms, the interior living space is relatively compact, which may be a limiting factor for buyers seeking more expansive living areas.
About 1010 E Nicolet Street
Calling all investors and first-time home buyers!!! Approved short sale! The home offers 3 bedroom and 1.75 bath.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1924
- Lot Size
- 8,712 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,042 | 1,683 | 9% |
| Lot Size | 8,712 | 6,098 | 78% |
| Price | $385.0K | $450.0K | 30% |
| Price per sq ft | $369 | $261 | 89% |
| Built year | 1924 | 1997 | 1% |
| HOA | $0 | $202 | 31% |
| Days on market | 395 | 199 | 97% |
Pricing History
Listed for Sale
Feb 5, 2025
$385,000
Initial Listing