238 Dawn Way, Banning, California 92220, Banning, 92220 - 2 bed, 1 bath
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Banning, California 92220
This property presents a High-Potential Investment Opportunity with a List Price of $259,000—positioned well above the $228,794 Fair Market Value by -13%. While the current rental yield is below market, the property offers a stable, long-term Section 8 tenant in a quiet 55+ community. With a Condition Rating of 4, the home requires strategic updates to modernize its 820 sqft footprint. Featuring Scenic Mountain Views, this asset is best suited for Buy-and-Hold Investors or Value-Add Investors focused on long-term portfolio stabilization.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 238 Dawn Way Subject | $254,000* List Price | 2 | 1 | 820 | $292 | - |
A 5464 Evelyn Drive Sold | $275,000 | 2 | 1 | 851 | $323 | 0.0 mi |
B 158 Beverly Pending | $279,900 List Price | 2 | 1 | 831 | $337 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1980 (44 years old) and lacks mention of recent renovations. While functional and occupied by a long-term tenant, the exterior shows signs of deferred maintenance such as a cracked driveway and aged roof. The low rental income and age suggest the kitchen, baths, and systems are dated and will require updates to meet modern standards.
Situated in the peaceful Peacock Valley senior community, the home offers convenient proximity to medical offices, hospitals, and local shopping, catering perfectly to its target demographic.
The property includes a long-term Section 8 tenant, providing immediate and reliable monthly rental income for investors looking for a stabilized asset.
The home boasts beautiful mountain and neighborhood views, enhancing the overall tranquility and aesthetic appeal of the property.
The current monthly rent of $790 is relatively low compared to the $259,000 list price, which may result in a lower-than-average capitalization rate for potential investors.
With only 820 square feet of living space and a single bathroom, the small footprint may limit appeal for buyers desiring more spacious interiors or guest accommodations.
Delightful home in a quiet peaceful neighborhood for residents aged 55 and over! Excellent location near stores, restaurants, medical offices and hospital. Fenced backyard. Occupied by a long-time Sec 8 tenant, monthly rental income $790 a month.
No exterior & parking available.
Grades K-5 • 1.0 mi
Grades 6-8 • 2.1 mi
Grades 9-12 • 3.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 37% |
| Baths | 1.0 | 2.0 | 12% |
| Square foot | 820 | 1,697 | 3% |
| Lot Size | 4,356 | 6,534 | 19% |
| Price | $254.0K | $449.0K | 3% |
| Price per sq ft | $310 | $263 | 79% |
| Built year | 1980 | 1997 | 24% |
| HOA | $108.0 | $195 | 41% |
| Days on market | 7 | 176 | 1% |
Jun 5, 2026
$254,000
$259,000
-2% Price Drop
Initial Listing
May 30, 2026
$259,000
Initial Listing
Sep 26, 2003
$70,000
Public Record