3138 W Nicolet, Banning, California 92220, Banning, 92220 - 4 bed, 2 bath
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Banning, California 92220
This Income-Generating Residential Asset is listed at $415,000, positioned near its $391,124 Fair Market Value. Currently holding a Condition Rating of 4, the property offers significant strategic upside through its 300 sq ft ADU, ideal for rental income or a private home office. Situated on a Large 7,841 Sqft Lot with stunning Mountain Views, the home features a high-utility 4-bedroom layout. Sold in As-Is Condition, this is a prime acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add project in the Banning Unified School District.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3138 W Nicolet Subject | $415,000* List Price | 4 | 2 | 936 | $418 | - |
A 259 S 22nd Sold | $368,000 | 2 | 1 | 1,015 | $363 | 0.7 mi |
B 3502 White Oak Drive Sold | $490,000 | 3 | 2 | 1,133 | $432 | 0.4 mi |
C 2288 W Williams Street Sold | $400,000 | 2 | 1 | 924 | $433 | 0.5 mi |
D 672 N 17th Sold | $449,000 | 3 | 2 | 1,293 | $347 | 0.9 mi |
E 3087 W George Street Sold | $411,000 | 3 | 1 | 1,020 | $403 | 0.2 mi |
F 1645 W Hays Street Active | $395,000 List Price | 2 | 1 | 826 | $478 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1959, the property shows a mix of partial updates and dated features. While the main kitchen has an updated backsplash and dark cabinetry, it retains older tile countertops and mismatched white appliances. Interior photos reveal unfinished renovation work in the ADU/secondary living space, and the presence of wall-mounted AC units suggests the lack of a modern central HVAC system. The 'as-is' condition and unkempt yard further support a fair rating, as the home is livable but requires modernization and completion of repairs.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7841, living area = 936.
The property features a 300 sq ft ADU, offering a strategic opportunity for rental income, guest quarters, or a private home office to offset mortgage costs.
Situated on a generous 7,841 sq ft lot, the property provides ample outdoor space for personalization and features desirable mountain views.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
The property is sold in as-is condition with no warranties, placing the full burden of repairs and due diligence on the buyer.
At 936 sq ft for the main structure, the living areas may feel constrained for a 4-bedroom home, and the 1959 construction may require system updates.
Welcome to 3138 W Nicolet St, Banning — a versatile property offering exceptional value and flexibility. This well-maintained home features a thoughtfully designed floor plan with comfortable living spaces and a seamless flow ideal for everyday living and entertaining. A standout feature is the approximately 300 sq ft ADU, perfect for multigenerational living, rental income, guest quarters, or a private home office. This added unit creates a strategic opportunity for supplemental cash flow or long-term investment upside. Situated on a spacious lot in a desirable Banning neighborhood, the property offers outdoor space with room to personalize. Conveniently located near shopping, dining, schools, and easy freeway access for commuters. Whether you're an owner-occupant looking for flexibility or an investor seeking income potential, this property checks the boxes. Don’t miss the opportunity to secure a home with built-in value and growth potential. THE BUYER HAS TO DO THEIR DUE DILIGENCE, AND THE PROPERTY IS SOLD AS IS WITH NO WARRANTY FROM THE SELLER OR THE AGENT. Info deemed reliable, although not guaranteed. Any number. Statements, dimensions, and/or lot size are APPROXIMATIONS and have not been verified by the seller or broker. The buyer is advised to investigate the condition and suitability of all aspects of the property.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 81% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 936 | 1,683 | 6% |
| Lot Size | 7,841 | 6,286 | 73% |
| Price | $415.0K | $442.7K | 41% |
| Price per sq ft | $443 | $263 | 99% |
| Built year | 1959 | 1995 | 13% |
| HOA | $0 | $202 | 33% |
| Days on market | 54 | 197 | 3% |
Feb 27, 2026
$415,000
Initial Listing
Mar 5, 2025
$310,000
Public Record
Dec 16, 2022
$285,000
Public Record
Jun 20, 2013
$113,000
Public Record
Feb 1, 2013
$60,000
Public Record
Sep 22, 1993
$75,000
Public Record