3138 W Nicolet, Banning, California 92220, Banning, 92220 - 4 bed, 2 bath
3138 W Nicolet
Banning, California 92220
Property Price
SUMMARY
Analysis of 3138 W Nicolet, Banning, California 92220 reveals a property with a current list price of $415,000, which is 8% above the estimated $383,970 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. 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 both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
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 | $410 | - |
A 2288 W Williams Street Sold | $400,000 | 2 | 1 | 924 | $433 | 0.5 mi |
B 672 N 17th Sold | $449,000 | 3 | 2 | 1,293 | $347 | 0.9 mi |
C 2174 W Monroe Street Sold | $399,000 | 3 | 2 | 1,104 | $361 | 0.8 mi |
D 1188 Aspen Lane Sold | $442,500 | 3 | 2 | 1,133 | $391 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
Although originally built in 1959, the property has undergone significant interior renovations that make it move-in ready. The kitchen is updated with modern white cabinetry, stone countertops, a tile backsplash, and stainless steel appliances. Bathrooms feature contemporary vanities and updated tile work in the showers. The home has consistent laminate wood-look flooring and updated light fixtures/ceiling fans throughout. While the exterior and yard are relatively basic and the property is sold 'as-is,' the interior quality and the addition of a functional ADU meet the standards for a 'good' condition rating.
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 = 7841, living area = 936.
- Income Potential
The property includes a 300 sqft ADU, providing a strategic opportunity for rental income, multigenerational living, or a private home office.
- Scenic Mountain Views
The home features desirable mountain views, adding significant aesthetic value and a sense of tranquility to the living environment.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
- Recently Sold Property
The property was recently sold within the past year on 2025-03-05. The sold price is $310,000.00.
- As-Is Condition
The property is sold in as-is condition with no warranties, which may necessitate immediate capital expenditure for repairs or upgrades.
About 3138 W Nicolet
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1959
- Lot Size
- 7,841 Sq. Ft.
Interior
- Total Bedrooms
- 4
- 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 | 4.0 | 3.0 | 77% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 936 | 1,683 | 6% |
| Lot Size | 7,841 | 6,098 | 74% |
| Price | $415.0K | $450.0K | 38% |
| Price per sq ft | $443 | $261 | 98% |
| Built year | 1959 | 1997 | 12% |
| HOA | $0 | $202 | 31% |
| Days on market | 8 | 199 | 0% |
Pricing History
Listed for Sale
Feb 27, 2026
$415,000
Initial Listing
Sold
Mar 5, 2025
$310,000
Public Record
Sold
Dec 16, 2022
$285,000
Public Record
Sold
Jun 20, 2013
$113,000
Public Record
Sold
Feb 1, 2013
$60,000
Public Record
Sold
Sep 22, 1993
$75,000
Public Record