
Banning, California 92220
This Value-Add Vintage Asset is listed at $400,000, reflecting a strategic price point relative to its $357,082 Fair Market Value and significant development upside. Holding a Condition Rating of 4, the 1920s residence sits on a generous 7,841 Sqft Lot and includes Engineered ADU Plans for immediate expansion. The Massive Attic Footprint provides a rare opportunity to increase square footage without foundation work. Located in the Banning Unified School District, this property is a prime acquisition for Value-Add Investors or Creative Renovators focused on forced appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 485 Nicolet St Subject | $385,000* List Price | 2 | 1 | 976 | $374 | - |
A 1137 W Williams Sold | $405,000 | 3 | 1 | 1,003 | $404 | 0.4 mi |
B 457 Nicolet Sold | $300,000 | 2 | 1 | 669 | $448 | 0.0 mi |
C 1645 W Hays Street Sold | $380,000 | 2 | 1 | 826 | $460 | 0.8 mi |
D 1264 N Hargrave Sold | $275,000 | 2 | 1 | 853 | $322 | 1.0 mi |
E 526 W Hoffer Street Sold | $375,000 | 3 | 2 | 1,260 | $298 | 0.4 mi |
F 1280 N Murray St Sold | $400,000 | 3 | 2 | 906 | $442 | 0.7 mi |
G 666 Fashion Way Sold | $330,000 | 3 | 2 | 1,044 | $316 | 0.7 mi |
H 910 W George Active | $449,900 List Price | 2 | 2 | 930 | $484 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1920, this home is well-preserved but dated. While it features some cosmetic updates like newer vinyl plank flooring and fresh paint, the kitchen and systems are older. The presence of a wall heater and older water heater suggests dated HVAC/plumbing, and the 100+ year age implies a need for minor repairs and modernization to meet current standards.
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 = 976.
The property comes with completed engineered plans for an ADU on a generous 7,841 sqft lot, providing an immediate opportunity for value-add, rental income, or multi-generational living.
A massive attic space that matches the home's footprint offers rare potential to significantly increase the living square footage and equity without expanding the building's foundation.
With only 976 square feet and a single bathroom, the current layout may be restrictive for modern families or buyers seeking more contemporary space and convenience.
Built in 1920, the property may require ongoing maintenance or costly updates to aging systems such as plumbing, electrical, and insulation typical of homes over 100 years old.
Step into the charm and character of a true 1920s vintage home at 485 Nicolet St. in Banning—a rare opportunity packed with timeless appeal and incredible upside potential. From the moment you arrive, you’ll appreciate the classic architecture, inviting presence, and unique features that make this property stand out from the rest. Inside, this 2-bedroom, 1-bath home offers spacious living areas filled with natural light and original charm. Both bedrooms feature walk-in closets, an uncommon luxury for a home of this era, providing ample storage and functionality. The home’s warm and welcoming layout creates the perfect blend of vintage character and everyday comfort. One of the property’s most exciting features is the expansive attic space, approximately matching the home’s footprint, offering endless possibilities for future expansion, additional living space, a creative studio, home office, or private retreat (buyer to verify). Opportunities like this are becoming increasingly rare. Outside, the detached 1-car garage and generously sized lot provide additional flexibility and room to grow. Adding even more value, engineered ADU plans have already been completed—creating a tremendous opportunity for rental income, multi-generational living, or increased long-term property value. Whether you’re an investor searching for upside potential, a buyer looking for a home with soul and character, or someone ready to create their dream property, this home delivers endless possibilities. Conveniently located near shopping, dining, schools, and freeway access, 485 Nicolet is more than just a home—it’s an opportunity to own something truly special. Homes with this much charm, character, and future potential rarely come available.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 976 | 1,574 |
| Lot Size | 7,841 | 5,523 |
| Price | $385.0K | $437.6K |
| Price per sq ft | $394 | $260 |
| Built year | 1920 | 2001 |
| HOA | $0 | $220 |
| Days on market | 82 | 79 |
Jul 10, 2026
$385,000
$400,000
-4% Price Drop
Initial Listing
May 1, 2026
$400,000
Initial Listing
Mar 2, 2018
$216,500
Public Record
Sep 29, 2017
$137,000
Public Record
Dec 2, 1996
$30,000
Public Record