514 E Victory, Banning, California 92220, Banning, 92220 - 3 bed, 2 bath
ACTIVE$875,000$1,512/sqft
Est. Value: $835,230
-4%
AboveEstimate
514 E Victory, Banning, California 92220
3Beds
2Baths
1,512Sqft
95,832Lot
Price Vs. Estimate
The estimated value ($835,230.455) is $39,769.545 (4%) lower than the list price ($875,000). This property may be overpriced.
Key pros and cons
Top Pros:
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 = 95832, living area = 1512.
Top Cons:
Age of Existing Home: Built in 1964, the existing 3-bedroom, 2-bathroom home is older, suggesting potential needs for updates to systems, finishes, and energy efficiency to meet modern buyer expectations.
Compared to the nearby listings
Price:$875.0K vs avg $459.3K (+$415,661)98%
Size:1,512 sqft vs avg 1,678 sqft40%
Price/sqft:$579 vs avg $264100%
More Insights
Built in 1964 (62 years old).
Condition: Built in 1964, this home is aged but appears to be maintained. The kitchen is significantly outdated with older white appliances, laminate countertops, and dated vinyl flooring, requiring a full renovation. Bathrooms show some minor updates (newer vanities, tiled shower in one) but are not modern. Living areas have decent hardwood floors, but bedrooms have worn carpet. While functional, the property requires substantial cosmetic updates to meet current standards, particularly in the kitchen, but does not show signs of major structural defects or being unsafe.
Year Built
1964
Close
-
List price
$875K
Original List price
$875K
Price/Sqft
$579
HOA
-
Days on market
-
Sold On
-
MLS number
IV26005938
Home ConditionFair
Features
Good View: Mountain(s)
Patio
ViewMountain(s)
About this home
Don’t miss this incredible opportunity to own over 2.2 acres of flat, usable land, perfect for horse lovers, outdoor enthusiasts, or investors looking for development potential. Situated on a desirable corner lot, this property offers ample space for future expansion, including the possibility of building additional homes. The existing 3-bedroom, 2-bathroom home provides comfortable living, featuring a fenced-in yard around the house for added privacy and security. A detached 2-car garage offers plenty of storage and workspace.
S
SUZI TRINIDAD
Listing Agent
Price History
Date
Event
Price
05/15/13
Sold
$159,000
Condition Rating
Fair
Built in 1964, this home is aged but appears to be maintained. The kitchen is significantly outdated with older white appliances, laminate countertops, and dated vinyl flooring, requiring a full renovation. Bathrooms show some minor updates (newer vanities, tiled shower in one) but are not modern. Living areas have decent hardwood floors, but bedrooms have worn carpet. While functional, the property requires substantial cosmetic updates to meet current standards, particularly in the kitchen, but does not show signs of major structural defects or being unsafe.
Pros & Cons
Pros
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 = 95832, living area = 1512.
Expansive, Usable Land: Over 2.2 acres of flat, usable land, offering significant space for various activities such as horse keeping, outdoor recreation, or future expansion.
Strong Development Potential: The property is explicitly highlighted for investors, with the possibility of building additional homes, indicating high future value and versatility.
Desirable Corner Lot: Situated on a corner lot, providing enhanced accessibility, visibility, and potentially more flexible land use options for development or personal use.
Scenic Mountain Views: The property boasts attractive mountain views, contributing to its aesthetic appeal and overall desirability for residents.
Detached 2-Car Garage: A detached 2-car garage offers practical benefits such as ample storage, dedicated workspace, and secure parking, adding functional value to the property.
Cons
Age of Existing Home: Built in 1964, the existing 3-bedroom, 2-bathroom home is older, suggesting potential needs for updates to systems, finishes, and energy efficiency to meet modern buyer expectations.
Modest Home Size: The 1512 sqft home is relatively small compared to the expansive 2.2-acre lot, which might not align with buyers seeking a larger primary residence on such a substantial parcel without further expansion or renovation.
Unspecified Condition/Updates: The description lacks details on recent renovations or modern amenities within the existing home, implying that significant investment may be required to modernize the interior and bring it up to current standards.