About this home

Possibly Over-Priced:The estimated price is 50% below the list price. We found 3 Cons,6 Pros. Rank: price - $450.0K(48th), sqft - 772(3th), beds - 2(40th), baths - 1(8th).

Incredible Investment Opportunity! Expandable 3-Bedroom Home on RARE Zoned Lot Discover endless potential in this charming 3-bedroom, 1-bath home, ideally situated on a generously sized lot zoned for additional units! Whether you're a first-time investor, seasoned developer, or savvy homeowner looking to expand, this property checks all the boxes. The expansive lot offers space to build ADUs, duplexes, or even more units (buyer to verify), making it an exceptional opportunity to increase value and maximize rental income. Located in a rapidly growing area near shopping, freeways, and public transportation, this home combines immediate livability with serious long-term upside. Don’t miss your chance to own a prime piece of real estate with income-producing potential. Opportunities like this don’t last! WANT MORE GROWTH POTENIAL?? Seller will consider combined offers on neighboring properties listed SW25137712. Not only can you buy a lot with growth opportunities, but the neighboring property also has 4 single units! CALL FOR MORE INFORMATION! DO NOT DISTRUB TENANTS! THAT'S RIGHT - INCOME OPPORTUNITY FROM THE INSTANCE YOU BUY!

Condition Rating

Poor

Built in 1950, this property is 74 years old with no mentioned renovations. The listing description and property analysis explicitly state it 'is likely to require significant updates, renovations, or repairs to meet modern standards.' The complete absence of interior photos, particularly of the kitchen and bathrooms, strongly suggests these areas are in very poor, outdated condition, likely original or last updated decades ago. The exterior appears dated and unmaintained. While currently tenant-occupied, the property requires substantial repairs and rehabilitation to major components and systems to meet modern living standards, aligning with a 'poor' condition score.

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 = 17424, living area = 772.

Development Potential: The property sits on a rare zoned lot, offering significant potential to build additional units such as ADUs, duplexes, or more, maximizing future value and rental income.

Generous Lot Size: With a substantial lot size of 17,424 sqft, there is ample space for expansion, new construction, or multiple dwelling units, supporting its development potential.

Immediate Income Opportunity: The property is currently tenant-occupied, providing immediate rental income from the date of purchase, appealing to investors seeking cash flow.

Strategic Location: Located in a rapidly growing area with convenient access to shopping, freeways, and public transportation, enhancing its long-term appreciation potential.

Scalable Investment Opportunity: The seller is open to combined offers on neighboring properties, including one with four existing units, presenting a unique chance to scale an investment portfolio significantly.

Cons

Significant Overpricing: The listing price of $450,000 is more than double the estimated property value of $222,070.62 and substantially higher than a recently sold comparable property in turnkey condition ($365,000).

Small Living Space: The existing home is relatively small at 772 sqft for 2 bedrooms and 1 bath, which may limit its appeal for owner-occupants not focused on development.

Age and Potential Condition: Built in 1950, the property is likely to require significant updates, renovations, or repairs to meet modern standards, especially given the 'investment opportunity' framing and lack of explicit renovation details.

About this home

Pros

Cons

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676 W Nicolet Street, Banning, California 92220, Banning, 92220 - 2 bed, 1 bath

About this home

Pros

Cons

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI