514 E Victory Avenue, Banning, California 92220, Banning, 92220 - 3 bed, 2 bath
ACTIVE$999,999
514 E Victory Avenue, Banning, California 92220
3Beds
2Baths
1,512Sqft
95,832Lot
Year Built
1964
Close
-
List price
$1,000K
Original List price
$1,000K
Price/Sqft
$661
HOA
-
Days on market
-
Sold On
-
MLS number
IV25098201
Home ConditionFair
Features
Good View: Hills, Mountain(s)
Patio
ViewHills, Mountain(s)
About this home
Possibly Over-Priced:The estimated price is 22% below the list price. We found 3 Cons,6 Pros. Rank: price - $1000.0K(99th), sqft - 1512(37th), beds - 3(50th), baths - 2(50th).
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.
Condition Rating
Fair
Built in 1964, the property is aged but appears to be maintained and functional. The living room has hardwood floors in decent condition. One bathroom has been updated, likely 15-20 years ago, with a newer vanity and tiled shower, though the style is not current. However, the kitchen is very dated with original or very old cabinets, laminate countertops, and older white appliances, requiring a full renovation. While the kitchen needs significant updates, the overall home does not show signs of major structural defects or safety issues that would categorize it as 'Poor'. It is livable but shows its age and requires substantial cosmetic and functional updates in key areas, particularly the kitchen.
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: The property boasts over 2.2 acres (95,832 sqft) of flat, usable land, offering significant versatility for various uses.
Development Potential: The large lot and corner location provide substantial potential for future expansion, including the possibility of building additional homes.
Desirable Corner Lot: Situated on a corner lot, enhancing accessibility, privacy, and flexibility for property layout or future development.
Scenic Views: The property offers desirable views of hills and mountains, adding to its aesthetic appeal.
Practical Amenities: Includes a detached 2-car garage for ample storage and workspace, along with a fenced-in yard around the house for added privacy and security.
Cons
Significant Overpricing: The current list price of $999,999 is substantially higher than the estimated property value of $774,841, potentially impacting market competitiveness and buyer interest.
Age and Condition of Home: Built in 1964, the existing 3-bedroom, 2-bathroom home's description does not indicate any significant modern updates, suggesting potential for required renovations and deferred maintenance.
Lack of Modern Upgrades/Efficiency: There is no mention of energy-efficient features or recent system upgrades (e.g., HVAC, solar, roof) that are often found in comparable properties, which could lead to higher operating costs and less appeal to modern buyers.