581 E Hoffer Street, Banning, CA 92220
581 E Hoffer Street, Banning, CA 92220
Property Description
Big lot, great potential, and rental income from day one! This 2-bedroom, 1-bath home offers 959 square feet of living space on an expansive 9,583-square-foot corner lot. With a tenant already in place providing strong rental income, this property presents an appealing opportunity to start or expand your investment portfolio. Inside, you'll find a comfortable living room with abundant natural light, a kitchen featuring ample cabinetry and a gas range, and a separate indoor laundry area. An attached garage and covered front porch add everyday convenience, while the spacious backyard offers room to enjoy the outdoors and beautiful mountain views. A compelling investment opportunity with an established tenancy and a generous corner-lot setting!
Features & Amenities
Property Details
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Current Rates
Comparative Market Analysis
Affordable Tier · 5 active · 5 closed
Not Applicable · Banning · Single Family Residence
Listed in line with the median closed sale of $339,000. Price per sqft ($364) is a 15% discount to closed comps ($429).
Price Position
Aligned with the market — fair pricing for the comps.
Active Properties (5)
Active Comparables
| Address | City | Year | BD | BTH | SqFt | LotSz | LP/SqFt | LP | DIM | Score |
|---|---|---|---|---|---|---|---|---|---|---|
| 934 Almond Way | Banning | 1949 | 2 | 1 | 888 | 9,583 | $394 | $350,000 | 4 | 95 |
| 621 Theodore | Banning | 1945 | 3 | 1 | 784 | 6,534 | $402 | $315,000 | 57 | 84 |
| 481 Martin | Banning | 1934 | 2 | 2 | 932 | 6,098 | $322 | $299,900 | 29 | 82 |
| 582 Almond | Banning | 1935 | 2 | 1 | 495 | 8,276 | $707 | $349,999 | 104 | 76 |
| 1010 Nicolet Street | Banning | 1924 | 3 | 2 | 1,042 | 8,712 | $369 | $385,000 | 324 | 72 |
| Total: 5 · Average | 2.4 | 1.4 | 828.2 | 7,840.6 | $438.8 | $339,979.8 | 103.6 | |||
| Median | 888 | $349,999 | ||||||||
Closed Properties (5)
Closed Comparables
| Address | City | Year | Date | BD | BTH | SqFt | LotSz | LP | SP | SP/SqFt | SP/LP | DIM | Score |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 415 Indian School | Banning | 1955 | 09/21/2026 | 3 | 2 | 988 | 9,583 | $395,000 | $390,000 | $395 | 0.99 | 73 | 85 |
| 376 Fay Street | Banning | 1940 | 09/10/2026 | 2 | 2 | 1,050 | 6,534 | $359,000 | $350,000 | $333 | 0.97 | 99 | 84 |
| 1291 Almond Way | Banning | 1949 | 05/08/2026 | 3 | 2 | 1,104 | 6,534 | $340,000 | $330,000 | $299 | 0.97 | 94 | 81 |
| 1058 Hermosa | Banning | 1932 | 09/22/2026 | 2 | 1 | 500 | 9,148 | $338,950 | $339,000 | $678 | 1.00 | 81 | 81 |
| 685 Allen | Banning | 1947 | 06/03/2026 | 2 | 1 | 680 | 6,098 | $300,000 | $300,000 | $441 | 1.00 | 117 | 81 |
| Total: 5 · Average | 2.4 | 1.6 | 864.4 | 7,579.4 | $341,800 | $341,800 | $429.2 | — | 92.8 | ||||
| Median | 988 | $339,000 | $339,000 | ||||||||||
Market Analysis
List vs Sale $/SqFt
Sale Price Trend
Days on Market
Sale vs List Price
This analysis was generated automatically from MLS data. For an in-depth, human-reviewed valuation, contact Joseph Sardella at josephsardella@gmail.com.