$429,900
-$20,000162 N 3rd, Banning CA 92220
Multi-Family (Duplex)
Property type
37 days
On market
$343
Price per sqft
2 cars
Garage
1915
Year built
6,098 sqft
Lot size
Open Houses
Overview
Great investment opportunity in the heart of Banning! This versatile duplex features two separate units with individual electric and gas meters, making it ideal for rental income or multi-generational living. The front unit offers 1 bedroom and 1 bathroom, complete with its own private fenced front yard, four dedicated parking spaces, and an extended driveway for added...
Listing provided by: Arturo Hernandez DRE #01745501, REALTY MASTERS & ASSOCIATES
Listing updated: May 11, 2026 at 11:03pm.
Last checked: Jun 4, 2026 at 08:00am
Source: CRMLS #CV26091796
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 1 | 1 | 1 | $805 | — | $1,500 | Unfurnished |
| 1 | 2 | 1 | 1 | $0 | — | $1,850 | Unfurnished |
# of Buildings: 2
# of Units Total: 2
Separate Electric Meters: 2
Separate Gas Meters: 2
Separate Water Meters: 1
Rent Control: No
Financial Snapshot
Gross Rent Multiplier
44.5x
List Price / Annual Gross Rent
Cap Rate
1.72%
NOI / List Price
Gross Scheduled Income: $9,660
Operating Expense: $2,271
Net Operating Income: $7,389
Annual Operating Expenses
Gardener: $600
Insurance: $811
Licenses: $35
Trash: $379
Water / Sewer: $445
Interior
Cooling: Wall Window Units
Heating: None
Laundry: Laundry Room
Entry Location: 1
Exterior
Property Attached: No
Stories Total: 1
Levels: One
Common Walls: No Common Walls
Lot Features: Back Yard, Front Yard
Pool: None
Water Source: Public
Sewer: Public Sewer
Garage and Parking
Garage Spaces: 2
Parking Total: 2
Lot Information
Land Lease: No
Common Interest: None
Parcel #: 540162013
Additional Parcels: No
Tax Lot: 7
Tax Block: 223
Community
Senior Community: No
Community Features: Street Lights, Sidewalks
Nearby Schools
Nearby schools around the 162 N 3rd, Banning, CA 92220. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$343,920
Total Interest
$438,651
Total Payment
$782,571
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$2,772
per month
Property History for 162 N 3rd
Banning Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 92220.
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