Duplex with Attached
For Sale
$660,000
530 GILMAN W, Banning, CA 92220
Banning, CA
Property Size2,293 SF
Lot Size0.23 Acres
Price / SF$287.83
Days on Market151
Property Features for 530 GILMAN W
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 1, Laundry Room, Living Room, Bedroom 6
Parking
2
Interior features
Ceramic Counters
Lot features
Corner Lot, Irregular Lot, Yard
Elementary school district
Banning Unified
Middle school district
Banning Unified
High school district
Banning Unified
Directions
GO NORTH ON 8TH STREET TURN RIGHT AT GILMAN. IT WILL BE THE SOUTH/EAST CORNER ON GILMAN AND 4TH
Subdivision
263 - Banning/Beaumont/Cherry Valley
Standard status
Active
APN
535203001
Size
2,293 SF
Lot size
0.23 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
attached garage
Building Details
Year built
1961
Floors in Building
1
Number of units
2
Listing Agency:
NATIONAL REALTY GROUP
(951) 684-7283
Listed By:
ROBERT DAVIDSON · License #01262122
(951) 756-4395
Added: May 4
Changed: Sep 29
Last Checked: Oct 1 at 10:06AM
MLS# IV26096931
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers 2,293 square feet on a 0.23-acre lot, including a four-bedroom main residence and a separate smaller unit. The property also includes three bathrooms, a laundry room, ceramic countertops, and central air conditioning. A double attached garage provides enclosed parking and storage.
Constructed in 1961, the property is served by public water and public sewer. Its layout includes the primary home along with additional living quarters that can accommodate a range of household or occupancy arrangements.
Constructed in 1961, the property is served by public water and public sewer. Its layout includes the primary home along with additional living quarters that can accommodate a range of household or occupancy arrangements.
Key Highlights
- 2,293 SF duplex on a 0.23‑acre lot
- Four‑bedroom main residence with a separate smaller unit
- Three bathrooms plus a dedicated laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,288
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$805,760
$805.8K
Cap Rate 7%
$575,543
$575.5K
Cap Rate 9%
$447,644
$447.6K
Market Conditions
NOI Build-Up for 2,293 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.6K $25.56/SF
− Vacancy
−$1.1K −$0.46/SF
EGI
$57.6K $25.10/SF
− OpEx
−$17.3K −$7.53/SF
NOI
$40.3K $17.57/SF
Area
Riverside County, CA
Vacancy
1.80%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$805,760
Cap Rate 7%
$575,543
Cap Rate 9%
$447,644
Alternative Uses
Best Use
Multifamily LT 5
$575.5K
$503.6K – $671.5K
NOI $40,288 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$530.2K
$464.0K – $618.6K
NOI $37,116 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$686.9K
$601.1K – $801.4K
NOI $48,086 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 92220, CA
32,947
Population
13,258
Households
2.5
Avg Household Size
43
Median Age
17%
College-Educated
82%
High-School Grad
141.3 sq mi
ZIP Area
233
Density / Sq Mi
$59,116
Median Household Income
$35,428
Median Earnings
$1,499
Median Rent
$324,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a four-bedroom primary residence and a separate smaller living space.
Where is this duplex located?
The property is located at 530 GILMAN W Banning, CA.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 2,293 SF duplex on a 0.23‑acre lot; Four‑bedroom main residence with a separate smaller unit; Three bathrooms plus a dedicated laundry room
