7073 New Mexico, Riverside, California 92506, Riverside, 92506 - 3 bed, 2 bath
7073 New Mexico
Riverside, California 92506
Property Price
SUMMARY
Analysis of 7073 New Mexico, Riverside, California 92506 reveals a Fairly Priced Property with a current list price of $505,000 aligned with the estimated $505,000 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Riverside Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7073 New Mexico Subject | $505,000* List Price | 3 | 2 | 1,110 | $455 | - |
A 6958 Goodview Sold | $603,000 | 3 | 2 | 1,110 | $543 | 0.3 mi |
B 3036 Miguel Sold | $575,000 | 3 | 2 | 1,148 | $501 | 0.3 mi |
C 3130 David Street Sold | $570,000 | 3 | 1 | 1,032 | $552 | 0.4 mi |
D 2717 Gleason Court Sold | $515,500 | 3 | 2 | 1,288 | $400 | 0.8 mi |
E 6725 Hunt Court Sold | $595,000 | 3 | 2 | 1,353 | $440 | 0.7 mi |
F 3180 Jane Active | $520,000 List Price | 3 | 1 | 1,292 | $402 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1978, the property is well-maintained and functional but remains largely in its original or older updated state. The kitchen and bathrooms feature dated cabinetry and finishes rather than modern renovations, and the interior requires cosmetic updates to meet contemporary standards. It is move-in ready but shows typical signs of age for a 45-plus-year-old home.
PROSSTRENGTHS & OPPORTUNITIES
- Expansive Lot Potential
The property features a large backyard with significant potential for an ADU or pool, offering excellent value-add opportunities for the buyer.
- Motivated Seller & Pricing
A recent significant price reduction and explicit seller motivation provide a strong negotiating position and a competitive entry point into the Riverside market.
- Ample Parking & Storage
With a two-car garage and a large driveway, the home offers superior parking capacity and storage convenience for families with multiple vehicles.
CONSRISKS & DEFICIENCIES
- Compact Living Space
At 1,110 square feet for a three-bedroom layout, the interior rooms and common areas may feel somewhat confined compared to modern residential standards.
- Dated Construction
Built in 1978, the home may require cosmetic updates or system modernizations to meet current energy efficiency and contemporary aesthetic preferences.
About 7073 New Mexico
HUGE PRICE DROP! SELLER MOTIVATED ! Welcome to this charming single-family home offering the perfect blend of comfort, space, and outdoor living. Featuring 3 spacious bedrooms and 2 full bathrooms, this home provides an open and inviting layout ideal for families and entertainers alike. Enjoy a bright living area, a functional kitchen with plenty of storage, and comfortable bedrooms that create a warm, welcoming feel throughout. The large front yard offers beautiful curb appeal, while the huge backyard is perfect for gatherings, barbecues, or adding a future pool or ADU. With a two-car garage, ample driveway parking, and a location close to schools, shopping, and major freeways, this property delivers both convenience and potential.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1978
- Lot Size
- 6,098 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 48% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,110 | 2,006 | 9% |
| Lot Size | 6,098 | 10,454 | 6% |
| Price | $505.0K | $747.9K | 2% |
| Price per sq ft | $455 | $386 | 80% |
| Built year | 1978 | 1969 | 62% |
| HOA | $0 | $0 | 50% |
| Days on market | 131 | 184 | 26% |
Pricing History
Listed for Sale
Mar 5, 2026
$505,000
$604,999
-17% Price Drop
Initial Listing
Price Change
Nov 19, 2025
$604,999
$639,999
-5% Price Drop
Initial Listing
Price Change
Oct 27, 2025
$639,999
Initial Listing