$620,000
●
House -
Off Market
7042 Rainbow Court
Riverside, CA 92506
3 Beds
2 Baths
2,034 Ft²
$2,996
Est. Monthly
About This Property
This charming single-story home sits on a quiet cul-de-sac and
offers 3 bedrooms, 2 baths, and over 2,000 sq. ft. of living space.
The floor plan includes both a living and family room, a cozy
fireplace, and a remodeled kitchen with breakfast bar, double
ovens, and gas cooktop. Recent updates include a remodeled kitchen
and bathrooms, newer windows, PEX plumbing, HVAC system, roof,
water heater, rain gutters, and interior finishes. A spacious bonus
room adds flexibility and could potentially be converted into an
ADU. The backyard features a covered patio, mature landscaping, and
room to entertain, along with a 2-car carport and storage shed.
Conveniently located near the 91 freeway, Riverside Plaza,
downtown, RCC, CBU, and Metrolink.
Unit Size
2,034 Ft²
Days on Market
114 days
Land Size
0.15 acres
Price per sqft
$300
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1959
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 11 months ago (CRMLS #OC25187519)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 12, 2025 | Sold | ||
| Sold | |||
| Nov 7, 2025 | In contract | - | |
| In contract | |||
| Oct 31, 2025 | Price Decreased |
$610,000
↓ $9K
(1.5%) | |
| Price Decreased | |||
| Sep 19, 2025 | Price Decreased |
$619,000
↓ $16K
(2.5%) | |
| Price Decreased | |||
| Aug 5, 2025 | Listed by Realty One Group West | $635,000 | |
| Listed by Realty One Group West | |||
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Property Highlights
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Status
Status
Type
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Baths
ft²
Price/ft²
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Sold On
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HOA + Taxes
About Casa Blanca
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Listed by: Joseph Demetry, Realty One Group West
Last Updated: 11 months ago
Data Source: CRMLS, MLS# OC25187519
Last Updated: 11 months ago
Data Source: CRMLS, MLS# OC25187519
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