[quote author="graphrix" date=1254531757]It would have been better if you were the investor who bought it from the bank for $55k. I thought $150 a sqft. was the bottom in Riversas? Mmmm.</blockquote>
The city average is $122 a square foot right now, according to Redfin. It bottomed at about $110 a sq ft.
[quote author="financeguy" date=1254532405][quote author="graphrix" date=1254531757]It would have been better if you were the investor who bought it from the bank for $55k.</blockquote>
$55K is actually a price I could afford to pay at an auction. I wonder if there are similar priced homes going on auction at the courthouse in Riverside.
What would be really nice is if there was a website that should a crime map of Riverside? That way you can tell which areas are really bad and are prone to vandalism.</blockquote>
The example house I posted is in what I consider a high crime area. The city does have such a map for reference:
<a href="http://www.riversideca.gov/rpd/crstats/cstats_new.html">Link</a>
Unfortuantly, it's hard to really use that data, since the different reporting districts are of arbitrary sizes and populations. Interestingly, crime seems to be falling significantly in all areas of the city.
As for finding houses for fifty grand, they seemed to be common a few months ago. I'm not sure if that's still the case.
The three areas nearest UCR are Eastside (higher crime, cheaper houses), Belvedere Heights (lower crime, more expensive houses), and Canyon Crest (lower crime, but quite expensive houses (for Riverside)). I think Canyon Crest is probably too expensive for a rental of this sort.