Article
Which Riverside Home Is the Smarter Buy? A Tale of Two Price Tags and a Hidden $65K Difference
May 27, 2025
When it comes to buying a home, it's easy to focus on the listing price and overlook what comes next: repairs, replacements, and all the "surprise" costs waiting behind that freshly painted front door. This week on the PropertyLens podcast, Bob Frady and John Siegman put two seemingly similar homes in Riverside, CA under the microscope, and what they found was a $65,000 difference hiding in plain sight.
Two Listings, Two Very Different Realities
The first home, located at 6154 Goldenrod Lane, is listed at $620,000. It’s been cosmetically updated and gives off the move-in ready vibe. But as Bob noted, looks can be deceiving. "This house was built in 1985, and it looks like the asphalt driveway and HVAC system are original," he explained. Goldenrod's expected repair costs? Roughly $21,000 over the next two years.
Meanwhile, just a few blocks away, 6834 Capistrano Way is listed for $564,000, a full $56,000 less. But there's a catch. Built in the late 1940s, this home comes with a hefty to-do list. According to Bob, "You're probably looking closer to somewhere around a maximum of $80K on this house."
Permits, Problems, and the Real Price of Renovation
Beyond the price and the age of the systems, Bob and John pointed out a major red flag: permits. Goldenrod had recent renovations but no record of permits, which could mean trouble when it's time to sell. "If you don't have permitted work in the house and it's not up to code, they’ll make you rip it out," Bob warned. On the flip side, Capistrano has one confirmed permit for an HVAC replacement, but much of the home's expanded square footage appears to be unpermitted as well.
When you tally everything up, Capistrano may be cheaper up front but could cost more than four times as much in repairs. As John put it: "You look at one and go, 'Okay, $20,000, I can budget an extra $500 a month.' And you look at the other one and go, 'Ooh, $86,000? I can't budget an extra $7,000 a month.'"
What PropertyLens Saw That the Listing Didn’t
While both homes were similar in square footage and layout, only Goldenrod came close to being truly move-in ready. And it wasn’t without its own issues, like an aging electrical panel and possible termite risks. Capistrano, on the other hand, had dated systems, possible unpermitted additions, and what Bob called a telltale euphemism in the listing: "dated."
"Unless you're looking for that retro home, that means you've got work to do," Bob said.
Final Takeaway: Don't Let the Sticker Price Fool You
Capistrano may look like the better deal on paper. But once PropertyLens factored in estimated repairs, risk factors, and permitting issues, the $56,000 price gap quickly flipped into a $65,000 liability.
Both homes have potential, but only one of them tells the full story upfront. That’s why PropertyLens exists: to help buyers see beyond the listing and make confident, fully informed decisions.
As Bob summed it up: "We have no vested interest in whether you buy the house or not. We’re just here to tell you all the things nobody else really wants you to know."
Two Listings, Two Very Different Realities
The first home, located at 6154 Goldenrod Lane, is listed at $620,000. It’s been cosmetically updated and gives off the move-in ready vibe. But as Bob noted, looks can be deceiving. "This house was built in 1985, and it looks like the asphalt driveway and HVAC system are original," he explained. Goldenrod's expected repair costs? Roughly $21,000 over the next two years.
Meanwhile, just a few blocks away, 6834 Capistrano Way is listed for $564,000, a full $56,000 less. But there's a catch. Built in the late 1940s, this home comes with a hefty to-do list. According to Bob, "You're probably looking closer to somewhere around a maximum of $80K on this house."
Permits, Problems, and the Real Price of Renovation
Beyond the price and the age of the systems, Bob and John pointed out a major red flag: permits. Goldenrod had recent renovations but no record of permits, which could mean trouble when it's time to sell. "If you don't have permitted work in the house and it's not up to code, they’ll make you rip it out," Bob warned. On the flip side, Capistrano has one confirmed permit for an HVAC replacement, but much of the home's expanded square footage appears to be unpermitted as well.
“If you don't have permitted work in the house and it's not up to code, they’ll make you rip it out.”
When you tally everything up, Capistrano may be cheaper up front but could cost more than four times as much in repairs. As John put it: "You look at one and go, 'Okay, $20,000, I can budget an extra $500 a month.' And you look at the other one and go, 'Ooh, $86,000? I can't budget an extra $7,000 a month.'"
What PropertyLens Saw That the Listing Didn’t
While both homes were similar in square footage and layout, only Goldenrod came close to being truly move-in ready. And it wasn’t without its own issues, like an aging electrical panel and possible termite risks. Capistrano, on the other hand, had dated systems, possible unpermitted additions, and what Bob called a telltale euphemism in the listing: "dated."
"Unless you're looking for that retro home, that means you've got work to do," Bob said.
Final Takeaway: Don't Let the Sticker Price Fool You
Capistrano may look like the better deal on paper. But once PropertyLens factored in estimated repairs, risk factors, and permitting issues, the $56,000 price gap quickly flipped into a $65,000 liability.
Both homes have potential, but only one of them tells the full story upfront. That’s why PropertyLens exists: to help buyers see beyond the listing and make confident, fully informed decisions.
As Bob summed it up: "We have no vested interest in whether you buy the house or not. We’re just here to tell you all the things nobody else really wants you to know."
