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3318 Clipstone Court Riverside, CA 92503

3 Beds 3 Baths 1,767 sqft Built 2008

INVESTimate

$475,000

List Price

$2,370

$2,133 - $2,607

Rent Est.

$522,595  ( +10.02%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $268.82
  • 3 Days on Market
  • MLS # : WS20170283
  • Updated Date : 08/24/2020 at 13:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,767 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Signature Rlty

Listing Agent's Description

ONLY 3 YEARS NEW! Stunning 3 bedroom, 2.5 bathroom home in the gated Riverwalk Vista Community. Drive through the security gate into a quaint cul-de-sac and enter your new neighborhood. This home boasts an open concept where the upgraded kitchen meets the enormous living room. It's quite the space for entertaining, allowing guests to comfortably transition into the private back patio. Upstairs features a loft usable for a play area, office space, or game room. The spacious master bedroom offers tons of natural light for a bright and airy feel. Master bathroom shower is tiled with a beautiful gray to contrast the light colored flooring and double vanity. You'll find the walk-in closet has plenty of built in shelves for shoes, handbags, or other accessories. The abundant space, storage, functionality and low maintenance yard is just what busy and growing families need. If you close escrow soon, you will be able to enjoy the Riverwalk Vista pool this hot summer season! Located near the 91 freeway off La Sierra Ave, Metro-Link, Galleria at Tyler, and Castle Park for the kids!

SEE MORE

MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Valley View Farms

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800kPrice in $116k883k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Valley View Farms

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100012001400160018002000220024002600Rent in $9112746

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Orrenmaa Elementary School Primary Regular 596 23 4
Arizona Middle School Middle Regular 1,111 42 4
Hillcrest High School High Unknown 1,353 53 NA

Orrenmaa Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 23
4
GreatSchools Rating

Arizona Middle School

  • Education Level: Middle
  • # of students: 1,111
  • # of teachers: 42
4
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 53
NA
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,753
Property Tax -$482
Property Insurance -$70
HOA -$210
Property Management Fees -$140
CASH FLOW
-$285

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$475,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 10.02%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,710

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,370

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,531

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1503$2,3704$2,6005$3,000
$3,000
RENT COMPS ANALYSIS
  • 3318 Clipstone Court Riverside, 3
    • 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.34
    •  
  • 11460 Shugart Way Riverside, 1
    • 4 beds 2 baths ∙ 1,475 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,475 Sqft ∙ Built 1988
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.42
    •  
  • 4440 Watermoor Drive Riverside, 2
    • 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2005
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.40
    •  
  • 3397 Greenpark Lane Riverside, 4
    • 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2012
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.47
    •  
  • 4255 Gardenridge Court Riverside, 5
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2003
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.44
    •  
PROPERTY LISTING DETAILS
May Tseng
Keller Williams Signature Rlty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20170283
Last Updated: 08/24/2020
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