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3318 Clipstone Court 
Riverside, CA
92503
3 Beds 3 Baths 1,767 sqft
Built 2008
INVESTimate
$475,000
List Price
$131,625
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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Valley View Farms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
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
| 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
INVESTMENT
$131,625
LOAN DETAILS
$1,753
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
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
-
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
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- $2,095
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LEASED 08/30/19- Rent
- Rent Per SQFT
- $2,150
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-
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
Keller Williams Signature Rlty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS20170283
Last Updated: 08/24/2020
