440 Elsmere, Riverside, California 92506, Riverside, 92506 - 4 bed, 3 bath
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440 Elsmere
Riverside, California 92506
ACTIVE
CONDITION: GOOD
4Beds
3Baths
2,188Sq Ft
1,530Lot Size
Property Price
LIST PRICE$550,000
EST. MARKET VALUE
$593,718
7% BelowMARKET VALUE
SUMMARY
This Spacious Townhouse is a Strong Value Opportunity, listed at $550,000—positioned well below the $593,719 Fair Market Value by 7%. This valuation gap offers $43,719 in Instant Equity for the buyer. The property maintains a Good Condition Rating, featuring high-end remodeled bathrooms and a newer HVAC system. Located near top-rated schools like Polytechnic High, this home offers a low-maintenance lifestyle with community pool access. It is an ideal acquisition for Owner-Occupants or first-time buyers seeking space and value.
Estimated Market Value
$593,718+$43,718 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Riverside.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 440 Elsmere Subject 4 bd · 3 ba · 2,188 sqft · $271 | $550,000* List Price | 4 | 3 | 2,188 | $271 | - |
A 2260 El Capitan Sold 4 bd · 3 ba · 2,004 sqft · $279 · 0.9 mi | $559,000 | 4 | 3 | 2,004 | $279 | 0.9 mi |
B 2252 El Capitan Active 3 bd · 3 ba · 1,789 sqft · $313 · 0.9 mi | $559,900 List Price | 3 | 3 | 1,789 | $313 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Built in 1978, the property has been well-maintained with significant updates including high-end, recently remodeled bathrooms and a newer HVAC system. While the kitchen features modern stainless steel appliances, the cabinetry and tile countertops suggest a renovation from the 10-20 year range, placing it firmly in the 'Good' category for move-in readiness.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Value and Space
Offering nearly 2,200 square feet of living space at a price point often reserved for much smaller homes, this property provides significant square footage in a neighborhood surrounded by million-dollar residences.
- High-End Interior Upgrades
The home features beautifully remodeled, high-end bathrooms and a newer HVAC system, blending artistic character with modern mechanical reliability and luxury finishes.
- Prime Location and Accessibility
Ideally situated near the Canyon Crest Towne Centre and top-rated schools like Polytechnic High, the home also includes a stair lift, making the spacious floor plan accessible for those with mobility considerations.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1530, other record lot size in square feet = 1742. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Monthly HOA Expenses
The $400 monthly association fee increases the total monthly carrying cost, which may be a consideration for buyers sensitive to recurring non-mortgage expenses.
- Limited Private Outdoor Space
With a lot size of only 1,530 square feet, the property lacks a traditional backyard, offering only a private patio which may not satisfy buyers looking for significant garden or play space.
About 440 Elsmere
INCREDIBLE VALUE IN ONE OF RIVERSIDE’S MOST DESIRABLE LOCATIONS! Imagine owning a nearly 2,200-square-foot home for the price of a house half its size, surrounded by neighborhoods where million-dollar homes are the norm! Tucked into a fantastic location between Canyon Crest, Alessandro Heights and Hillcrest, this spacious four-bedroom, 2.5-bath townhome presents an exceptional opportunity to enjoy more space, an outstanding location and an incredible value. Lovingly cared for by longtime art collectors, the home offers a distinctive sense of character and warmth, with thoughtful finishes and beautifully remodeled, high-end bathrooms. The generous floor plan feels more like a single-family residence, featuring spacious living areas and a large main-level bedroom currently configured as an office, along with a convenient powder room. Upstairs, the exceptionally spacious primary suite is a true retreat, featuring a dramatic vaulted ceiling and a beautifully remodeled en-suite bath with dual sinks, a soaking tub and separate walk-in shower. Additional highlights include a newer HVAC system, water softener and an installed stair lift, offering an added accessibility feature for those with mobility considerations. Step outside to your private rear patio, where mature specimen eucalyptus and pepper trees create a peaceful backdrop, beautiful views and a wonderful sense of privacy. Best of all, enjoy an exceptionally low-maintenance lifestyle, with landscaping and the building exterior maintained by the HOA. The private community also features a pool and spa. Ideally situated near highly regarded schools, Canyon Crest Towne Centre, Mission Grove Shopping Center, dining, shopping and everyday conveniences, this location is hard to beat. Where else can you find nearly 2,200 square feet of living space at a price comparable to homes half the size, in an area surrounded by million-dollar properties? At 440 Ellesmere Drive, you don't have to compromise on space or location to enjoy exceptional value. Don't miss this opportunity to own more home for your money in one of Riverside's most sought-after areas!
Property Details
Public Facts
- Property Type
- Townhouse
- Year Built
- 1978
- Lot Size
- 1,530 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $400.0 / Month
Neighborhood Insights
Riverside Unified Schools
Castle View Elementary School
Grades K-6 • 0.6 mi
5/10
Matthew Gage Middle School
Grades 7-8 • 1.8 mi
4/10
Polytechnic High School
Grades 9-12 • 1.9 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.1 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,188 | 1,514.429 |
| Lot Size | 1,530 | 3,135.262 |
| Price | $550.0K | $534.8K |
| Price per sq ft | $251 | $360 |
| Built year | 1978 | 2007 |
| HOA | $400.0 | $343 |
| Days on market | 2 | 78 |
Pricing History
Listed for Sale
Oct 23, 2026
$550,000
Initial Listing