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4863 S Monarch Place Ontario, CA 91762

3 Beds 3 Baths 1,993 sqft Built 2018

$535,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $268.44
  • 4 Days on Market
  • MLS # : TR21048483
  • Updated Date : 03/12/2021 at 15:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,993 sqft
  • Baths : 3 full
Listing Agent

Century 21 Home

Listing Agent's Description

Thought you missed your chance to own a newer home in Ontario Ranch for under $600,000....well, you didn't, here is YOUR chance friends! This Taylor Morrison build is only a few years old and is a well designed floorplan. The main floor is open concept with a generously appointed kitchen allowing for ample storage. All the materials used are current and neutral, from the custom shutters, white shaker cabinets to the vinyl flooring and solid, stone surfaces. Main floor bedroom and first floor bath with shower is the perfect bedroom for either guests or parents. Primary bedroom is more like a retreat, from the GORGEOUS view of the mountains, wood shutters and the spa-like bath with dual vanities and over-sized tub! Did I mention the dream walk-in closet with built-in closet organization system?? In fact, all the closets have built-in organizers. In addition to the primary, there are 2 more additional bedrooms upstairs as the seller converted the loft to be used as a bedroom. Say goodbye to hauling laundry up and down stairs with this upstairs laundry. Outside, the patio has a maintenance-free vinyl patio cover and creates a private place to entertain and unwind. The attached garage has extra storage with an overhead storage rack installed, perfect for all the Christmas boxes. The Park Place community offers a number of amenities from the Clubhouse, Gym, Pool/Spa, Game room, Dog park, Parks and Sport Courts. Time to enjoy ALL the perks of Active, Outdoor CA living!

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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: Ontario Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Ontario Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10762618

* 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
Ranch View Elementary School Primary Regular 586 21 6
Grace Yokley Middle School Middle Regular 928 33 6
Colony High School High Regular 2,079 84 6

Ranch View Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 21
6
GreatSchools Rating

Grace Yokley Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 33
6
GreatSchools Rating

Colony High School

  • Education Level: High
  • # of students: 2,079
  • # of teachers: 84
6
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,858
Property Tax -$470
Property Insurance -$75
HOA -$180
Property Management Fees -$147
CASH FLOW
-$240

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.

$535,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,486

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4903$2,5004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 4863 S Monarch Place Ontario, CA 2
    • 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.25
    •  
  • 3221 E Olympic Drive Ontario, CA 1
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2018
    property image
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.34
    •  
  • 5858 Milana Drive Eastvale, CA 3
    • 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.23
    •  
  • 6192 Cedar Creek Road Eastvale, CA 4
    • 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.23
    •  
  • 5038 S Mccleve Way E Ontario, CA 5
    • 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.19
    •  
PROPERTY LISTING DETAILS
Kimberly Fikse
Century 21 Home
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21048483
Last Updated: 03/12/2021
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