Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3131 E Legacy Drive #1033 Phoenix, AZ 85042

2 Beds 2 Baths 1,666 sqft Built 2001

$325,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $195.08
  • 3 Days on Market
  • MLS # : 6199736
  • Updated Date : 02/26/2021 at 19:20
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,666 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

BEAUTIFUL GROUND FLOOR GOLF COURSE HOME IN THE VALLEY OF THE SUN. THE HOME IS SITUATED AT THE LEGACY GOLF COURSE AND RESORT. IF YOU WOULD LIKE A TURN KEY HOME WHICH IS READY TO MOVE INTO, SELLERS ARE OFFERING TO SELL SEPARATELY ALL FURNISHINGS AND HOUSEHOLD GOODS ON A SEPARATE BILL OF SALE. PLEASE SEE DOCUMENTS TAB FOR DETAILS AND ASSOCIATED COSTS. STUNNING GOLF COURSE AND MOUNTAIN VIEWS. PRIVATE COVERED PATIO AT THE REAR OF THE HOME, LEADING INTO SPACIOUS LIVING AND DINING ROOM. GOURMET KICHEN , CHERRY CABINETS, STUNNING TILE AND CUSTOM BACKSPLASH. BREAKFAST BAR, EAT IN KITCHEN. SPLIT MASTER BEDROOM SUITE, SECOND BEDROOM AND BATHROOM AND SPACIOUS HOME OFFICE. THE HOME IS CLOSE TO SKY HARBOR, GREAT RESTAURANTS, SHOPPING AND MAJOR FREEWAYS. YOU WILL LOVE THIS WONDERFUL HOME.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cachet at Legacy Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Cachet at Legacy Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,129
Property Tax -$211
Property Insurance -$60
HOA -$280
Property Management Fees -$99
CASH FLOW
$81

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$325,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$21,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,8004$1,9955$2,300
$2,300
RENT COMPS ANALYSIS
  • 3131 E Legacy Drive #1033 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,666 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,666 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3131 E Legacy Drive #1062 Phoenix, AZ 2
    • 2 beds 3 baths ∙ 1,646 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,646 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 3131 E Legacy Drive #2078 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,795 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,795 Sqft ∙ Built 2001
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 3131 E Legacy Drive #1047 Phoenix, AZ 4
    • 2 beds 3 baths ∙ 1,646 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,646 Sqft ∙ Built 2004
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.21
    •  
  • 3131 E Legacy Drive #2003 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,795 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,795 Sqft ∙ Built 2004
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.28
    •  
PROPERTY LISTING DETAILS
Gillian Kirkpatrick
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199736
Last Updated: 02/26/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy