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3131 E Legacy Drive #2105 Phoenix, AZ 85042

2 Beds 2 Baths 1,306 sqft Built 2004

$275,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $210.57
  • 2 Days on Market
  • MLS # : 6160993
  • Updated Date : 12/05/2020 at 08:05
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,306 sqft
  • Baths : 1 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Make this your getaway turnkey condo, or just staycation at home! Easy-maintenance waterproof LVT flooring and neutral tile in this spacious split-bedroom floorplan condo. 2 car-garage on ground level; 2 bedrooms; 2 balconies and main living area with gas fireplace. Park-like complex with heated pool/spa, fitness center, rec center and adjacent to Legacy Golf Resort. Easy access to I-10 and Sky Harbor.

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
T.g. Barr School Primary Regular 516 29 2
T.g. Barr School Middle Regular 516 29 2
South Mountain High School High Regular 1,706 102 2

T.g. Barr School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

T.g. Barr School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

South Mountain High School

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

$247,500$302,500$275,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,015
Property Tax -$179
Property Insurance -$53
HOA -$280
Property Management Fees -$99
CASH FLOW
-$315

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.

$275,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.48%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$280

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
  • $1,401

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2953$1,3004$1,3255$1,450
$1,450
RENT COMPS ANALYSIS
  • 3131 E Legacy Drive #2105 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,306 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,306 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3131 E Legacy Drive #2031 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,299 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,299 Sqft ∙ Built 2001
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.00
    •  
  • 3131 E Legacy Drive #2111 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,299 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,299 Sqft ∙ Built 2002
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
  • 7447 S 30th Run Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,205 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,205 Sqft ∙ Built 2007
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.10
    •  
  • 3900 E Baseline Road #118 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,218 Sqft ∙ Built 2020 2 beds 2 baths ∙ 1,218 Sqft ∙ Built 2020
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.19
    •  
PROPERTY LISTING DETAILS
Jennifer Wassermann
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160993
Last Updated: 12/05/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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