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$299,900

For Sale - Active
204 Shalimar Cir, Alabaster, AL 35007
3 Beds
2.5 Baths
1,754 Square Feet
0.00 Acres Lot
Built in 1992
For Sale - Active
Units n/a
Checked: 1 day ago
Updated: Jul 23, 2025 at 07:12AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$39
Cap Rate
5.5%
Cash-on-Cash Return
-0.7%
Debt Coverage Ratio
0.97
Internal Rate of Return (5 years)
3.3%

Property Description


0.00 Acres Lot
Built in 1992
For Sale - Active
Units n/a

This move in ready home is updated inside and out. Exterior is painted in 2022, with a large covered back deck with beautiful wood ceiling, NEW double hung windows, and large storage shed. On the inside you have a kitchem remodeled in 2019, new hardwood floors in 2023, both bathrooms redone in 2023 and 2024, New insulation in the attic 3 yrs ago. There is 3 ac units, main unit replaces in 2019 with all new duct work, bonus room mini split is 6 months old, garage (yes there is ac in the garage) in 2020. The water heater was replaced 6 mths ago.

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Location


Property Details


Parking

  • Description: Basement Parking, Side
  • Details: Off Street, On Street, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.5

Interior Features

  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Full, Finished
  • Fireplace: Yes

Exterior Features

  • Roof Type: Gable or Hip

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 232101003023000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: 1-Story
  • Year Built: 1992

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Central, Heat Pump
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Shelby

Listing Details


Listed by:
Andrew George
EXIT Realty Cahaba- Valleydale
(205) 299-1739

Source:
Greater Alabama MLS
MLS#: 21421832
Greater Alabama MLS

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$39
Cap Rate
5.5%
Cash-on-Cash Return
-0.7%
Debt Coverage Ratio
0.97
Internal Rate of Return (5 years)
3.3%

Purchase Details

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Purchase price:
$299,900
Amount financed:
-$239,920
Down payment:
$59,980
Closing costs:
$8,997
Rehab costs:
$0
Initial cash invested:
$68,977
Square feet:
1,754
Cost per square foot:
$171
Monthly rent per square foot:
$1.14

Financing Details

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Loan amount:
$239,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,419
Property tax:
$0
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,559

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$500-$6,000

Cash Flow


Monthly Yearly
Net operating income:
$1,380 $16,560
Mortgage payments:
-$1,419 -$17,028
Cash flow:
$39 $468