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$810,000

For Sale - Active
3188 Oakridge Way, Chelsea, AL 35043
5 Beds
0 Baths
3,312 Square Feet
0.00 Acres Lot
Built in 2022
For Sale - Active
Units n/a
Checked: 8 hours ago
Updated: Jun 13, 2025 at 03:47AM

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
-$1,034
Cap Rate
4.1%
Cash-on-Cash Return
-6.7%
Debt Coverage Ratio
0.73
Internal Rate of Return (5 years)
-2.5%

Property Description


0.00 Acres Lot
Built in 2022
For Sale - Active
Units n/a

Located in the gated Highlands of Chelsea, this 5-bedroom, 4-bath home offers over 3,300 sq ft of refined living space. The open floor plan features hardwood floors, quartz countertops, and crown molding throughout. The gourmet kitchen includes a large island, gas range, stainless steel appliances, and walk-in pantry, flowing seamlessly into the living room with views of a private, wooded backyard. The main level offers two bedrooms, including a luxurious master suite with soaking tub, tile shower, double vanities, and dual walk-in closets. Upstairs includes three additional bedrooms, a full bath, and a bonus room perfect for work or play. Step outside to a covered patio and take advantage of neighborhood amenities like walking trails, two lakes, and a gorgeous pool. Located in the top-rated Chelsea school district, this home combines comfort and convenience in one beautiful, charming package.

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Location


Property Details


Parking

  • Description: Driveway Parking, Side
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Total): 0.0

Interior Features

  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Fiber cement siding (Hardi-board/Hardi-plank
  • Foundation: Slab
  • Roof Type: Gable or Hip
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $2,838/annually

Land Information

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

Lot Information

  • Parcel ID: 099320005001000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: 2+ Story
  • Year Built: 2022

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Central, Heat Pump, Natural Gas
  • Cooling: Central Air

Location

  • County: Shelby

Listing Details


Listed by:
Jenny St John
Keller Williams Realty Vestavia
(205) 745-0760

Source:
Greater Alabama MLS
MLS#: 21417055
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
-$1,034
Cap Rate
4.1%
Cash-on-Cash Return
-6.7%
Debt Coverage Ratio
0.73
Internal Rate of Return (5 years)
-2.5%

Purchase Details

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Purchase price:
$810,000
Amount financed:
-$648,000
Down payment:
$162,000
Closing costs:
$24,300
Rehab costs:
$0
Initial cash invested:
$186,300
Square feet:
3,312
Cost per square foot:
$245
Monthly rent per square foot:
$1.33

Financing Details

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Loan amount:
$648,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,833
Property tax:
$0
Insurance:
$308
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,141

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,400 $52,800
Vacancy loss: (6%)
6% -$264 -$3,168
Operating income:
$4,136 $49,632

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$308-$3,696
Property management: (8%)
8%-$352-$4,224
Repairs & maintenance: (5%)
5%-$220-$2,640
Capital expenditures: (5%)
5%-$220-$2,640
HOA fees: (5%)
5%-$237-$2,844
Total operating expenses: (30%)
30%-$1,337-$16,044

Cash Flow


Monthly Yearly
Net operating income:
$2,799 $33,588
Mortgage payments:
-$3,833 -$45,996
Cash flow:
$1,034 $12,408