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$499,000

Sold
10224 W Heather Dr, Mequon, WI 53097
4 Beds
0 Baths
2,956 Square Feet
0.00 Acres Lot
Built in 1958
Sold
Units n/a
Checked: 6 hours ago
Updated: Jul 11, 2025 at 03:30AM

Investment Summary


Monthly Cash Flow
-$935
Cap Rate
3.9%
Cash-on-Cash Return
-9.8%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-5.5%

Property Description


0.00 Acres Lot
Built in 1958
Sold
Units n/a

One-of-a-kind, mid-century trilevel offers peace and tranquility on a rare 1+ acre lot in Mequon. If seclusion and privacy are what you are looking for, this is it. The property is set on a cul-de-sac with plenty of sunny green space lined by forest trails. The home has been lovingly cared for and thoughtfully updated in a contemporary fashion. Perfect for entertaining, the home has 3 generously proportioned living spaces with doors to both outdoor patios and a chef's kitchen. Updates include all new Marvin windows, solid fir wood doors with Emtech hardware, 2 fully-renovated full baths, chef's kitchen with high-end appliances (Liebherr), copper farm sink, custom hickory/maple island, custom hickory wood media center, an exterior clad with Brazilian Ipe wood, and more.

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Location


Property Details


Parking

  • Details: Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 0.0

Interior Features

  • Basement: Yes
  • Basement Description: Crawl Space, Finished, Full

Land Information

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

Lot Information

  • Parcel ID: 1401709005.00
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Contemporary
  • Year Built: 1958

Tax Information

  • Annual Tax: $3,727

Utilities

  • Water & Sewer: Well, Private
  • Heating: Natural Gas
  • Cooling: Central Air

Location

  • County: Ozaukee

Listing Details


Listed by:
Suzanne Powers Realty Group*
Powers Realty Group
(414) 963-0000

Source:
Wisconsin Real Estate Exchange
MLS#: 803874359690
Wisconsin Real Estate Exchange

Investment Summary


Monthly Cash Flow
-$935
Cap Rate
3.9%
Cash-on-Cash Return
-9.8%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-5.5%

Purchase Details

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Purchase price:
$499,000
Amount financed:
-$399,200
Down payment:
$99,800
Closing costs:
$14,970
Rehab costs:
$0
Initial cash invested:
$114,770
Square feet:
2,956
Cost per square foot:
$169
Monthly rent per square foot:
$0.95

Financing Details

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Loan amount:
$399,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,556
Property tax:
$311
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,063

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$311-$3,727
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (36%)
36%-$1,011-$12,127

Cash Flow


Monthly Yearly
Net operating income:
$1,621 $19,452
Mortgage payments:
-$2,556 -$30,672
Cash flow:
$935 $11,220