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    The Largest CRE Database in the US with Over 1 Million Listings

    592 N Rainbow Dr Greenehaven, AZ 86040

    Sponsored
    For Sale
    $130,000

    Single Family Lot - Greenehaven, AZ

    Lot size:
    0.44 Acres
    Days on Market:
    23
    Last Refresh:
    Jan 23 at 4:06 pm

    Property Features for 592 N Rainbow Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    APN
    601-47-083
    Exterior features
    View of Lake, View of Mountains
    Lot size
    0.44 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Mary Pahissa-Van Meenen

    Majestic View Properties, LLC (928) 660-3320

    Listing agent Mary Pahissa-Van Meenen (928) 660-3320 License #SA568901000

    Listing date Jan 1, 2026

    MLS# 1606359 Listing URL

    Copyright © 2026 Page Lake Powell MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Greenehaven Lot with Unobstructed Views

    This 0.44-acre residential lot is situated in Greenehaven, Arizona, a planned development community located 9 miles from Page. The property is a short 10-minute drive to Lake Powell launch ramps and Lone Rock, offering opportunities for fishing, boating, kayaking, and relaxation. The location also provides convenient access to nearby National Parks. Located in Unit V, known as San Juan Canyon, the property requires homes to be a minimum of 2500 square feet. The elevated top of the lot allows for construction up to 16 feet high from the highest unexcavated point. The property offers unobstructed views of the lake, Lone Rock, Kaiparowits Plateau, and Navajo Mountain, as well as surrounding mesas. Greenehaven is a "dark sky" community, which means there are no street lights. Underground utilities are in place to the property line. Reasonable CCR's are in place to help maintain the beauty of the area. HOA dues are $489, covering street maintenance and common areas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Greenehaven
    County
    Coconino
    State
    Arizona
    Longitude
    -111.5602866
    Latitude
    36.9928055

    FAQs

    What type of property is this?
    Land - Residential lot near Lake Powell with stunning, protected views.
    Where is this land located?
    The property is located at 592 N Rainbow Dr Greenehaven, AZ.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: - Unobstructed panoramic views of Lake Powell, Lone Rock, Kaiparowits Plateau, and Navajo Mountain.; - Large .44 acre lot in Greenehaven, a planned development community near Lake Powell.; - Convenient 10-minute drive to Lake Powell launch ramps and Lone Rock for recreation.
    (928) 660-3320
    Request Owner's contact information
    592 N Rainbow Dr Greenehaven, AZ 86040
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    Greenehaven, AZ 86040
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    592 N Rainbow Dr Greenehaven, AZ 86040
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    We can help!
    Listing Contact
    Mary Pahissa-Van Meenen
    Real Estate License ID: SA568901000
    (928) 660-3320
    Learn more
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