Two-Story Apartment
For Sale
$699,950
140 Judy Ln, Henderson, NV 89015
The unit features upgraded granite countertops, flooring, and cabinetry in a residential income property setting.
Property Size2,924 SF
Price / SF$239.38
Days on Market30
Property Features for 140 Judy Ln
General Information
Standard status
Active
Size
2,924 SF
Property subtype
Multi-Family
Building Details
Year Built
1978
Listing Agency:
Elite Realty
(702) 348-6443
Listed By:
Alexis S. Harding · License #BS.0001657
Source:
Findavegashouse
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 30 at 7:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elite Realty
Investment Insights
Based on property information with market context.
This multifamily property includes a two-bedroom, one-bath apartment within a two-story building constructed in 1978. Interior improvements include granite countertops, updated flooring, and upgraded cabinetry, providing refreshed finishes within the existing residential layout.
The property is located on Judy Lane in Henderson, Nevada, near a park, schools, shopping, and restaurants. Its apartment configuration and surrounding convenience-oriented setting support its use as a residential income property.
The property is located on Judy Lane in Henderson, Nevada, near a park, schools, shopping, and restaurants. Its apartment configuration and surrounding convenience-oriented setting support its use as a residential income property.
Key Highlights
- Two‑bedroom, one‑bath apartment
- Two‑story building constructed in 1978
- Upgraded granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,101
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$622,020
$622.0K
Cap Rate 7%
$444,300
$444.3K
Cap Rate 9%
$345,567
$345.6K
Market Conditions
NOI Build-Up for 2,924 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.6K $20.40/SF
− Vacancy
−$3.1K −$1.06/SF
EGI
$56.5K $19.34/SF
− OpEx
−$25.4K −$8.70/SF
NOI
$31.1K $10.64/SF
Area
ZIP 89015
Vacancy
5.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$622,020
Cap Rate 7%
$444,300
Cap Rate 9%
$345,567
Alternative Uses
Best Use
Apartment 5plus
$444.3K
$388.8K – $518.4K
NOI $31,101 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.02M
$896.3K – $1.20M
NOI $71,701 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 89015, NV
41,203
Population
16,812
Households
2.5
Avg Household Size
41
Median Age
20%
College-Educated
89%
High-School Grad
37.3 sq mi
ZIP Area
1,105
Density / Sq Mi
$71,300
Median Household Income
$41,509
Median Earnings
$1,324
Median Rent
$373,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - The unit features upgraded granite countertops, flooring, and cabinetry in a residential income property setting.
Where is this multifamily property located?
The property is located at 140 Judy Ln Henderson, NV.
What is the asking price?
The asking price for this property is $699,950.
What are key features of this property?
This property features: Two‑bedroom, one‑bath apartment; Two‑story building constructed in 1978; Upgraded granite countertops
