Two-Story
For Sale
$699,950
140 Judy Lane, Henderson, NV 89015
MULTI_FAMILY - Other - Henderson, NV
Property Size2,924 SF
Lot Size0.17 Acres
Price / SF$239.38
Days on Market108
Property Features for 140 Judy Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Window Treatments
Appliances
Exhaust Fan, Disposal, Oven, Range, Refrigerator, Range Hood
Subdivision
Westminister Sub Amd
Elementary school
,
Directions
215 TOWARD HENDERSON EXIT TAKE LAKE MEAD PRKWY TURN RIGHT ON BURKHOLDER BLVD ..RIGHT ON JUDY LN PROPERTY ON LEFT
Standard status
Active
APN
179-17-115-001
Size
2,924 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2122
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1978
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile, Tile - Ceramic
Building materials
Stucco, Wood Siding
Roof type
Flat
Architectural style
Other
Listing Agency:
Elite Realty
(702) 228-7227
Listed By:
Alexis S. Harding · License #BS.0001657
(702) 348-6443
Added: Apr 30
Changed: Aug 1
Last Checked: Aug 15 at 12:06AM
MLS# 2777858
Copyright © 2026 Las Vegas REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story quadplex at 140 Judy Lane includes an apartment with two bedrooms and one bathroom. The interior features window treatments, carpet and tile flooring, and upgraded granite countertops, flooring, and cabinets. The unit includes a range, oven, refrigerator, disposal, and an exhaust fan, with a range hood as well. The building is constructed with stucco and wood siding, features a flat roof, and is served by public water and public sewer.
The property sits on a 0.17-acre lot and was built in 1978. Heating is central electric and cooling is central air.
With its existing interior finishes and core utilities in place, this quadplex can be considered for residential income use within the Henderson area.
The property sits on a 0.17-acre lot and was built in 1978. Heating is central electric and cooling is central air.
With its existing interior finishes and core utilities in place, this quadplex can be considered for residential income use within the Henderson area.
Key Highlights
- Upgraded granite countertops, flooring, and cabinets
- Two‑bedroom, one‑bath apartment layout
- 0.17‑acre lot with a 2,924 SF building
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
$33,855
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
4.84%
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%
$677,100
$677.1K
Cap Rate 7%
$483,643
$483.6K
Cap Rate 9%
$376,167
$376.2K
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
$50.9K $17.40/SF
− Vacancy
−$2.5K −$0.86/SF
EGI
$48.4K $16.54/SF
− OpEx
−$14.5K −$4.96/SF
NOI
$33.9K $11.58/SF
Area
ZIP 89015
Vacancy
4.94%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$677,100
Cap Rate 7%
$483,643
Cap Rate 9%
$376,167
Alternative Uses
Best Use
Multifamily LT 5
$483.6K
$423.2K – $564.3K
NOI $33,855 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$444.3K
$388.8K – $518.4K
NOI $31,101 @ 7.0% cap · market cap 4.44%
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
539
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?
Quadplex - Two-story quadplex with upgraded finishes, central electric heat and central air, and public water and sewer service.
Where is this quadplex located?
The property is located at 140 Judy Lane 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: Upgraded granite countertops, flooring, and cabinets; Two‑bedroom, one‑bath apartment layout; 0.17‑acre lot with a 2,924 SF building
