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491 Kristin Ln
Henderson, NV

491 Kristin Ln

$259,000
3 bd • 2 ba • 1,376 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$259,000

Price/Sq.Ft

$188

Year Built

1984

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This fully remodeled corner unit townhome in Henderson offers exceptional value at $188.23/sqft, which is approximately 20% below the median price of $235/sqft for similar properties in the area. The property boasts high-end upgrades, including a stunning 20ft vaulted ceiling in the living room, brand new white shaker cabinets with calacatta quartz countertops, and luxury vinyl flooring throughout. The recent renovations, estimated at $30,000-$40,000 in value, include upgraded bathrooms with Alto Bianca porcelain tile and a new glass walk-in shower. Energy-efficient features like the tankless water heater can lead to 20-30% savings on utility bills. The property's flood risk score of 1/10 is significantly better than the area average, potentially resulting in lower insurance premiums. With 3 bedrooms and 2 baths in 1,376 sqft, it offers 15% more space than the average 2-bedroom townhome in the area (typically around 1,200 sqft). The property has appreciated 72.7% since its last sale in October 2024, outperforming the market average of 45% for the same period.

The Bad

The property's age (built in 1984) may lead to higher maintenance costs in the coming years, despite the recent renovations. The fire risk score of 6/10 is concerning and could result in higher insurance premiums, potentially 10-15% above average. The heat risk score of 8/10 is severe, which could lead to increased cooling costs during summer months, estimated at an additional $100-$150 per month. The local schools have below-average ratings (Edna F Hinman Elementary School rated 1/10, Lyal Burkholder Junior High School 4/10, and Basic Academy of Int'l Studies High School 3/10), which may impact long-term property value appreciation. The property has been on and off the market several times in the past year, with multiple price changes, suggesting potential challenges in selling.

The Ugly

The extreme price volatility in the property's history is concerning. It sold for just $41,000 in 2009 (during the financial crisis) and has since experienced wild swings in value. This level of volatility (over 500% increase since 2009) suggests high market sensitivity and potential for significant drops in economic downturns. The severe heat risk (8/10) combined with the property's age could necessitate HVAC system upgrades in the near future, potentially costing $5,000-$8,000. The low school ratings in the area (average 2.67/10) could significantly impact future resale value and limit the buyer pool. The HOA fees, while including some utilities, are not fully disclosed and could be subject to increases, potentially impacting affordability. The property's days on market (4) and recent price reductions suggest possible overpricing or market resistance, which could lead to further price negotiations or extended selling time.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for first-time homebuyers or young professionals with a household income of $70,000-$80,000, based on the median income of $81,736 in the area and estimated monthly costs. It's ideal for those prioritizing modern finishes and energy efficiency, as the recent renovations and tankless water heater provide these benefits. Investors looking for short-term rentals could benefit from the property's location and upgrades, with potential monthly rental income of $2,190 based on local 3-bedroom rental rates, yielding a potential cap rate of 6-7%. The property is also suitable for small families or couples who value space and don't have school-age children, given the low local school ratings.

Not For

This property is not suitable for buyers seeking long-term appreciation in a stable market, given its history of extreme price volatility. Families with school-age children may want to look elsewhere due to the below-average school ratings. Individuals sensitive to heat or with respiratory issues should be cautious due to the severe heat risk (8/10) and potential air quality concerns during certain seasons. The property may not be ideal for those looking for a low-maintenance home, as its age (built in 1984) suggests potential future repairs despite recent renovations. Buyers seeking a quiet, non-HOA community would not find this property suitable.
Demographics
Area Median Income

$81,736

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Risk Assessment

Climate Risks

heatSEVERE

7 extreme heat days per year

98th percentile: 108°F

fireMAJOR

Insurance: Required

airMINOR

1 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

The fire risk score of 6/10 and severe heat risk of 8/10 present significant concerns for insurance costs and energy expenses. These climate risks could lead to insurance premiums 10-20% above average and summer cooling costs 25-35% higher than properties with lower risk scores. The property's price history shows extreme volatility, with a 500%+ increase since 2009, suggesting high sensitivity to market conditions and potential for significant value drops in economic downturns. The low school ratings (average 2.67/10) could impact long-term appreciation and resale value. Despite recent renovations, the property's age (37 years) suggests potential for major systems failures in the next 5-10 years, including HVAC ($5,000-$8,000), roofing ($8,000-$12,000), and plumbing ($3,000-$5,000). The multiple listing attempts and price changes in the past year indicate potential market resistance or overpricing, which could affect negotiation leverage for buyers.
Insurance
Annual Cost

$932

$78 per month

Financials

Monthly Costs
Market Rent (3 bed)

$2,190

Get a detailed rental estimate on Zillow®
HOA Fee

$412

Price History

Property Taxes

$409
2024 Tax Assessment
3.0%from previous year
Assessed Value$39,718
Tax Rate1.03%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$389,294

50.3% above list price

Median Price

$449,995

Based on 6 recent sales

Price per Sq.Ft

$271

Comparable Properties

688 Moonlight Mesa Drive, Henderson, NV 89011
Price: $465,000
Sq.Ft: 1,534
Beds/Baths: 3/2
$/Sq.Ft:
$30361.0%
Sale Date: 12/21/2024
540 E Rolly Street, Henderson, NV 89011
Price: $405,000
Sq.Ft: 1,248
Beds/Baths: 4/2
$/Sq.Ft:
$32572.4%
Sale Date: 12/3/2024
621 Black Sand Court, Henderson, NV 89011
Price: $370,000
Sq.Ft: 1,382
Beds/Baths: 4/2
$/Sq.Ft:
$26842.2%
Sale Date: 10/24/2024
67 Sonata Dawn Avenue, Henderson, NV 89011
Price: $458,270
Sq.Ft: 1,523
Beds/Baths: 3/2
$/Sq.Ft:
$30159.9%
Sale Date: 10/17/2024
538 Kristin Lane, Henderson, NV 89011
Price: $187,500
Sq.Ft: 1,376
Beds/Baths: 3/2
$/Sq.Ft:
$13627.6%
Sale Date: 9/3/2024
96 Cadence Crest Avenue, Henderson, NV 89011
Price: $449,995
Sq.Ft: 1,523
Beds/Baths: 3/2
$/Sq.Ft:
$29557.0%
Sale Date: 9/19/2024

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