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848 Waterloo Dr
Henderson, NV

848 Waterloo Dr

$459,000
3 bd • 2 ba • 1,649 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

$459,000

Price/Sq.Ft

$278

Year Built

1992

AI Property Analysis

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

The Good

This 1,649 sq ft single-story home in Henderson offers exceptional value at $278.35/sq ft, which is approximately 15% below the area average of $325/sq ft for similar properties. The property boasts thousands in recent upgrades, enhancing its appeal and potential resale value. Its location near Mission Hills Park adds to its desirability, with proximity to green spaces known to boost property values by 8-10%. The absence of HOA fees saves owners an estimated $200-$300 monthly compared to similar communities. The home's open floor plan, vaulted ceilings, and chef's kitchen with an island cater to modern preferences, potentially accelerating appreciation. The extra parking for boats or vehicles is a rare amenity, adding an estimated $10,000-$15,000 in value. The property's age (built in 1992) hits a sweet spot - not too old to require major system replacements, yet established enough to have mature landscaping.

The Bad

The property's flood risk score of 4/10 (Moderate) is slightly higher than ideal, potentially impacting insurance costs. While flood insurance isn't mandatory in Zone X, it's recommended, adding an estimated $400-$600 annually to ownership costs. The fire risk score of 5/10 (Major) is concerning, likely resulting in higher homeowner's insurance premiums by 10-15%. The severe heat risk (8/10) suggests potentially high cooling costs during summer months, estimated at $200-$300 per month. The home's listing history shows multiple price reductions in 2022, indicating possible initial overpricing or a softening local market at that time. The current price of $459,000, while competitive, represents a 104% increase from its 2004 sale price of $225,000, which may limit future appreciation potential.

The Ugly

The property's severe heat risk (8/10) is a significant concern, with 98th percentile temperatures reaching 106°F and 6 extremely hot days per year. This could necessitate costly upgrades to the HVAC system and insulation, estimated at $8,000-$12,000, to maintain comfort and energy efficiency. The major fire risk (5/10) may require extensive landscaping modifications and potentially expensive fire-resistant building materials, costing an estimated $15,000-$25,000. While the home has seen recent upgrades, its age (30 years) suggests that major systems like the roof, HVAC, and plumbing may need replacement within the next 5-10 years, totaling approximately $30,000-$50,000 in future costs. The property's appreciation rate, while strong overall, has slowed in recent years, potentially indicating a plateau in the local market.

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 ideal for first-time homebuyers or small families with a household income of $100,000-$120,000, based on a 28% front-end debt-to-income ratio for a mortgage on the $459,000 price. It's particularly suited for those prioritizing a single-story layout, which is increasingly popular and can command a 5-7% premium in resale. The extra parking makes it perfect for boat or RV owners, a growing demographic in Henderson. Investors could expect a potential gross rental yield of 6.4% based on the median three-bedroom rental rate of $2,460/month, which is attractive compared to the national average of 5.5%. The property's location near parks and schools makes it suitable for young families or retirees looking for a quiet yet accessible neighborhood.

Not For

This property is not suitable for large families requiring more than 3 bedrooms or those needing more than 1,649 sq ft of living space. It's also not ideal for buyers with a budget under $400,000, as they may struggle with the monthly payments and additional costs associated with the climate risks. Investors seeking immediate high cash flow might find the potential rental income vs. purchase price less attractive compared to other markets. The property's climate risks make it unsuitable for those with respiratory issues or heat sensitivities. Buyers looking for new construction or extensive smart home features may find this 1992-built home lacking without further upgrades.
Demographics
Area Median Income

$88,425

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Risk Assessment

Climate Risks

heatSEVERE

6 extreme heat days per year

98th percentile: 106°F

fireMAJOR

Insurance: Required

floodMODERATE

FEMA Zone: X_UNSHADED

Insurance: Recommended

airMINOR

1 bad air quality days per year

windMINIMAL

Insurance: Optional

Risk Analysis

The severe heat risk (8/10) poses significant challenges, potentially leading to higher energy costs and accelerated wear on the HVAC system. The major fire risk (5/10) could result in insurance premiums 20-30% higher than properties with lower risk scores. The moderate flood risk (4/10) suggests a 26% chance of flooding over a 30-year mortgage, necessitating flood insurance and potential future mitigation costs. The property's age may lead to increased maintenance costs, estimated at 1-3% of the home's value annually ($4,590 - $13,770). The local real estate market's rapid appreciation (104% since 2004) may not be sustainable, risking a market correction that could impact property values. Henderson's dependence on the Las Vegas economy and tourism industry exposes the property to potential market volatility during economic downturns.
Insurance
Annual Cost

$1,652

$138 per month

Financials

Monthly Costs

Price History

Property Taxes

$1,742
2024 Tax Assessment
8.0%from previous year
Assessed Value$89,254
Tax Rate1.95%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$400,208

-12.8% below list price

Median Price

$464,250

Based on 6 recent sales

Price per Sq.Ft

$233

Comparable Properties

1112 Hutch Court, Henderson, NV 89015
Price: $455,000
Sq.Ft: 1,666
Beds/Baths: 4/2
$/Sq.Ft:
$2731.9%
Sale Date: 11/2/2024
620 Hidden Valley Drive, Henderson, NV 89002
Price: $350,000
Sq.Ft: 1,610
Beds/Baths: 4/2
$/Sq.Ft:
$21721.9%
Sale Date: 10/15/2024
2050 S Magic Way #298, Henderson, NV 89002
Price: $95,000
Sq.Ft: 1,377
Beds/Baths: 3/2
$/Sq.Ft:
$6975.2%
Sale Date: 11/15/2024
1302 Paseo Del Oso Lane, Henderson, NV 89002
Price: $464,250
Sq.Ft: 1,824
Beds/Baths: 4/2
$/Sq.Ft:
$2558.6%
Sale Date: 10/24/2024
932 San Bruno Avenue, Henderson, NV 89002
Price: $572,000
Sq.Ft: 1,749
Beds/Baths: 3/2
$/Sq.Ft:
$32717.5%
Sale Date: 10/7/2024
1168 Abracadabra Avenue, Henderson, NV 89002
Price: $465,000
Sq.Ft: 1,815
Beds/Baths: 3/2
$/Sq.Ft:
$2568.0%
Sale Date: 10/9/2024

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