479 South Water Street, Henderson, NV 89015, Henderson, 89015 - 5 bed, 1 bath
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479 South Water Street
Henderson, NV 89015
ACTIVE
CONDITION: EXCELLENT
5Beds
1Baths
1,258Sq Ft
8,276Lot Size
Property Price
LIST PRICE$339,000
EST. MARKET VALUE
$363,051
6% BelowMARKET VALUE
SUMMARY
This Spacious Single Family Residence is a Strong Value Opportunity, listed at $339,000—positioned well below the $363,052 Fair Market Value by 6%. This valuation gap offers $24,052 in Instant Equity for the buyer. Featuring an Excellent Condition Rating with a new roof, windows, and luxury flooring, the home offers a turnkey lifestyle near Gordon Mccaw Elementary. With Paid-Off Solar and a prime Water Street location, this property is ideal for Buy-and-Hold Investors or first-time buyers seeking immediate value.
Estimated Market Value
$363,051+$24,051 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Henderson.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 479 South Water Street Subject | $339,000* List Price | 5 | 1 | 1,258 | $289 | - |
A 532 Federal Street Sold | $340,000 | 3 | 2 | 1,204 | $282 | 0.1 mi |
B 243 Tungsten Street Sold | $369,000 | 3 | 2 | 1,102 | $335 | 0.9 mi |
C 478 South Water Street Sold | $335,000 | 3 | 1 | 1,042 | $321 | 0.0 mi |
D 3 Wyoming Avenue Sold | $300,000 | 4 | 2 | 1,170 | $256 | 0.6 mi |
E 66 E Ocean Avenue Sold | $335,000 | 4 | 2 | 1,053 | $318 | 0.2 mi |
F 171 Lido Circle Sold | $435,000 | 3 | 2 | 1,356 | $321 | 0.5 mi |
G 472 National Street Active | $379,500 List Price | 4 | 2 | 1,532 | $248 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Despite the 1953 build date, the property qualifies as excellent due to a comprehensive recent renovation (under 5 years). Key updates include a brand new roof, new windows, and new luxury vinyl plank flooring throughout. The kitchen is fully modernized with updated cabinetry, countertops, and stainless steel appliances, presenting a move-in ready, mint-condition interior.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 1258.
- Great Schools
Elementary School: Gordon Mccaw Elementary School (9/10).
- Prime Downtown Location
Situated directly on Water Street, this property offers exceptional walkability to Henderson's vibrant dining, shopping, and entertainment district, including the America First Center.
CONSRISKS & DEFICIENCIES
- Poor Bathroom-to-Bedroom Ratio
With 5 potential bedrooms and only 1 bathroom, the home's configuration is functionally challenging for large families or multi-generational living.
- Limited Square Footage
At only 1,258 square feet, the high bedroom count suggests that individual rooms and common living areas may feel cramped and lack sufficient storage space.
About 479 South Water Street
*SOLAR PAID IN FULL with full price offer* Rare opportunity in the heart of Downtown Henderson! This spacious 4-bedroom home offers the potential for a 5th bedroom with the simple addition of a closet, providing flexibility for growing households, multi-generational living, a home office, or guest space. Thoughtfully updated with brand new roof, new windows, and new luxury vinyl plank flooring throughout, this home combines modern improvements with an unbeatable location. Situated directly on Water Street, you'll enjoy walking-distance access to Henderson's vibrant downtown scene, including restaurants, coffee shops, bars, boutique shopping, parks, community events, and the America First Center ice skating rink. Whether you're looking for a primary residence, investment opportunity, or a home with room to grow, this property offers exceptional value in one of Henderson's most desirable and walkable neighborhoods. Experience the convenience, character, and energy of Downtown Henderson right outside your front door.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1953
- Lot Size
- 8,276 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Henderson Unified Schools
Gordon Mccaw Elementary School
Grades PK-5 • 0.3 mi
9/10
Robert L Taylor Elementary School
Grades PK-5 • 0.6 mi
2/10
Edna F Hinman Elementary School
Grades PK-5 • 2.9 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 1.0 | 3.0 |
| Square foot | 1,258 | 2,064.015 |
| Lot Size | 8,276 | 6,098 |
| Price | $339.0K | $525.0K |
| Price per sq ft | $269 | $265 |
| Built year | 1953 | 2005 |
| HOA | $0 | $110 |
| Days on market | 28 | 70 |
Pricing History
Listed for Sale
Aug 12, 2026
$339,000
Initial Listing