Right. Which is kind of why I'd like to see what would be involved with doing one.
I'd imagine you would have to strip the laminate, cut the shaft off, add the joint, lathe the groove for a wrap, refinish the laminate, wrap the cue then make the shaft to add.
Am I close?
Sort of close. Most house cues need some attention to the butt. Are you sure it is dead straight? A lot of builders would not like to bother with cutting a wrap groove in a butt that isn't true. It might be "straight" enough to play fine, but is it really straight? Heck, sometimes house cues are not even truly round.
1. Cut the cue in half.
2. Center drill the joint end and butt end.
3. Take a truing cut.
4. Install collar (and a butt cap?).
5. Take final cut to flush collar to cue (depending on type of collar) and get the joint to standard size for shaft mating.
6. Install joint pin.
7. Install bumper (existing bumper might be big and ugly, needs attention, etc)
8. Final sand and seal.
9. Cut wrap groove and seal groove.
10. Finish butt.
11. Wrap cue.
12. Make/add shaft.
Details and the order of some above will vary from builder to builder, this is just a hastily written list to give you an idea.
A cost for a shaft from a typical builder is roughly $100-125. So, you have that cost right away before you start adding all of the work on the butt. A few things like not including collars would be less work, but I have never seen a wrapped cue without collars.
If the shaft was suitable, no wrap was being added, collars were not desired, a simple chop job where a pin is added to the butt and shaft threads/insert added to the shaft would be faster and cheaper. What you describe sounds considerably different.
I hope this helps.