1221 Rainbow Meadows Drive, Las Vegas, NV 89128, Las Vegas, 89128 - 3 bed, 2 bath
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Las Vegas, NV 89128
This Single-Story Residential Asset represents a High-Potential Investment Opportunity, listed at $415,000—positioned above the $395,537 Fair Market Value. While priced at a premium, the property offers significant long-term utility savings via a Paid-Off Solar System and the financial flexibility of No HOA Fees. Featuring a Condition Rating of 4, the home is move-in ready but invites cosmetic modernization to maximize value. Its functional layout and proximity to local amenities make this an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a stable, customizable home.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1221 Rainbow Meadows Drive Subject | $410,000* List Price | 3 | 2 | 1,487 | $264 | - |
A 1628 Sierra Hills Way Sold | $365,000 | 3 | 2 | 1,322 | $276 | 0.3 mi |
B 1813 Navajo Lake Way Sold | $383,000 | 3 | 3 | 1,481 | $259 | 0.5 mi |
C 1813 NAVAJO LAKE Way Sold | $383,000 | 3 | 3 | 1,481 | $259 | 0.5 mi |
D 7600 Vista Hills Drive Sold | $347,777 | 3 | 3 | 1,478 | $235 | 0.7 mi |
E 1729 Villa Vista Way Sold | $375,000 List Price | 3 | 2 | 1,322 | 0.5 mi | |
F 1533 Wintergreen Drive Sold | $390,000 | 3 | 2 | 1,284 | $304 | 0.3 mi |
G 7600 Vista Hills Drive Sold | $415,000 List Price | 3 | 3 | 1,478 | 0.7 mi | |
H 903 VANTAGE POINT Road Sold | $315,000 | 3 | 3 | 1,300 | $242 | 0.7 mi |
I 1845 Villa Vista Way Pending | $415,000 List Price | 3 | 3 | 1,481 | $280 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1994 (30 years old), the home is functional and move-in ready but remains largely in original condition. While it has been freshly painted and includes a paid-off solar system, the bathrooms feature dated oak cabinetry and 90s-era fixtures, and the carpeting shows visible wear, necessitating cosmetic updates and modernization.
The absence of a Homeowners Association provides significant monthly savings and greater flexibility for property modifications, a rare find in this sought-after area near Summerlin.
The property includes a fully paid-off solar lease, offering immediate energy efficiency and substantial long-term savings on utility bills in the Las Vegas climate.
This functional single-story floor plan appeals to a wide range of buyers, from first-time owners to those looking to downsize, ensuring strong marketability and accessibility.
While the middle school is well-rated, the local high school and one elementary school have lower ratings, which may be a consideration for education-focused families.
With a lot size of approximately 4,356 square feet, outdoor space is relatively limited, which may not suit buyers looking for a large backyard or extensive landscaping.
WELCOME TO 1221 RAINBOW MEADOWS DR.! Fantastic opportunity for first-time homebuyers, investors, or anyone seeking single story living near Summerlin without HOA fees. Freshly painted this 3 bedroom home features a functional floor plan, paid-off solar lease for energy savings, and a prime location close to shopping, dining, parks, schools, and major roadways. Rare opportunity to own a single-story home with NO HOA in a sought after Las Vegas neighborhood.
No exterior & parking available.
Grades PK-5 • 0.5 mi
Grades PK-5 • 0.6 mi
Grades 6-8 • 2.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,487 | - |
| Lot Size | 4,356 | - |
| Price | $410.0K | $474.8K |
| Price per sq ft | $276 | $257 |
| Built year | 1994 | 0 |
| HOA | $0 | $0 |
| Days on market | 43 | 526 |
Jun 25, 2026
$410,000
$415,000
-1% Price Drop
Initial Listing
Jun 10, 2026
$415,000
Initial Listing
Dec 3, 1993
$104,000
Public Record