2451 North Rainbow Boulevard 1123, Las Vegas, NV 89108, Las Vegas, 89108 - 3 bed, 2 bath
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2451 North Rainbow Boulevard 1123
Las Vegas, NV 89108
ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,237Sq Ft
6,566Lot Size
Property Price
LIST PRICE$199,000
EST. MARKET VALUE
$202,594
SUMMARY
This property presents a Strong Value Opportunity with a List Price of $199,000—positioned well below the $202,594 Fair Market Value by 1.8%. This valuation gap offers $3,594 in Instant Equity for the buyer. Featuring a Fair Condition Rating, the unit offers a functional 3-bedroom layout with recent laminate flooring, though it remains a prime candidate for cosmetic modernization. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking an accessible entry point into the Las Vegas market.
Estimated Market Value
$202,594
Based on Realkey algorithm analyzing recent comparable sales in Las Vegas.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2451 North Rainbow Boulevard 1123 Subject | $199,000* List Price | 3 | 2 | 1,237 | $164 | - |
A 2451 N RAINBOW Boulevard 1116 Sold | $189,000 | 2 | 2 | 1,128 | $168 | 0.0 mi |
B 2451 N Rainbow Boulevard 1116 Sold | $189,000 | 2 | 2 | 1,128 | $168 | 0.0 mi |
C 2451 N Rainbow Blvd 1083 Sold | $175,000 | 2 | 2 | 1,128 | $155 | 0.1 mi |
D 2801 N Rainbow Boulevard 178 Sold | $225,000 | 3 | 2 | 1,103 | $204 | 0.3 mi |
E 2801 North RAINBOW BL Boulevard 241 Sold | $165,000 | 2 | 2 | 944 | $175 | 0.3 mi |
F 2801 North Rainbow Boulevard 101 Sold | $160,000 | 2 | 2 | 944 | $169 | 0.3 mi |
G 2028 WILLOWBURY Drive B Sold | $155,000 List Price | 2 | 2 | 1,074 | 0.8 mi | |
H 2451 N Rainbow Boulevard 2127 Active | $230,000 List Price | 3 | 2 | 1,237 | $186 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1988 (36 years old), the property falls into the Fair category. While it features updated laminate flooring throughout, the kitchen cabinetry and laundry area appear dated and show signs of age. The unit is functional and move-in ready but requires cosmetic updates and minor repairs to modernize.
PROSSTRENGTHS & OPPORTUNITIES
- Spacious 3-Bedroom Layout
Offering 1,237 square feet with three full bedrooms, this unit provides rare space and versatility for a condominium at this price point, making it ideal for families or roommates.
- Exceptional Market Value
Priced competitively at $199,000, this property represents a highly accessible entry point into the Las Vegas real estate market for first-time buyers and investors alike.
- Functional Single-Story Design
The single-story interior layout maximizes accessibility and ease of movement, providing a practical living environment that appeals to a wide range of demographics.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6566, other record lot size in square feet = 6695.
- High Association Fees
The monthly HOA fee of $380 is relatively high compared to the listing price, which may impact the buyer's debt-to-income ratio and overall monthly affordability.
- Dated Construction
Built in 1988, the property may require modern cosmetic updates or infrastructure improvements to meet the standards of contemporary buyers and newer developments.
About 2451 North Rainbow Boulevard 1123
The private balcony offers a serene outdoor retreat that defines the tranquil atmosphere of this Las Vegas residence. Located on Rainbow Boulevard, this condominium provides 1,237 square feet of living space designed for comfort and ease. Inside, the home features a single-story layout containing three bedrooms and two full bathrooms. The interior spaces are equipped with blinds and a microwave, keeping the daily routine simple and functional. This property sits on a lot of 0.15 acres. Enjoy the convenience of condominium living in a prime location within the 89108 area.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1988
- Lot Size
- 6,566 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $380 / Month
Neighborhood Insights
Las Vegas Unified Schools
Lilly & Wing Fong Elementary School
Grades PK-5 • 0.6 mi
6/10
Irwin & Susan Molasky Junior High School
Grades 6-8 • 1.9 mi
3/10
Cimarron Memorial High School
Grades 9-12 • 0.7 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,237 | 1,059.468 |
| Lot Size | 6,566 | 6,055.359 |
| Price | $199.0K | $225.8K |
| Price per sq ft | $161 | $213 |
| Built year | 1988 | 1996 |
| HOA | $380 | $254 |
| Days on market | 21 | 71 |
Pricing History
Listed for Sale
Aug 19, 2026
$199,000
Initial Listing