2451 North Rainbow Boulevard 2004, Las Vegas, NV 89108, Las Vegas, 89108 - 1 bed, 1 bath
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2451 North Rainbow Boulevard 2004
Las Vegas, NV 89108
ACTIVE
CONDITION: FAIR
1Beds
1Baths
720Sq Ft
0Lot Size
Property Price
LIST PRICE$137,900
EST. MARKET VALUE
$111,496
23% AboveMARKET VALUE
SUMMARY
This condominium presents a High-Potential Investment Opportunity with a List Price of $137,900—positioned well below the $111,497 Fair Market Value by -23%. While the property requires cosmetic updates due to its Fair Condition Rating, the inclusion of a community pool, clubhouse, and gym provides strong rental appeal. Despite the higher association fees and lower-rated local schools, the entry price point offers a clear path for value-add strategies. This asset is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking an affordable entry into the Las Vegas market.
Estimated Market Value
$111,496
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 2004 Subject | $137,900* List Price | 1 | 1 | 720 | $155 | - |
A 2801 North Rainbow Boulevard 106 Sold | $133,000 | 1 | 1 | 695 | $191 | 0.5 mi |
B 2700 N RAINBOW BL Boulevard 1137 Sold | $150,000 | 2 | 2 | 997 | $150 | 0.3 mi |
C 2700 N Rainbow Boulevard 1137 Sold | $150,000 | 2 | 2 | 997 | $150 | 0.3 mi |
D 2451 N Rainbow Boulevard 1020 Active | $157,500 List Price | 1 | 1 | 720 | $219 | 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 is dated and shows visible wear. While the kitchen features some past updates to cabinetry and countertops, the appliances are older white models. The carpet is significantly worn and stained, and the unit requires minor repairs and cosmetic updates like flooring and paint to be fully move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Market Value
Priced competitively at $137,900, this unit offers an affordable entry point into the Las Vegas market, especially considering it is listed below its 2006 sale price of $145,000.
- Robust Community Amenities
The property includes access to a comprehensive suite of amenities including a community pool, clubhouse, and gym, providing significant lifestyle value for a one-bedroom residence.
- Functional Living Space
The 720-square-foot layout is efficiently designed with a single-story flow and includes a private balcony, offering a desirable blend of indoor comfort and outdoor relaxation space.
CONSRISKS & DEFICIENCIES
- High Carrying Costs
The monthly association fee of $331 is relatively high in proportion to the listing price, which may impact monthly affordability for first-time buyers and reduce net ROI for investors.
- Low School Ratings
The assigned middle and high schools are rated 3/10, which could be a deterrent for long-term appreciation and limit the pool of potential future buyers or tenants.
About 2451 North Rainbow Boulevard 2004
Discover a vibrant lifestyle in this charming condominium located at 2451 N Rainbow Blvd Unit 2004, offering a perfect blend of comfort and convenience in Las Vegas. This delightful residence presents one spacious bedroom and one full bathroom, providing ample space for relaxation and daily living. With 720 square feet of meticulously designed living area, this single-story home provides an effortless flow throughout. The interior is enhanced with practical blinds, ensuring privacy and light control. Step outside to a private balcony, an ideal spot for enjoying the desert evenings or a morning coffee. The kitchen comes equipped with a microwave, catering to modern culinary needs. Situated in a dynamic neighborhood, residents benefit from easy access to local amenities and the exciting opportunities Las Vegas has to offer. This property epitomizes convenient living in a desirable location. Complete with a community pool, clubhouse, and gym.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1988
- Lot Size
- -
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $331 / Month
Neighborhood Insights
Las Vegas Unified Schools
Lilly & Wing Fong Elementary School
Grades PK-5 • 0.4 mi
6/10
Irwin & Susan Molasky Junior High School
Grades 6-8 • 2.1 mi
3/10
Cimarron Memorial High School
Grades 9-12 • 0.6 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 720 | 1,059.468 |
| Lot Size | - | 6,055.359 |
| Price | $137.9K | $225.8K |
| Price per sq ft | $192 | $213 |
| Built year | 1988 | 1996 |
| HOA | $331 | $254 |
| Days on market | 47 | 71 |
Pricing History
Listed for Sale
Jul 24, 2026
$137,900
Initial Listing
Sold
Jul 5, 2006
$145,000
Public Record