285 East Shelbourne Avenue, Las Vegas, NV 89123, Las Vegas, 89123 - 5 bed, 4 bath
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285 East Shelbourne Avenue
Las Vegas, NV 89123
ACTIVE
CONDITION: FAIR
5Beds
4Baths
2,737Sq Ft
49,658Lot Size
Property Price
LIST PRICE$984,900
EST. MARKET VALUE
$1,083,670
9% BelowMARKET VALUE
SUMMARY
This multi-dwelling property presents a Strong Value Opportunity, listed at $999,900—positioned well below the $1,089,536 Fair Market Value by 8%. This valuation gap offers $89,636 in Instant Equity. Featuring a 4-Condition Rating, the home includes a detached casita, equestrian facilities, and an oversized swimming pool on over an acre of land. With no HOA and proximity to major infrastructure, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking income-producing potential and lifestyle flexibility.
Estimated Market Value
$1,083,670+$98,770 Equity Potential
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 |
|---|---|---|---|---|---|---|
★ 285 East Shelbourne Avenue Subject | $984,900* List Price | 5 | 4 | 2,737 | $396 | - |
A 7744 Rancho Destino Road Pending | $1,250,000 List Price | 4 | 3 | 3,056 | $409 | 0.8 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 1974, the property has undergone cosmetic refreshments including newer laminate flooring, paint, and updated backsplashes. However, it remains dated with popcorn ceilings, older cabinetry, and basic kitchen/bath layouts. While functional and move-in ready, the age of the structure and systems suggests a need for modernization and minor repairs to meet current market standards.
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 = 49658, living area = 2737.
- Multi-Dwelling Versatility
The property includes a detached 761 sqft casita with a full kitchen and private driveway, providing excellent potential for rental income, a home office, or multigenerational living.
- Prime Location and Growth
Situated on over an acre of unrestricted land with no HOA, the property is minutes from the future Brightline high-speed rail station and Allegiant Stadium, offering significant investment upside.
CONSRISKS & DEFICIENCIES
- Property Age
Built in 1974, the main residence and outbuildings may require significant modernization or capital improvements to compete with newer luxury developments in the area.
- Niche Market Appeal
The specialized equestrian infrastructure and large lot size cater to a specific buyer profile, which may result in a longer marketing period compared to standard residential homes.
About 285 East Shelbourne Avenue
RARE RANCH-STYLE HOME ON 1.14-ACRE LOT*DETACHED GUEST HOUSE*OVERSIZED POOL*NO HOA*Tucked away in a peaceful neighborhood surrounded by custom homes just blocks from South Las Vegas Boulevard. The main home is 1,976 sqft with 4 bedrooms, 3 bathrooms, entertaining kitchen and an open-concept layout. The detached guest house (casita) is 761 sqft with 1 bedroom, 1 bathroom, full kitchen, private carport, and separate driveway, ideal for multigenerational living, guests, rental income, or home office. The backyard is a huge canvas open to your exact vision, design a sports oasis or your dream RV garage with rooftop deck. This versatile property is horse-zoned and offers a fully equipped equestrian setup. Come see for yourself the endless possibilities this rare, incredibly located property has to offer.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1974
- Lot Size
- 49,658 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 4.0 | 3.0 |
| Square foot | 2,737 | 1,961.945 |
| Lot Size | 49,658 | 6,098 |
| Price | $984.9K | $486.0K |
| Price per sq ft | $360 | $259 |
| Built year | 1974 | 2002 |
| HOA | $0 | $83 |
| Days on market | 63 | 62 |
Pricing History
Listed for Sale
Aug 30, 2026
$984,900
$999,900
-2% Price Drop
Initial Listing
Price Change
Jul 8, 2026
$999,900
Initial Listing