5002 South Rainbow Boulevard 206, Las Vegas, NV 89118, Las Vegas, 89118 - 3 bed, 2 bath
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Las Vegas, NV 89118
This Turnkey Condominium is a Strong Value Opportunity, listed at $249,500—positioned above the $225,196 Fair Market Value by 10%. While priced slightly above market, the property features a Good Condition Rating with recent updates including fresh paint and new flooring. Residents benefit from resort-style amenities, including a pool, spa, and tennis courts, alongside proximity to top-rated local schools like Marion B. Earl Elementary. This home offers a balanced lifestyle for first-time buyers or owner-occupants seeking a move-in ready residence in a prime, gated Las Vegas community.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5002 South Rainbow Boulevard 206 Subject | $249,500* List Price | 3 | 2 | 1,163 | $194 | - |
A 5076 S Rainbow Boulevard 106 Sold | $239,950 List Price | 3 | 2 | 1,163 | 0.0 mi | |
B 5038 S Rainbow Boulevard 206 Sold | $240,000 | 3 | 2 | 1,163 | $206 | 0.2 mi |
C 5012 S Rainbow Boulevard 101 Sold | $205,000 List Price | 2 | 2 | 1,091 | 0.0 mi | |
D 5250 S Rainbow Boulevard 2126 Sold | $298,000 List Price | 3 | 2 | 1,131 | 0.2 mi | |
E 5250 S RAINBOW Boulevard 2130 Sold | $204,888 List Price | 3 | 2 | 1,131 | 0.2 mi | |
F 5030 S Rainbow Boulevard 101 Sold | $250,000 | 3 | 2 | 1,163 | $215 | 0.1 mi |
G 5030 South Rainbow Boulevard 206 Active | $242,800 List Price | 3 | 2 | 1,163 | $209 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1987, the property falls into the >30y age bracket, but the recent 'fresh paint and new flooring' updates and 'beautifully updated' description elevate it to Good condition. It is move-in ready and well-maintained, though the 37-year-old structural age and lack of detail on HVAC/Electric updates keep it from an Excellent rating.
The property features fresh paint and new flooring throughout, providing a modern, move-in-ready aesthetic that appeals to buyers looking to avoid immediate renovation costs.
Situated in a premiere spot within the gated Vizcaya community, this unit is located directly next to the pool and clubhouse, offering unparalleled convenience to resort-style amenities.
Unlike many standard condominiums, this home boasts two private balconies, significantly increasing the functional living space and providing multiple areas for outdoor relaxation.
The community clubhouse is currently undergoing renovation, which may limit resident access to facilities and create temporary construction-related noise or aesthetic issues.
With 54 days on the market and a recent price reduction, the property may be facing challenges with its initial valuation or current buyer demand in the 89118 zip code.
Beautifully updated 3-bedroom, 2-bath upstairs condo in the gated community of Vizcaya at The Trails. Premiere location, next to the pool and clubhouse, this home offers both convenience and a resort-style setting. Fresh paint and new flooring create a clean, while the open layout provides comfortable living and entertaining space. Enjoy two private balconies—perfect for morning coffee or evening relaxation. The spacious primary suite features a walk-in closet and en-suite bathroom. The residents enjoy access to tennis and pickleball courts, maintained grounds, and a secure gated environment. Clubhouse undergoing renovation. Conveniently located near shopping, dining, and major roadways, this home offers both lifestyle and accessibility. A rare opportunity to own in a prime location with exceptional amenities and everyday ease.
No exterior & parking available.
Grades PK-5 • 0.3 mi
Grades 6-8 • 0.6 mi
Grades 9-12 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,163 | - |
| Lot Size | 8,016 | - |
| Price | $249.5K | $217.2K |
| Price per sq ft | $215 | $219 |
| Built year | 1987 | 0 |
| HOA | $222 | $0 |
| Days on market | 105 | 828 |
May 29, 2026
$249,500
$252,000
-1% Price Drop
Initial Listing
Apr 8, 2026
$252,000
Initial Listing