5072 South Rainbow Boulevard 205, Las Vegas, NV 89118, Las Vegas, 89118 - 2 bed, 1 bath
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Las Vegas, NV 89118
This condominium presents a Strong Value Opportunity with a List Price of $200,000—positioned well above the $183,669 Fair Market Value by 8%. While the property requires updates to its original 1987 finishes, it offers a Condition Rating of 5, providing a blank canvas for value-add renovations. Located in the gated Vizcaya community with resort-style amenities and proximity to top-rated schools like Marion B Earl Elementary, this is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a project with long-term potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5072 South Rainbow Boulevard 205 Subject | $200,000* List Price | 2 | 1 | 949 | $194 | - |
A 5012 S Rainbow Boulevard 101 Sold | $205,000 List Price | 2 | 2 | 1,091 | 0.1 mi | |
B 5022 S Rainbow Boulevard 204 Sold | $220,000 | 2 | 2 | 1,091 | $202 | 0.2 mi |
C 5030 S Rainbow Boulevard 105 Active | $205,000 List Price | 2 | 2 | 1,091 | $188 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property was built in 1987 (39 years old) and appears to have original kitchen and bathroom finishes. The oak cabinetry, laminate countertops, and white appliances are significantly dated and require a full rehab to meet modern standards, consistent with the >30-year age criteria.
The gated Vizcaya community offers a robust amenity package including a pool, spa, tennis courts, fitness center, and clubhouse, providing a resort-style living experience that adds significant value.
Ideally situated near major shopping, dining, and entertainment hubs, the property also boasts excellent proximity to schools, with elementary, middle, and high schools all within a half-mile radius.
The inclusion of all kitchen appliances plus an in-unit washer and dryer, combined with the cozy fireplace and second-floor views, makes this a highly functional and move-in-ready option for buyers.
With a construction date of 1987, the property may require updates to its mechanical systems or interior finishes to compete with more modern condominium developments in the Las Vegas market.
The two-bedroom, one-bathroom configuration may be a drawback for roommates or small families, potentially limiting the property's appeal compared to units offering a second bathroom.
Welcome to this charming 2-bedroom, 1-bath condominium located in the desirable gated Vizcaya community with community pool/spa, tennis, fitness room and clubhouse! Situated on the second floor, this inviting residence offers beautiful views overlooking the community. The open living room features a cozy fireplace, creating a warm and comfortable space to relax or entertain. The kitchen comes complete with all appliances, and the in-unit washer and dryer provide added everyday convenience. Enjoy resort-style living with gated security and beautifully maintained community amenities in a prime location close to shopping, dining, and entertainment.
No exterior & parking available.
Grades PK-5 • 0.3 mi
Grades 6-8 • 0.5 mi
Grades 9-12 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 1.0 | 0.0 |
| Square foot | 949 | - |
| Lot Size | - | - |
| Price | $200.0K | $217.2K |
| Price per sq ft | $211 | $219 |
| Built year | 1987 | 0 |
| HOA | $194 | $0 |
| Days on market | 26 | 828 |
Jun 26, 2026
$200,000
Initial Listing