5116 Gray Lane E, Las Vegas, NV 89119, Las Vegas, 89119 - 1 bed, 1 bath
5116 Gray Lane E
Las Vegas, NV 89119
Property Price
SUMMARY
Analysis of 5116 Gray Lane E, Las Vegas, NV 89119 is currently available with a list price of $199,900. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Las Vegas Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Although built in 1977, the property is described as newly remodeled and turnkey. The interior features modern updates including new flooring, a fully renovated kitchen with updated appliances, and a refreshed bathroom. These extensive recent renovations meet the criteria for excellent condition with no deferred maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Central Location
The property is ideally situated near UNLV, Harry Reid International Airport, and major shopping and entertainment districts, making it highly attractive for students, professionals, and investors.
- Turnkey Remodeled Interior
Being newly remodeled, this townhome offers a modern living space that allows for immediate occupancy without the need for additional renovation time or expense.
- Enhanced Security and Amenities
The guard-gated community provides a high level of security and privacy, complemented by desirable lifestyle amenities including a community pool and clubhouse.
CONSRISKS & DEFICIENCIES
- Limited Square Footage
At just 716 square feet with a single bedroom, the property offers limited living and storage space, which may restrict the potential buyer pool to individuals or couples.
- Low School Ratings
The assigned public schools for this address have low performance ratings, which could be a significant drawback for families and may impact long-term resale value.
About 5116 Gray Lane E
Centrally located! Newly remodeled 1 bedroom with 1 bath townhome with attached 1 car garage. Close to airport, UNLV, shopping and entertainment! Guard Gated community! Community with pool and clubhouse!
Property Details
Public Facts
- Property Type
- Townhouse
- Year Built
- 1977
- Lot Size
- 4,293 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $240 / Month
Neighborhood Insights
Las Vegas Unified Schools
Gene Ward Elementary School
Grades PK-5 • 0.6 mi
Jack Dailey Elementary School
Grades PK-5 • 0.9 mi
Helen C Cannon Junior High School
Grades 6-8 • 1.6 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 12% |
| Baths | 1.0 | 2.0 | 6% |
| Square foot | 716 | 1,405 | 6% |
| Lot Size | 4,293 | 1,742 | 71% |
| Price | $199.9K | $195.0K | 59% |
| Price per sq ft | $279 | $147 | 94% |
| Built year | 1977 | 1980 | 35% |
| HOA | $240 | $170 | 59% |
| Days on market | 44 | 863 | 6% |
Pricing History
Listed for Sale
Jan 22, 2026
$199,900
Initial Listing
Sold
Jun 9, 1995
$152,500
Public Record