5140 Indian River Drive 306, Las Vegas, NV 89103, Las Vegas, 89103 - 2 bed, 2 bath
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5140 Indian River Drive 306
Las Vegas, NV 89103
ACTIVE
CONDITION: GOOD
2Beds
2Baths
978Sq Ft
978Lot Size
Property Price
LIST PRICE$199,500
EST. MARKET VALUE
$186,832
6% AboveMARKET VALUE
SUMMARY
This Turnkey Condominium represents a Strong Value Opportunity, listed at $199,500—positioned slightly above the $186,832 Fair Market Value. While priced at a premium, the property maintains a Good Condition Rating with recent cosmetic renovations, including new flooring and modern lighting. Residents enjoy a resort-style lifestyle with a pool, fitness center, and park views, all within 15 minutes of the Las Vegas Strip. This property is an ideal acquisition for first-time homebuyers or turnkey investors seeking a low-maintenance, move-in ready asset in a highly convenient location.
Estimated Market Value
$186,832
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 |
|---|---|---|---|---|---|---|
★ 5140 Indian River Drive 306 Subject | $199,500* List Price | 2 | 2 | 978 | $191 | - |
A 5576 W Rochelle Avenue 32A Sold | $209,000 | 2 | 2 | 1,058 | $198 | 0.3 mi |
B 5278 River Glen Drive 419 Sold | $187,000 | 2 | 2 | 978 | $191 | 0.1 mi |
C 4411 Alexis Drive 448 Sold | $160,000 | 2 | 2 | 978 | $164 | 0.1 mi |
D 4430 Sandy River Drive 27 Sold | $215,000 List Price | 2 | 2 | 978 | 0.2 mi | |
E 5422 River Glen Drive 379 Sold | $175,000 | 2 | 2 | 978 | $179 | 0.2 mi |
F 5576 West Rochelle Avenue 6 C Sold | $206,000 | 2 | 2 | 1,058 | $195 | 0.3 mi |
G 5242 Osman Court 54 Sold | $255,520 List Price | 2 | 2 | 1,080 | 0.2 mi | |
H 5267 Lisagayle Court 136 Sold | $219,000 | 2 | 2 | 1,080 | $203 | 0.3 mi |
I 5240 Indian River Drive 274 Active | $210,000 List Price | 2 | 2 | 978 | $215 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1982, the property has undergone a recent cosmetic renovation (<5 years) featuring brand-new flooring, carpet, and modern lighting. The kitchen and appliances appear functional and well-maintained but are not fully modernized, placing it firmly in the 'Good' category as a move-in ready unit.
PROSSTRENGTHS & OPPORTUNITIES
- Turnkey Renovations
The unit is move-in ready with brand-new flooring, plush carpet, modern fixtures, and all appliances included, offering immediate value without the need for renovation costs.
- Strategic Location
Ideally situated just 15 minutes from the Las Vegas Strip and Harry Reid International Airport, providing excellent convenience for commuters, students, and investors.
- Comprehensive Community Amenities
Residents benefit from a guard-gated environment featuring resort-style perks including a pool, fitness center, and tennis courts, enhancing both security and lifestyle.
CONSRISKS & DEFICIENCIES
- Property Age
Built in 1982, the building's age may lead to higher long-term maintenance needs for common areas or structural components compared to newer developments.
- Average School Ratings
The assigned middle and high schools carry lower performance ratings (4/10 and 5/10), which could be a consideration for families focused on top-tier educational districts.
About 5140 Indian River Drive 306
Move-in ready and beautifully updated! This 2-bedroom, 2-bath condo features brand-new flooring, plush new carpet, modern light fixtures, and all appliances included, making your move as easy as possible. Enjoy resort-style living in this guard-gated community, complete with a sparkling community pool, fitness center, and tennis courts—everything you need to relax, stay active, and enjoy the amenities just steps from home. Perfectly situated in a prime Las Vegas location, you'll enjoy unbeatable convenience with Harry Reid International Airport just 15 minutes away, the Las Vegas Strip only 15 minutes away, and UNLV just 20 minutes away. The nearest grocery store is less than 10 minutes away, making everyday errands quick and convenient. The unit is also ideally located near guest parking, making it easy to welcome family and friends. Whether you're a first-time homebuyer, downsizing, or searching for a turnkey investment opportunity, this condo offers the perfect blend of comfort, convenience, and lifestyle. With tasteful updates already completed and all appliances included, all that's left to do is move in. Don't miss your opportunity to own this beautifully renovated home in one of Las Vegas' most convenient communities. Schedule your private showing today!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1982
- Lot Size
- 978 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $307 / Month
Neighborhood Insights
Las Vegas Unified Schools
Joseph E Thiriot Elementary School
Grades PK-5 • 0.3 mi
6/10
Kenny C Guinn Middle School
Grades 6-8 • 1.1 mi
5/10
Grant Sawyer Middle School
Grades 6-8 • 1.9 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 978 | 1,059.468 |
| Lot Size | 978 | 6,055.359 |
| Price | $199.5K | $225.8K |
| Price per sq ft | $204 | $213 |
| Built year | 1982 | 1996 |
| HOA | $307 | $254 |
| Days on market | 53 | 71 |
Pricing History
Listed for Sale
Jul 18, 2026
$199,500
Initial Listing