5156 Gray Lane G, Las Vegas, NV 89119, Las Vegas, 89119 - 2 bed, 2 bath
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Las Vegas, NV 89119
This Strategic Residential Asset is listed at $229,000, representing a functional acquisition near the Las Vegas Strip and UNLV. While the $198,279 Fair Market Value reflects a Condition Rating of 4 due to dated 1977 finishes, the property features a Private One-Car Garage—a rare amenity that secures rental premiums in this submarket. Supported by proximity to Jack Dailey Elementary and Helen C Cannon Junior High, the 2-bedroom, 2-bathroom layout offers a stable foundation for a value-add strategy. This property is a prudent selection for Buy-and-Hold Investors or first-time buyers targeting a high-demand rental corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5156 Gray Lane G Subject | $229,000* List Price | 2 | 2 | 1,070 | $185 | - |
A 5040 Spencer Street D Sold | $220,000 | 2 | 2 | 1,000 | $220 | 0.7 mi |
B 1751 E Reno Avenue 128 Sold | $188,485 | 2 | 2 | 1,164 | $162 | 0.6 mi |
C 1729 Jupiter Court B Sold | $170,000 | 2 | 2 | 980 | $173 | 1.0 mi |
D 1751 E Reno Avenue 128 Sold | $188,485 | 2 | 2 | 1,164 | $162 | 0.6 mi |
E 1751 E RENO Avenue 217 Sold | $199,500 | 2 | 2 | 1,164 | $171 | 0.6 mi |
F 1467 HIALEAH Drive D Sold | $163,000 | 2 | 2 | 976 | $167 | 0.7 mi |
G 5126 Golden Lane A Active | $239,900 List Price | 2 | 2 | 1,070 | $224 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1977, the property is over 45 years old and shows significant dating. While functional, the interior features older cabinetry, popcorn ceilings, and worn carpeting on the stairs. It requires cosmetic updates and minor repairs to meet modern standards, fitting the criteria for a property over 20 years old with dated finishes.
The property is strategically located just minutes from the Las Vegas Strip and UNLV, offering high appeal for commuters, students, and hospitality professionals.
The inclusion of a one-car garage is a significant advantage for a condominium, providing secure parking and additional storage space rarely found at this price point.
With a competitive list price of $229,000 for a 2-bedroom, 2-bathroom unit, this property offers an accessible entry point for first-time buyers or rental investors.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4240, other record lot size in square feet = 484.
Built in 1977, the property may require updates to its mechanical systems and interior finishes to meet modern efficiency and aesthetic standards.
The assigned public schools, including the high school and one elementary school, have low performance ratings, which may limit the property's appeal to families.
Discover an exceptional opportunity to embrace a vibrant lifestyle in this beautiful two-bedroom, two-bath condominium, nestled within a secure guard-gated community. This residence offers an unparalleled blend of comfort and convenience, perfect for those seeking a dynamic urban experience with serene home living. The thoughtful design extends to a private one-car garage, adding to the ease of daily life. Residents will delight in the community's refreshing swimming pool, providing a perfect escape without ever leaving home. Situated mere minutes from the dazzling Las Vegas Strip, UNLV, and Harry Reid Airport, this location offers incredible accessibility to entertainment, education, and travel. Everyday necessities are effortlessly met with nearby shopping centers and schools, making this an ideal setting for a balanced and fulfilling life. The covered patio provides a delightful outdoor space for relaxation. This two-story townhouse, boasting 702 square feet of living area on a substantial 0.1-acre lot, presents a unique blend of privacy and community amenities.
No exterior & parking available.
Grades PK-5 • 0.5 mi
Grades PK-5 • 0.9 mi
Grades 6-8 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 1.0 | 58% |
| Square foot | 1,070 | 880 | 84% |
| Lot Size | 4,240 | 216 | 86% |
| Price | $229.0K | $107.5K | 98% |
| Price per sq ft | $214 | $164 | 83% |
| Built year | 1977 | 1980 | 36% |
| HOA | $269 | $175 | 78% |
| Days on market | 52 | 1577 | 2% |
Apr 23, 2026
$229,000
Initial Listing
Mar 22, 1996
$12,500
Public Record