5185 Indian River Drive Unit 227, Las Vegas, NV 89103, Las Vegas, 89103 - 1 bed, 1 bath
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5185 Indian River Drive Unit 227
Las Vegas, NV 89103
ACTIVE
CONDITION: FAIR
1Beds
1Baths
700Sq Ft
4,138Lot Size
Property Price
LIST PRICE$149,900
EST. MARKET VALUE
$135,741
10% AboveMARKET VALUE
SUMMARY
This Strong Value Opportunity is a Condominium listed at $159,900, positioned above the $150,762 Fair Market Value. While the price reflects a premium, the property offers a Fair Condition Rating with modern Granite Countertops and Tile Flooring. Residents benefit from resort-style amenities, including six pools and 24-hour guard-gated security. Located near Joseph E Thiriot Elementary School, this unit provides a stable lifestyle for Buy-and-Hold Investors or first-time buyers seeking a move-in ready residence with immediate access to the Las Vegas Strip.
Estimated Market Value
$135,741
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 |
|---|---|---|---|---|---|---|
★ 5185 Indian River Drive Unit 227 Subject 1 bd · 1 ba · 700 sqft · $194 | $149,900* List Price | 1 | 1 | 700 | $194 | - |
A 5081 River Glen Drive 113 Sold 1 bd · 1 ba · 700 sqft · $183 · 0.1 mi | $128,000 | 1 | 1 | 700 | $183 | 0.1 mi |
B 5160 Indian River Drive 346 Sold 1 bd · 1 ba · 700 sqft · $179 · 0.1 mi | $125,000 | 1 | 1 | 700 | $179 | 0.1 mi |
C 5350 River Glen Drive 298 Sold 1 bd · 1 ba · 700 sqft · $186 · 0.2 mi | $130,000 | 1 | 1 | 700 | $186 | 0.2 mi |
D 4941 River Glen Drive 10 Sold 1 bd · 1 ba · 700 sqft · $225 · 0.2 mi | $157,500 | 1 | 1 | 700 | $225 | 0.2 mi |
E 5121 River Glen Drive 138 Sold 2 bd · 1 ba · 816 sqft · $202 · 0.1 mi | $165,000 | 2 | 1 | 816 | $202 | 0.1 mi |
F 5404 River Glen Drive 361 Sold 2 bd · 2 ba · 978 sqft · $183 · 0.2 mi | $178,500 | 2 | 2 | 978 | $183 | 0.2 mi |
G 5220 Indian River Drive 280 Sold 2 bd · 2 ba · 978 sqft · $174 · 0.1 mi | $170,000 | 2 | 2 | 978 | $174 | 0.1 mi |
H 5163 Indian River Drive 199 Pending 1 bd · 1 ba · 700 sqft · $200 · 0.0 mi | $139,990 List Price | 1 | 1 | 700 | $200 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1982 (42 years old), the property has undergone partial renovations including granite countertops and tile flooring. However, the kitchen and bathroom cabinetry, fluorescent lighting, and appliances remain dated. While well-maintained and move-in ready, it fits the 'Fair' category due to its age and the need for further cosmetic updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Resort-Style Amenities
The community offers an exceptional amenity package including six pools, three clubhouses, and 24-hour guard-gated security, providing a high-value lifestyle for residents.
- Prime Location
Ideally situated just minutes from the Las Vegas Strip with easy freeway access and proximity to diverse shopping and dining options, enhancing its appeal for both owners and tenants.
- Move-In Ready Condition
This first-floor unit features modern granite countertops, durable tile flooring throughout, fresh interior paint, and includes all appliances, reducing immediate post-purchase expenses.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1982, the property and its underlying systems are over 40 years old, which may lead to higher long-term maintenance needs compared to newer constructions.
- Market Stagnation
The property has been on the market for nearly 60 days and has already seen a price reduction, which may indicate initial overpricing or lower demand for this specific unit type.
About 5185 Indian River Drive Unit 227
BEAUTIFUL WELL LOCATED CONDO ON THE "FIRST FLOOR (ZERO STAIRS, QUICK ENTRY & EXIT). "UNIQUE LIFETIME TILE FLOORS THROUGHOUT THE WHOLE FLOOR" (Enjoy peace of mind with WATERPROOF, INDESTRUCTIBLE TILE FLOORING). EXPERIENCE THE EASY LIVING ADVANTAGE OF A FIRST FLOOR UNIT— PERFECT FOR FAST MOVING, QUICK GROCERY TRIPS & ZERO STEP RESTRICTION. PERFECT FOR ALL GENERATIONS, THE SINGLE-LEVEL LAYOUT ENSURES SAFETY, CONVENIENCE, EFFORTLESS & PEACE OF MIND. FRESH INTERIOR PAINT, CLOSE TO STRIP, COZY COVERED BALCONY. LAUNDRY SPACE & RESORT STYLE LIVING IN A 24 HOUR GUARD GATED COMMUNITY, STYLISH GRANITE COUNTER TOPS KITCHEN & BATHROOM! ALL APPLIANCES ARE INCLUDED. CONDO HAS A STORAGE ROOM, MORE CLOSETS & MORE CABINET SPACES. Community has six pools, 3 clubhouses, 3 well maintained tennis courts, outdoor and indoor spas, three gyms cabanas, barbecue area, playground and much more. JUST A FEW MINUTES AWAY FROM THE LAS VEGAS STRIP. This is close to lots of shopping, several dining, groceries, school and easy access to the freeway. Location, location. One or more photos have been virtually staged.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1982
- Lot Size
- 4,138 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $252 / Month
Neighborhood Insights
Las Vegas Unified Schools
Joseph E Thiriot Elementary School
Grades PK-5 • 0.4 mi
6/10
Kenny C Guinn Middle School
Grades 6-8 • 1.2 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 | 1.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 700 | 1,048.989 |
| Lot Size | 4,138 | 5,669.706 |
| Price | $149.9K | $221.6K |
| Price per sq ft | $214 | $210 |
| Built year | 1982 | 1996 |
| HOA | $252 | $254 |
| Days on market | 155 | 70 |
Pricing History
Listed for Sale
Sep 3, 2026
$149,900
$155,000
-3% Price Drop
Initial Listing
Price Change
Aug 14, 2026
$155,000
$159,900
-3% Price Drop
Initial Listing
Price Change
Jul 1, 2026
$159,900
$165,000
-3% Price Drop
Initial Listing
Price Change
May 22, 2026
$165,000
Initial Listing