5206 Mandalay Springs Drive 204, Las Vegas, NV 89120, Las Vegas, 89120 - 3 bed, 2 bath
5206 Mandalay Springs Drive 204
Las Vegas, NV 89120
Property Price
SUMMARY
Analysis of 5206 Mandalay Springs Drive 204, Las Vegas, NV 89120 is currently available with a list price of $236,500. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. 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 moderate renovation needed.
Built in 1995, this property is nearly 30 years old and appears to be in its original condition without major recent renovations. While the listing highlights that it is exceptionally well-maintained and clean with well-preserved flooring, the kitchen and bathrooms feature dated styles and functional but older appliances. It fits the 'fair' criteria as an aged home maintained through regular upkeep but showing signs of being outdated.
PROSSTRENGTHS & OPPORTUNITIES
- Attractive Financing Option
The availability of a 4% assumable loan provides a significant competitive advantage, offering buyers a much lower interest rate than current market averages.
- Exceptional Maintenance
The property is in pristine condition with well-preserved flooring due to a strict no-shoes policy, suggesting a high level of pride in ownership and reduced immediate repair needs.
- Comprehensive Community Amenities
Located in a secure gated community, residents have access to premium facilities including three swimming pools, a fitness center, and a clubhouse with a game room.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4967, other record lot size in square feet = 1681.
- High Monthly HOA Fees
The $357 monthly association fee is relatively high for this price point, which may impact the overall affordability and debt-to-income ratio for budget-conscious buyers.
- Potential for Modernization
Built in 1995 without mention of recent kitchen or bathroom renovations, the unit may require capital investment to update finishes and appliances to modern standards.
About 5206 Mandalay Springs Drive 204
4% ASSUMABLE LOAN available subject to lender approval on this well-maintained 3-bedroom, 2-bath condo located in a quiet gated community. This home features a spacious living area with a fireplace and an open layout. Flooring has been well preserved as shoes have never been worn inside. The kitchen offers a functional layout with ample storage, and the adjoining dining and living areas create a comfortable flow for everyday living. The primary bedroom includes an en-suite bathroom and generous closet space. Community amenities include three swimming pools, fitness center, clubhouse with game room, and guest parking. Conveniently located near the Las Vegas Strip, UNLV, shopping, dining, Sprouts, Walmart, and Sam’s Club. Centrally located with easy access to entertainment, schools, and major roadways.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1995
- Lot Size
- 4,967 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $357 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 80% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,190 | 998 | 84% |
| Lot Size | 4,967 | 1,981 | 93% |
| Price | $236.5K | $180.0K | 79% |
| Price per sq ft | $199 | $196 | 59% |
| Built year | 1995 | 1995 | 50% |
| HOA | $357 | $244 | 95% |
| Days on market | 127 | 596 | 11% |
Pricing History
Listed for Sale
Oct 31, 2025
$236,500
Initial Listing
Sold
Apr 28, 1995
$84,000
Public Record