5228 Painted Lakes Way, Las Vegas, NV 89149, Las Vegas, 89149 - 4 bed, 4 bath
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Las Vegas, NV 89149
This Turnkey Guard-Gated Residence is a High-Potential Investment Opportunity, listed at $710,888—positioned well below the $1,118,423 Fair Market Value by 36%. This significant valuation gap provides $407,535 in Instant Equity. Featuring a Condition Rating of 3, the home boasts a private pool and spa, mountain views, and a granite kitchen with Sub-Zero refrigeration. Located near Dean Lamar Allen Elementary, this property balances luxury lifestyle with massive financial upside. It is an exceptional acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5228 Painted Lakes Way Subject | $655,000 | 4 | 4 | 2,862 | $391 | - |
A 7917 Aspect Way Sold | $835,000 | 4 | 3 | 3,136 | $266 | 0.5 mi |
B 8016 Golfers Oasis Drive Sold | $605,000 | 4 | 3 | 2,755 | $220 | 0.7 mi |
C 7876 Aspect Way Way Sold | $625,000 List Price | 4 | 3 | 3,128 | 0.5 mi | |
D 7876 ASPECT Way Sold | $550,000 List Price | 4 | 3 | 3,128 | 0.5 mi | |
E 7901 ASTRAL Avenue Sold | $575,000 List Price | 4 | 4 | 2,853 | 0.5 mi | |
F 7709 Tinted Mesa Court Sold | $720,000 | 4 | 3 | 2,645 | $272 | 0.2 mi |
G 5228 Painted Lakes Way Active | $764,888 List Price | 4 | 4 | 2,862 | $267 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features significant recent cosmetic updates, including new flooring and fresh paint throughout. The kitchen is well-equipped with granite countertops and high-end stainless steel appliances, including a Sub-Zero refrigerator. While the home was built in 1988, the interior has been well-maintained with updated cabinetry and modern fixtures, though some bathroom elements like the integrated countertops show their age. Overall, the property meets the criteria for a well-maintained home with functional major systems and recent aesthetic improvements.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12197, living area = 2862.
Situated in the prestigious Painted Desert with double-gate security, the property offers a high-security lifestyle with access to premium amenities including pickleball, tennis, and a clubhouse.
The expansive 12,197 sq. ft. corner lot features a private oasis with a pool, spa, water features, built-in grill, and mountain views, ideal for high-end entertaining.
Built in 1988, the property may soon require significant capital improvements for major systems such as the roof, HVAC, or pool equipment that are nearing the end of their typical functional lifespan.
With 110 days on the market and a final sale price nearly 8% below the list price, the property's history suggests initial overpricing or potential buyer friction during the inspection period.
PRICE IMPROVEMENT! Make yourself at home in this MOVE IN READY 2-story, 4-bed, 4-bath gem on a CORNER LOT in guard-gated Painted Desert! Entertain in the open layout featuring soaring ceilings, new flooring, a cozy two-way fireplace, and a wet bar off the living room. The kitchen offers granite counters, stainless steel appliances, sub-zero fridge, island, & breakfast bar. FIRST FLOOR BEDROOM! Downstairs includes a bedroom with full bath, powder room for guests, & a flex space perfect for a den, office, or 4th bedroom. Upstairs, the spacious primary suite features a balcony, walk-in closet, and a two-way fireplace facing a soaking tub and walk-in shower. Outside, enjoy a private backyard with pool, spa, water features, covered patio, and built-in grill. Located in the Palm Canyon subdivision with 24/7 guard gate plus added privacy gate. Enjoy pickleball, tennis, clubhouse, and more just minutes from shopping, dining, and I-95. Schedule your showing today and discover this desert oasis!
No exterior & parking available.
Grades PK-5 • 1.0 mi
Grades PK-5 • 1.3 mi
Grades 6-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 4.0 | 0.0 |
| Square foot | 2,862 | - |
| Lot Size | 12,197 | - |
| Price | $655.0K | $474.8K |
| Price per sq ft | $229 | $257 |
| Built year | 1988 | 0 |
| HOA | $162 | $0 |
| Days on market | 364 | 526 |
No pricing history data available.