5250 S Rainbow Boulevard 1102, Las Vegas, NV 89118, Las Vegas, 89118 - 2 bed, 2 bath
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Las Vegas, NV 89118
This Strong Value Opportunity is listed at a List Price of $260,000, positioned slightly above the $243,737 Fair Market Value. While the price reflects a premium, the property offers a Condition Rating of 4, featuring a Granite Kitchen, Gas Fireplace, and a Private Garage. Located in an FHA-approved community with resort-style amenities like a Pool and Fitness Studio, it provides a stable lifestyle near the 215 freeway. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a convenient, amenity-rich residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 S Rainbow Boulevard 1102 Subject | $260,000* List Price | 2 | 2 | 1,034 | $236 | - |
A 5012 S Rainbow Boulevard 101 Sold | $205,000 List Price | 2 | 2 | 1,091 | 0.2 mi | |
B 5022 S Rainbow Boulevard 204 Sold | $220,000 | 2 | 2 | 1,091 | $202 | 0.3 mi |
C 5250 S Rainbow Boulevard 1004 Sold | $250,000 | 3 | 2 | 1,131 | $221 | 0.1 mi |
D 5250 S Rainbow Boulevard 2101 Sold | $200,000 | 1 | 1 | 744 | $269 | 0.0 mi |
E 5250 S Rainbow Boulevard 2108 Active | $267,900 List Price | 2 | 2 | 1,034 | $259 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1997, the property is 29 years old, placing it in the >20y category. While the description mentions granite counters, the age of the structure and systems suggests the unit is likely dated and will require minor repairs or cosmetic updates to meet modern standards.
The community is FHA approved and offers extensive resort-style amenities including a pool, fitness studio, and putting green, making it highly accessible and attractive for first-time buyers.
The unit features desirable upgrades like granite countertops and a gas fireplace, along with the rare inclusion of a private garage with storage, providing significant added value and convenience.
Ideally situated minutes from the 215 freeway and within walking distance of elementary, middle, and high schools, the property offers exceptional accessibility for commuters and families.
The monthly HOA fee of $432 is relatively high compared to the listing price, which may impact the monthly affordability and debt-to-income ratio for potential buyers.
The assigned public schools for this address currently hold average to below-average ratings (4-5 out of 10), which could be a concern for families prioritizing high-performing educational districts.
Spanish Palms is a FHA approved community. Relaxed style of desert resort living with conveniences of city life within close reach. Beautiful 3 bed, 2 bath home features open floor plan, generous kitchen with granite counters, gas fireplace, large walk-in closet, private balcony, garage with storage. Spanish Palms offers resort-style amenities at home including a pool, grills, clubhouse, fitness studio, pet park, putting green & more! Minutes to the 215 freeway.
No exterior & parking available.
Grades PK-5 • 0.3 mi
Grades 6-8 • 0.3 mi
Grades 9-12 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,034 | 1,036 | 48% |
| Lot Size | - | - | 50% |
| Price | $260.0K | $199.9K | 84% |
| Price per sq ft | $251 | $219 | 77% |
| Built year | 1997 | 1994 | 52% |
| HOA | $432 | $220 | 90% |
| Days on market | 22 | 364 | 3% |
May 25, 2026
$260,000
Initial Listing