5250 S Rainbow Boulevard 1012, Las Vegas, NV 89118, Las Vegas, 89118 - 1 bed, 1 bath
5250 S Rainbow Boulevard 1012
Las Vegas, NV 89118
Property Price
SUMMARY
Analysis of 5250 S Rainbow Boulevard 1012, Las Vegas, NV 89118 is currently available with a list price of $199,999. 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 1997, this condo is well-maintained and move-in ready but retains most of its original features. The kitchen includes older white appliances and dated cabinetry, and the overall interior finishes reflect the property's age rather than modern renovation standards, consistent with the 'Fair' classification for aged but functional homes.
PROSSTRENGTHS & OPPORTUNITIES
- Attached Garage with Direct Access
A rare and highly desirable feature for a one-bedroom condo, the attached one-car garage provides enhanced security, convenience, and additional storage space.
- Resort-Style Community Amenities
The guard-gated Spanish Palms community offers premium amenities including two pools, a spa, a fitness center, a dog park, and a putting green, providing a high-end lifestyle experience.
- Prime Spring Valley Location
Ideally situated just 10 minutes from the Las Vegas Strip, this location offers residents quick access to world-class dining, shopping, and major employment hubs.
CONSRISKS & DEFICIENCIES
- High Association Fees
The monthly association fee of $448 is relatively high for a 744-square-foot, one-bedroom unit, which may impact monthly affordability and investor cash flow.
- Aging Infrastructure
Built in 1997, the property and its original systems may soon require capital improvements or cosmetic updates to remain competitive with newer modern developments.
About 5250 S Rainbow Boulevard 1012
Welcome home to the Spanish Palms community! This first-floor, 1-bedroom, 1-bathroom condo offers comfortable single-level living with an attached 1-car garage with direct access. The open-plan living room with fireplace and dining area flows seamlessly to a covered patio. The guard-gated neighborhood provides peace of mind and a host of resort-style amenities, including two pools, a spa, clubhouse, fitness center, dog park, putting green, lush landscaping, and serene park-like surroundings. Enjoy the unbeatable convenience of being just 10 minutes west of the Strip, close to shopping, dining, and entertainment. With so many community perks and a prime location in the heart of Spring Valley, this gem is a must-see!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1997
- Lot Size
- 23,308 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $448 / Month
Neighborhood Insights
Las Vegas Unified Schools
Marion B Earl Elementary School
Grades PK-5 • 0.4 mi
Grant Sawyer Middle School
Grades 6-8 • 0.4 mi
Durango High School
Grades 9-12 • 0.4 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 33% |
| Baths | 1.0 | 2.0 | 34% |
| Square foot | 744 | 1,053 | 24% |
| Lot Size | 23,308 | - | 96% |
| Price | $200.0K | $172.0K | 62% |
| Price per sq ft | $269 | $196 | 96% |
| Built year | 1997 | 1995 | 57% |
| HOA | $448 | $221 | 99% |
| Days on market | 88 | 570 | 4% |
Pricing History
Listed for Sale
Dec 9, 2025
$199,999
Initial Listing