5250 South Rainbow Boulevard 1164, Las Vegas, NV 89118, Las Vegas, 89118 - 3 bed, 2 bath
Loading property details...
Las Vegas, NV 89118
This 3-bedroom condominium represents a High-Potential Investment Opportunity, listed at a List Price of $270,000—positioned well above the $226,167 Fair Market Value by 19%. While the property features a Condition Rating of 4 and desirable amenities like a Granite Kitchen and Private Balcony, the current pricing reflects a premium over market estimates. Located near the 215 freeway and top-rated schools, this unit offers a stable lifestyle for Buy-and-Hold Investors or first-time buyers seeking a resort-style community with FHA approval.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 South Rainbow Boulevard 1164 Subject | $270,000* List Price | 3 | 2 | 1,131 | $200 | - |
A 5250 S RAINBOW Boulevard 2126 Sold | $192,900 List Price | 3 | 2 | 1,131 | 0.1 mi | |
B 5076 S Rainbow Boulevard 106 Sold | $239,950 List Price | 3 | 2 | 1,163 | 0.1 mi | |
C 5250 S RAINBOW Boulevard 2130 Sold | $204,888 List Price | 3 | 2 | 1,131 | 0.1 mi | |
D 5250 S Rainbow Boulevard 2126 Sold | $298,000 List Price | 3 | 2 | 1,131 | 0.1 mi | |
E 5250 S Rainbow Boulevard 1004 Sold | $250,000 | 3 | 2 | 1,131 | $221 | 0.1 mi |
F 5012 S Rainbow Boulevard 101 Sold | $205,000 List Price | 2 | 2 | 1,091 | 0.2 mi | |
G 5250 S Rainbow Boulevard 1010 Active | $324,900 List Price | 3 | 2 | 1,131 | $287 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1997 (29 years old), the property is approaching the 30-year mark. While the description mentions granite counters, the overall age suggests that major systems and bathrooms are likely dated and may require updates or minor repairs 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.
This rare ground-floor unit features a spacious 3-bedroom layout with a private garage and storage, providing the convenience of easy access and extra utility often missing in condo living.
Ideally situated near the 215 freeway and within walking distance to elementary, middle, and high schools, offering excellent connectivity and convenience for families and commuters.
The monthly association fee of $432 is relatively high for this price point, which may impact the debt-to-income ratio for some buyers and increase overall monthly carrying costs.
Built in 1997, the property and its mechanical systems are nearly 30 years old, which may necessitate future capital expenditures for maintenance or modernization beyond the existing cosmetic upgrades.
Spanish Palms is a FHA approved community. Relaxed style of desert resort living with conveniences of city life within close reach. Beautiful ground level 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 • 0.4 mi
Grades 9-12 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 71% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,131 | 1,091 | 55% |
| Lot Size | - | - | 50% |
| Price | $270.0K | $199.9K | 87% |
| Price per sq ft | $239 | $219 | 74% |
| Built year | 1997 | 1994 | 52% |
| HOA | $432 | $220 | 90% |
| Days on market | 21 | 363 | 3% |
May 25, 2026
$270,000
Initial Listing