5250 S Rainbow Boulevard 2032, Las Vegas, NV 89118, Las Vegas, 89118 - 2 bed, 2 bath
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Las Vegas, NV 89118
This updated guard-gated residence is a Prime Investment Opportunity, listed at $279,900—positioned well below the $348,241 Fair Market Value by 19%. This significant valuation gap offers $68,341 in Instant Equity. The unit maintains a Good Condition Rating featuring brand-new ceramic tile floors and a rare 2-car garage. Located near top-rated Marion B Earl Elementary, the property combines resort-style living with strong financial fundamentals. It is an ideal 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 |
|---|---|---|---|---|---|---|
★ 5250 S Rainbow Boulevard 2032 Subject | $279,900* List Price | 2 | 2 | 1,034 | $337 | - |
A 5250 S RAINBOW BL Boulevard 1004 Sold | $250,000 | 3 | 2 | 1,131 | $221 | 0.0 mi |
B 5250 S Rainbow Boulevard 2126 Sold | $298,000 List Price | 3 | 2 | 1,131 | 0.2 mi | |
C 5250 S Rainbow Boulevard 1004 Sold | $250,000 | 3 | 2 | 1,131 | $221 | 0.0 mi |
D 5250 S RAINBOW BL Boulevard 2002 Sold | $250,000 | 2 | 2 | 1,034 | $242 | 0.0 mi |
E 5022 S Rainbow Boulevard 204 Sold | $220,000 | 2 | 2 | 1,091 | $202 | 0.3 mi |
F 5250 S Rainbow Boulevard 2002 Sold | $250,000 | 2 | 2 | 1,034 | $242 | 0.1 mi |
G 5250 S Rainbow Boulevard 1027 Active | $299,999 List Price | 3 | 2 | 1,131 | $265 | 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 updates, most notably the brand-new ceramic tile flooring throughout and recessed lighting. While the building dates back to 1997, the interior has been well-maintained and partially modernized. The bathroom shows an updated vanity and clean fixtures, though some elements like the tile countertops reflect an older style. Overall, the unit is in great condition with no immediate renovations required, fitting the criteria for a 'good' rating.
Unlike most condominiums that offer limited parking or carports, this unit includes a rare 2-car garage, providing exceptional value for secure parking and additional storage.
The property is situated in a premier guard-gated community, offering residents enhanced privacy, security, and a well-maintained resort-style atmosphere.
Featuring brand-new ceramic tile flooring throughout and modern updates, this condo is move-in ready, reducing the need for immediate capital expenditure from the buyer.
The monthly HOA fee of $423 is relatively high for a mid-range condo, which may impact the debt-to-income ratio and overall monthly affordability for some buyers.
Being located on the second floor may limit the property's appeal to buyers with mobility concerns or those specifically seeking the convenience of a ground-level unit.
Inside Spanish Palms, a guard-gated community that feels like a lush, tropical getaway - must see community! This beautifully updated 2-bedroom 2nd floor unit features brand-new ceramic tile floors throughout, a private balcony perfect for relaxing or entertaining, and a rare 2-car garage for added convenience and storage. Surrounded by swaying palm trees and manicured greenery, the community exudes a resort-like atmosphere, offering a serene escape while being conveniently located near shopping, dining, and entertainment. This home is more than a home; it’s a lifestyle waiting for you to enjoy.
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 | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,034 | 1,034 | 50% |
| Lot Size | 15,903 | - | 91% |
| Price | $279.9K | $184.5K | 94% |
| Price per sq ft | $271 | $205 | 95% |
| Built year | 1997 | 1996 | 52% |
| HOA | $423 | $220 | 91% |
| Days on market | 61 | 986 | 3% |
Feb 20, 2026
$279,900
Initial Listing