5250 S Rainbow Boulevard 2058, Las Vegas, NV 89118, Las Vegas, 89118 - 3 bed, 2 bath
5250 S Rainbow Boulevard 2058
Las Vegas, NV 89118
Property Price
SUMMARY
Analysis of 5250 S Rainbow Boulevard 2058, Las Vegas, NV 89118 is currently available with a list price of $289,900. 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 property is well-maintained and move-in ready but falls into the fair category due to its age (27 years) and lack of recent major renovations. While the listing describes it as pristine, the kitchen and bathrooms feature dated styles and fixtures consistent with the original construction era, and major mechanical systems are approaching the end of their typical lifespan.
PROSSTRENGTHS & OPPORTUNITIES
- Rare Attached 2-Car Garage
Unlike most area condominiums that offer only carports or detached spaces, this unit includes a private 2-car attached garage, providing superior security, convenience, and storage capacity.
- Premium Guard-Gated Amenities
The Spanish Palms community offers a high-security guard-gated entrance and an extensive amenity package, including two pools, a gym, a dog park, and a putting green, which drives strong tenant demand.
- Strategic Southwest Location
Positioned in the rapidly expanding Southwest valley, the property offers excellent proximity to the Las Vegas Strip, Harry Reid International Airport, and upscale retail, ensuring long-term investment stability.
CONSRISKS & DEFICIENCIES
- High Monthly HOA Fees
At $432 per month, the association fees are relatively high for a condo at this price point, which may impact the net monthly cash flow for investors and overall affordability for buyers.
- Property Age and Infrastructure
Built in 1997, the nearly 30-year-old building and its mechanical systems may require more frequent maintenance or future capital improvement assessments compared to newer developments in the area.
About 5250 S Rainbow Boulevard 2058
Discover a premier INVESTMENT opportunity with this pristine 3 BEDROOM condo at Spanish Palms, 5250 South Rainbow Blvd. Nestled in a highly sought-after GUARD GATED community, this upstairs unit offers a 2-car attached garage with full-size washer and clothes dryer. Enjoy access to top-tier amenities, including two pools, a clubhouse, gym, dog park, putting green, and beautifully maintained mature landscaping. Located in the rapidly growing Southwest valley, this condo is just minutes from upscale shopping, dining, entertainment, the Las Vegas Strip, and Harry Reid International Airport, making it an excellent rental property or long-term investment in one of Las Vegas' most vibrant areas.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1997
- Lot Size
- -
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $432 / Month
Neighborhood Insights
Las Vegas Unified Schools
Marion B Earl Elementary School
Grades PK-5 • 0.3 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 | 3.0 | 2.0 | 74% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,131 | 1,070 | 61% |
| Lot Size | - | - | 50% |
| Price | $289.9K | $172.0K | 97% |
| Price per sq ft | $256 | $196 | 93% |
| Built year | 1997 | 1995 | 57% |
| HOA | $432 | $221 | 91% |
| Days on market | 91 | 570 | 5% |
Pricing History
Listed for Sale
Dec 6, 2025
$289,900
Initial Listing