5250 S Rainbow Boulevard 2071, Las Vegas, NV 89118, Las Vegas, 89118 - 2 bed, 2 bath
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Las Vegas, NV 89118
This Condominium is a High-Potential Investment Opportunity, listed at $260,000—positioned above the $233,525 Fair Market Value. While the property carries a Fair Condition Rating, it offers a functional layout with a Granite Kitchen and Private Balcony. Located in an FHA Approved Community with resort-style amenities, it provides strong rental appeal near the 215 freeway and top-rated local schools. This asset is ideal for Buy-and-Hold Investors seeking a stable rental or first-time buyers looking for an accessible entry into the Las Vegas market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 S Rainbow Boulevard 2071 Subject | $260,000* List Price | 2 | 2 | 1,034 | $226 | - |
A 5012 S Rainbow Boulevard 101 Sold | $205,000 List Price | 2 | 2 | 1,091 | 0.3 mi | |
B 5250 S Rainbow Boulevard 1004 Sold | $250,000 | 3 | 2 | 1,131 | $221 | 0.1 mi |
C 5022 S Rainbow Boulevard 204 Sold | $220,000 | 2 | 2 | 1,091 | $202 | 0.3 mi |
D 5250 S Rainbow Boulevard 2126 Sold | $298,000 List Price | 3 | 2 | 1,131 | 0.2 mi | |
E 5250 S Rainbow Boulevard 1040 Active | $235,000 List Price | 2 | 2 | 1,034 | $227 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1997, this 29-year-old property falls into the Fair category (>20y). While the description mentions granite counters suggesting a partial kitchen update, the overall age indicates that original systems (HVAC/Electric) and bathrooms are likely dated and may require minor repairs or modernization.
The community offers an extensive suite of amenities including a pool, fitness studio, pet park, and putting green, providing a high-quality lifestyle that appeals to both owners and tenants.
As an FHA-approved community, this property is accessible to a wider range of buyers, particularly first-time homeowners who may require low down payment financing options.
The property is ideally situated minutes from the 215 freeway and within walking distance to elementary, middle, and high schools, offering exceptional convenience for commuters and families.
The monthly HOA fee of $432 is relatively high for a property at this price point, which may impact a buyer's debt-to-income ratio and overall monthly affordability.
Built in 1997, the property and its core systems are approaching 30 years of age, which may necessitate upcoming maintenance or modernizations to keep pace with newer developments.
Spanish Palms is a FHA approved community. Relaxed style of desert resort living with conveniences of city life within close reach. Beautiful 2 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 • 0.4 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 | 1,036 | 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 | 20 | 362 | 3% |
May 25, 2026
$260,000
Initial Listing