5250 South Rainbow Boulevard 2081, Las Vegas, NV 89118, Las Vegas, 89118 - 1 bed, 1 bath
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Las Vegas, NV 89118
This Condominium represents a High-Potential Investment Opportunity, listed at $200,000—positioned above the $179,930 Fair Market Value. While the price reflects a premium, the property offers a Fair Condition Rating and features a Granite Kitchen, Private Garage, and Resort-Style Amenities including a pool and fitness studio. Located in an FHA-approved community near the 215 freeway and top-rated schools like Marion B Earl Elementary, this asset provides stable rental demand. It is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a convenient, amenity-rich lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 South Rainbow Boulevard 2081 Subject | $200,000* List Price | 1 | 1 | 744 | $242 | - |
A 5250 S Rainbow Boulevard 2101 Sold | $200,000 | 1 | 1 | 744 | $269 | 0.1 mi |
B 5072 S Rainbow Boulevard 104 Sold | $184,500 | 1 | 1 | 841 | $219 | 0.3 mi |
C 5250 S Rainbow Boulevard 1075 Active | $229,900 List Price | 1 | 1 | 744 | $309 | 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 as it exceeds the 20-year age threshold. While the description mentions granite counters, the overall age suggests that major systems like HVAC and electric, as well as the bathroom, are likely original or dated and nearing the end of their typical functional lifespan.
The property is located in an FHA-approved community, which significantly broadens the buyer pool by allowing for low down-payment financing options.
Spanish Palms offers an impressive array of lifestyle amenities including a pool, fitness studio, pet park, and putting green, providing high value for residents.
The inclusion of a private garage with dedicated storage space is a premium feature for a one-bedroom condo, offering enhanced security and convenience.
The monthly association fee of $432 is relatively high for a 744-square-foot unit, which may deter investors or buyers focused on minimizing monthly carrying costs.
At 744 square feet, the living space is quite compact, which may limit appeal for buyers who require more room for a home office or additional furniture.
Spanish Palms is a FHA approved community. Relaxed style of desert resort living with conveniences of city life within close reach. Beautiful 1 bed, 1 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 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 28% |
| Baths | 1.0 | 2.0 | 31% |
| Square foot | 744 | 1,070 | 14% |
| Lot Size | - | 957 | 47% |
| Price | $200.0K | $200.0K | 50% |
| Price per sq ft | $269 | $217 | 89% |
| Built year | 1997 | 1994 | 58% |
| HOA | $432 | $222 | 92% |
| Days on market | 12 | 332 | 3% |
May 25, 2026
$200,000
Initial Listing