5250 S Rainbow Boulevard 2151, Las Vegas, NV 89118, Las Vegas, 89118 - 1 bed, 1 bath
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Las Vegas, NV 89118
This Condominium Asset represents a High-Potential Investment Opportunity, listed at $200,000—positioned well above the $178,223 Fair Market Value by 12%. While the property requires a strategic approach due to the premium, it offers a Fair Condition Rating with modern Granite Kitchen finishes and a rare Private Garage. Located in an FHA-approved community with resort-style amenities, it provides strong rental appeal near the 215 freeway. This property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a functional, amenity-rich lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 S Rainbow Boulevard 2151 Subject | $200,000* List Price | 1 | 1 | 744 | $240 | - |
A 5250 S Rainbow Boulevard 2101 Sold | $200,000 | 1 | 1 | 744 | $269 | 0.0 mi |
B 5072 S Rainbow Boulevard 104 Sold | $184,500 | 1 | 1 | 841 | $219 | 0.1 mi |
C 5250 S Rainbow Boulevard 2138 Active | $191,900 List Price | 1 | 1 | 744 | $258 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1997, the property is 29 years old, placing it in the >20y 'Fair' category. While the kitchen features granite counters suggesting a past update, the overall age of the structure and systems, combined with dated interior finishes seen in photos, indicates it is approaching the need for minor repairs and modernization.
The community is FHA approved and offers premium amenities including a pool, fitness studio, pet park, and putting green, making it an attractive option for first-time buyers.
The unit features an open floor plan with granite countertops, a gas fireplace, and a walk-in closet, plus the rare addition of a private garage with extra storage space.
Located just minutes from the 215 freeway, the property provides excellent accessibility to the rest of the Las Vegas valley while maintaining a relaxed desert resort atmosphere.
The monthly HOA fee of $432 is relatively high for a one-bedroom unit at this price point, which may impact monthly affordability and investor cap rates.
The assigned public schools for this address have moderate ratings ranging from 4 to 5, which may be a consideration for buyers prioritizing educational district performance.
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 • 0.2 mi
Grades 6-8 • 0.4 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