5250 South Rainbow Boulevard 1086, Las Vegas, NV 89118, Las Vegas, 89118 - 1 bed, 1 bath
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Las Vegas, NV 89118
This Turnkey Condominium is a High-Potential Investment Opportunity, listed at $195,000—positioned well below the $202,792 Fair Market Value by 3%. This valuation gap offers $7,792 in Instant Equity for the buyer. Featuring a Condition Rating of 2, the unit includes new luxury vinyl plank flooring and stainless steel appliances. Located in a guard-gated community with resort-style pools and proximity to top-rated schools, this property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking low-maintenance living.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 South Rainbow Boulevard 1086 Subject | $195,000* List Price | 1 | 1 | 744 | $273 | - |
A 5250 S Rainbow Boulevard 2101 Sold | $200,000 | 1 | 1 | 744 | $269 | 0.1 mi |
B 5250 S Rainbow Boulevard 2144 Active | $185,000 List Price | 1 | 1 | 744 | $249 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While built in 1997, the property has undergone a recent renovation (<5 years) featuring new luxury vinyl plank flooring, modern baseboards, fresh paint, and new stainless steel appliances. The kitchen has been updated with stone countertops, and the unit is in mint, move-in-ready condition with no immediate maintenance required.
The unit features fresh paint, new luxury vinyl plank flooring, and stainless steel appliances, offering a move-in-ready experience for buyers seeking a contemporary aesthetic.
Located in a guard-gated community, residents benefit from high-tier security and resort-style amenities, including two pools with waterfall features and a fitness center.
As a first-floor unit with an attached one-car garage, this property provides rare convenience, easy access, and additional storage space not typically found in standard condominiums.
The monthly HOA fee of $448 is relatively high for a one-bedroom unit, which may impact the overall affordability and monthly carrying costs for budget-conscious buyers.
With only 744 square feet and a single bedroom, the property offers limited living area, which may restrict its appeal to individuals or couples rather than larger households.
Welcome to this beautifully updated first floor condo in the popular Guard-Gated Spanish Palms community! This move-in-ready home has been freshly painted and features NEW Luxury Vinyl Plank flooring, modern baseboards and STAINLESS STEEL appliances. The attached 1-car garage provides added storage and easy access. Spanish Palms is known for its lush mature landscaping, abundant trees and exceptional amenities, including a clubhouse, fitness center, pet park and two community pools. The main pool offers a resort-style setting complete with a stunning waterfall feature, creating the perfect place to relax and unwind. Less than 5 miles away from the new Durango Casino and Resort and ideally located in the heart of Las Vegas near shopping, dining, entertainment and major freeway access, this condo is perfect for a primary residence, second home or investment opportunity. Enjoy low-maintenance living in one of the area's most desirable guard-gated communities!
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 | $195.0K | $199.9K | 44% |
| Price per sq ft | $262 | $217 | 83% |
| Built year | 1997 | 1994 | 58% |
| HOA | $448 | $222 | 97% |
| Days on market | 8 | 332 | 3% |
May 29, 2026
$195,000
Initial Listing