701 Wheat Ridge Lane 101, Las Vegas, NV 89145, Las Vegas, 89145 - 3 bed, 2 bath
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701 Wheat Ridge Lane 101
Las Vegas, NV 89145
ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,266Sq Ft
6,495Lot Size
Property Price
LIST PRICE$252,500
EST. MARKET VALUE
$245,631
SUMMARY
This High-Potential Investment Opportunity is listed at $252,500, positioned slightly above the $245,632 Fair Market Value. While the property requires modernization due to its Condition Rating of 4, it offers a rare 3-bedroom layout in a prime location near Summerlin. Featuring a private back patio, gas fireplace, and FHA-approved status, this unit provides a stable foundation for value-add renovations. Its proximity to highly-rated schools like Helen M. Smith Elementary makes it a strategic acquisition for Buy-and-Hold Investors or first-time buyers seeking entry into a sought-after neighborhood.
Estimated Market Value
$245,631
Based on Realkey algorithm analyzing recent comparable sales in Las Vegas.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 701 Wheat Ridge Lane 101 Subject | $252,500* List Price | 3 | 2 | 1,266 | $194 | - |
A 7904 Ryandale Circle 204 Sold | $255,000 | 3 | 2 | 1,266 | $201 | 0.0 mi |
B 7901 Idledale Court 101 Sold | $210,000 | 2 | 2 | 1,168 | $180 | 0.0 mi |
C 525 INDIAN PRINCESS Drive 204 Sold | $220,000 | 2 | 2 | 1,108 | $199 | 0.6 mi |
D 8425 Running Deer Avenue 102 Sold | $180,000 | 2 | 2 | 821 | $219 | 0.6 mi |
E 508 Indian Princess Drive 102 Sold | $210,000 | 2 | 2 | 1,108 | $190 | 0.6 mi |
F 701 Wheat Ridge Lane 104 Sold | $260,000 | 2 | 2 | 1,266 | $205 | - |
G 8400 White Eagle Avenue 102 Sold | $185,000 | 1 | 1 | 821 | $225 | 0.6 mi |
H 717 Wheat Ridge Lane 103 Active | $245,000 List Price | 3 | 2 | 1,266 | $194 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1996, the property is 28 years old and retains dated features such as tile countertops and 12x12 tile flooring. While the 2023 water heater is a positive system update and the unit is well-maintained, the overall aesthetic and original finishes require modernization to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location
Situated just minutes from Summerlin and within walking distance to Tivoli Village and Boca Park, this property offers exceptional access to high-end shopping, dining, and recreation.
- Rare 3-Bedroom Value
Finding a three-bedroom, two-bath configuration at this price point is uncommon in the current market, providing significant value and extra space for families or home offices.
- FHA Approved & Accessible
The community's FHA approval facilitates low down payment financing, while the ground-floor, single-level layout ensures easy accessibility for all residents.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6495, other record lot size in square feet = 1879. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
- Dated Interior Finishes
With 12x12 tile flooring and tile countertops from the original 1996 construction, the unit may require cosmetic updates to meet modern aesthetic preferences.
- Local High School Rating
While the elementary and middle schools are highly rated, the assigned high school currently holds a lower rating, which may be a consideration for families with older children.
About 701 Wheat Ridge Lane 101
This well-maintained ground-floor, single-level 3-bedroom / 2 bath condo offers an incredible location, just minutes from Summerlin and steps from Tivoli Village, Boca Park, and the Badlands Golf Course. Three-bedroom condos at this price point are uncommon, making this an exceptional opportunity for buyers looking for more space. This community is FHA approved, opening the door for buyers who prefer low down payment financing options. Throughout the unit you will find 12x12 tile flooring in the main living areas and primary bedroom, vertical blinds, and a washer and dryer that stay. The family room features a cozy fireplace, and the kitchen is equipped with tile counters, a gas stove, and a breakfast bar with seating. The primary bedroom is generously sized with a walk-in closet and a private bath featuring dual sinks and a separate tub and shower. The 2 secondary bedrooms offer a walk-in closet and a slider closet respectively, and share a full hall bath with tub and shower. Additional highlights include a laundry closet, a water softener, a 2023 water heater, and a private back patio. The refrigerator stays. A solid value in one of the most convenient and sought after locations on the west side of the valley!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1996
- Lot Size
- 6,495 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $230 / Month
Neighborhood Insights
Las Vegas Unified Schools
Walter Jacobson Elementary School
Grades PK-5 • 0.5 mi
5/10
Helen M Smith Elementary School
Grades PK-5 • 0.8 mi
7/10
Walter Johnson Junior High School
Grades 6-8 • 0.4 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,266 | 1,059.468 |
| Lot Size | 6,495 | 6,055.359 |
| Price | $252.5K | $225.8K |
| Price per sq ft | $199 | $213 |
| Built year | 1996 | 1996 |
| HOA | $230 | $254 |
| Days on market | 19 | 71 |
Pricing History
Listed for Sale
Aug 21, 2026
$252,500
Initial Listing