7956 Terrace Rock Way Unit 101, Las Vegas, NV 89128, Las Vegas, 89128 - 2 bed, 2 bath
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7956 Terrace Rock Way Unit 101
Las Vegas, NV 89128
ACTIVE
CONDITION: POOR
2Beds
2Baths
912Sq Ft
2,364Lot Size
Property Price
LIST PRICE$189,700
EST. MARKET VALUE
$174,617
8% AboveMARKET VALUE
SUMMARY
This 2-bedroom condo represents a High-Potential Investment Opportunity, listed at a List Price of $189,900—positioned above the $177,905 Fair Market Value by -6%. With a Condition Rating of 5, the property requires significant updates, offering a clear path for value-add renovations. Its prime location near Summerlin and Red Rock Canyon, combined with community pool and spa access, ensures strong rental demand. This asset is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a project to build long-term equity.
Estimated Market Value
$174,617
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 |
|---|---|---|---|---|---|---|
★ 7956 Terrace Rock Way Unit 101 Subject 2 bd · 2 ba · 912 sqft · $191 | $189,700* List Price | 2 | 2 | 912 | $191 | - |
A 1017 Falconhead Lane 102 Sold 2 bd · 2 ba · 912 sqft · $181 · 0.3 mi | $165,000 | 2 | 2 | 912 | $181 | 0.3 mi |
B 1505 Cedar Rock Lane 201 Sold 2 bd · 2 ba · 912 sqft · $203 · 0.1 mi | $185,000 | 2 | 2 | 912 | $203 | 0.1 mi |
C 1340 Pinto Rock Lane 201 Sold 2 bd · 2 ba · 1,136 sqft · $176 · 0.1 mi | $199,950 | 2 | 2 | 1,136 | $176 | 0.1 mi |
D 7940 Decker Canyon Drive 201 Sold 2 bd · 2 ba · 1,136 sqft · $195 · 0.1 mi | $222,000 | 2 | 2 | 1,136 | $195 | 0.1 mi |
E 2100 Jetty Rock Drive 102 Sold 3 bd · 2 ba · 1,038 sqft · $211 · 0.8 mi | $219,000 | 3 | 2 | 1,038 | $211 | 0.8 mi |
F 1830 North Buffalo Drive 2096 Sold 2 bd · 1 ba · 969 sqft · $192 · 0.7 mi | $186,000 | 2 | 1 | 969 | $192 | 0.7 mi |
G 1325 Keifer Lane 201 Sold 2 bd · 2 ba · 1,192 sqft · $173 · 0.3 mi | $206,000 | 2 | 2 | 1,192 | $173 | 0.3 mi |
H 925 Sulphur Springs Lane 101 Active 2 bd · 2 ba · 912 sqft · $186 · 0.4 mi | $169,998 List Price | 2 | 2 | 912 | $186 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1992 (34 years old) with no mentioned renovations to the kitchen, baths, or major systems, the property exceeds the 30-year threshold. Based on the criteria, original condition at this age is classified as poor, requiring significant updates or rehab.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location
Situated minutes from Summerlin and Red Rock Canyon, the property offers exceptional access to premier outdoor recreation, shopping, and dining hubs.
- Desirable Amenities
The unit features a functional open-concept layout with a fireplace and private balcony, plus resident access to a community pool and spa.
- Market Accessibility
Priced under $200,000, this condo represents a highly competitive entry point for the Las Vegas market, appealing to both first-time buyers and investors.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =2364, other record lot size in square feet = 2728.
- School Performance
Several of the nearby assigned middle and high schools carry lower academic ratings, which may be a concern for families prioritizing education.
- Limited Square Footage
With only 912 square feet for a two-bedroom configuration, the living space and storage options may feel constrained for some residents.
About 7956 Terrace Rock Way Unit 101
Live near it all! This 2-bedroom, 2-bath condo is perfectly situated just minutes from Summerlin and the stunning Red Rock Canyon. Surrounded by parks, walking trails, shopping, and dining, this location offers both convenience and outdoor adventure. Inside, you'll find an open-concept layout with a warm, inviting fireplace and a private balcony—ideal for morning coffee or evening relaxation. Residents also enjoy access to a community pool and spa.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1992
- Lot Size
- 2,364 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $215 / Month
Neighborhood Insights
Las Vegas Unified Schools
Richard H Bryan Elementary School
Grades PK-5 • 0.4 mi
6/10
Edythe & Lloyd Katz Elementary School
Grades PK-5 • 1.2 mi
4/10
James B Mcmillan Elementary School
Grades PK-5 • 1.2 mi
2/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 912 | 1,048.989 |
| Lot Size | 2,364 | 5,669.706 |
| Price | $189.7K | $221.6K |
| Price per sq ft | $208 | $210 |
| Built year | 1992 | 1996 |
| HOA | $215 | $254 |
| Days on market | 45 | 70 |
Pricing History
Listed for Sale
Oct 9, 2026
$189,700
$189,800
+0% Price Increase
Initial Listing
Price Change
Oct 2, 2026
$189,800
$189,900
+0% Price Increase
Initial Listing
Price Change
Sep 9, 2026
$189,900
Initial Listing
Sold
Jul 30, 1998
$72,000
Public Record