Housing

House Across the Street From Warren Buffett Offered at $1.25 Million

Douglas A. McIntyre

Published: May 13, 2017 8:35 am

Last Updated: January 12, 2020 12:03 pm

According to Realtor.com, the house across the street from billionaire Warren Buffett’s Omaha home is for sale. It has been on the market for some time, and the price has dropped sharply.

According to the Realtor.com report:

Nearly a century old, this home located across the street from famed investor Warren Buffett’s Omaha residence was offered in 2015 for 10 Class A shares of Berkshire Hathaway—or approximately $2.15 million. With no real estate investor willing to pay a premium for proximity to the Oracle of Omaha, the home’s list price was reduced by nearly 50%.

The house at 225 S. 55th Street in Omaha is very large. Its 6,963 square feet include five bedrooms, six baths, brick outer walls, a large front porch and decor that looks like it comes from the 1920s. The house was built in 1919. It is very expensive for Central Omaha, the name of the neighborhood where it sits. Homes in the neighborhood have a median sales price of $180,000. The median value of homes listed for sale is $319,000.

The listing:

A True Omaha Landmark! Built in 1919 for the W.Dale Clark family, old-world charm & privacy are yours on this legendary home. Preserved & updated impeccably w/ample space. Quarter sawed oak floors, mahogany woodwork, high ceilings, hand cut beveled glass, kitchen addition overlooks the landscaped grounds featuring fountains, pond, vintage statuaries & unique vegetation perfectly compliments the craftsmanship & quality of this historic home. Rare opportunity to live next door to Warren Buffett!

Omaha has a total population of 443,885, according to Census estimates. They city has grown quickly. Its population in 1950 was 251,117. Just over 73% of the population is white. Just over 13% are black Americans. The city’s median household income in 2000 was $40,006, which put it below the national average. The poverty rate of 11.3% also is below the national average.

If the advice that owning the most expensive house in a neighborhood usually means a poor return when it is sold, then 225 S. 55th Street in Omaha is a poor investment.