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

By Douglas A. McIntyre Updated Jan 12, 12:03PM EST · Published May 13, 8:35AM EDT

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

[cnxvideo id=”655412″ placement=”ros”]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.

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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.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.