Warren Buffett’s former Omaha home hits the market

Home where businessman founded Buffett Associates asks $800K

National /
Apr.April 16, 2022 01:00 PM

Warren Buffett with 5202 Underwood Avenue in Omaha (Getty, Google Maps, iStock)

Buyers inspired by one of the richest people in the world can see if the magic of Warren Buffett’s former home can rub off on them.

Buffett’s former three-bedroom home in the Dundee neighborhood of Omaha, Nebraska, is on the market for $799,000, the Wall Street Journal reported. Buffett hasn’t lived in the home at 5202 Underwood Avenue for a long time, but the sellers, James and Nancy Monen, are shareholders in Berkshire Hathaway.

The home’s best feature might be its rich history. Buffett and his then wife, Susan, rented the 3,300-square-foot home for $175 a month. The sunroom is the founding site of Buffett Associates, which garnered only slightly more than $100,000 from investors.

Many of the assets of Buffett Associates merged into Berkshire Hathaway, according to the Journal.

The Buffetts lived in the Underwood Avenue home for two years, before paying $31,500 for a different home in Omaha, where Buffett still lives.

Those who don’t know the property’s history offhand will quickly discover it upon entering the house. Buffett came back to visit the home with two of his children in 2019, according to the Journal, when he scribbled his signature and company name on the sunroom door.

The Monens purchased the property in 2005 for $397,000. They told the Journal they had no knowledge of Buffett’s connection to the home at the time, though James’ late uncle was an early investor with Buffett.

The home hit the market at a busy time for the area, as the Berkshire Hathaway annual shareholder meeting is slated to draw the eyes of the financial world into Omaha at the end of the month. However, not everyone suspects the historic property will be enough to woo an out-of-town shareholder into buying.

“We also kind of have a gut feeling that the buyer might live in Omaha,” Jessica Dembinski of Berkshire Hathaway HomeServices Ambassador Real Estate told the Journal.

[WSJ] — Holden Walter-Warner





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