Aug
22

So, What is the White House Worth?

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White-House-For-Sale1600 Pennsylvania Avenue is not the average starter home.

President Barack Obama and his family will be moving out of the White House in a few months. But as far as we know, they aren’t looking to sell. Of course, it’s not in any president’s power to actually sell the White House, and it’s unimaginable that the historic home will ever be sold.

But what if it did? How much would 1600 Pennsylvania Avenue fetch on the market?

Barrons wanted to find out, and Ann Gray, of the Los Angeles–based Gray Real Estate Advisors, estimates that $90 million would be a fair price for the president’s residence. The ballpark figure came after the realtor incorporated factors such as the cost of construction ($232,000 in the 1790s, or about $100 million today), potential rental operating income from the home’s 16 bedrooms ($5 million a year), and the market price for comparable properties (Donald Trump’s 17-acre Mar-a-Lago Club in Palm Beach is valued at $100 million).

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