The Reno home of the man who carried out the deadliest mass shooting in modern U.S. history is up for sale. All of the net proceeds from the sale of the former home of Stephen Paddock, who last year in Las Vegas shot and killed 58 concertgoers and injured hundreds more before taking his own life, will go to the families of his victims.
Buyers who don’t mind that it once belonged to a mass murderer can enjoy the “bright and cheery” two-bed, two-bath house with a two-car garage, high ceilings, and a kitchen with a breakfast bar, according to the listing. Built in 2013, the 1,410-square-foot abode is located in a 55-and-up community that includes a pool, gym, clubhouse, and tennis courts. It’s advertised at $399,000 as an estate sale, which is subject to court approval.
But it probably won’t be an easy sale.
On Oct. 1, Paddock opened fire on the Route 91 Harvest Festival, a three-day country music festival, from his room on the 32nd floor of the Mandalay Bay Resort and Casino in Las Vegas. The 64-year-old was found dead in the room from a self-inflicted gunshot wound.
Paddock was “so notorious and so despicable that the real estate will be impacted,” says real estate appraiser Randall Bell of the Landmark Research Group in Laguna Beach, CA. “Anytime you get this association with trauma and death and negative events, the real estate can be negatively impacted.”
Even though no one was killed at the house, it’s still likely to get discounted by 10% to 25%, Bell says. And the home will probably take a while to sell—if it sells at all.
Bell should know. He appraised the homes of O.J. Simpson, Sandy Hook Elementary School shooter Adam Lanza, and the condo where Nicole Brown Simpson was murdered along with Ron Goldman.
If it does get bought, the future owners will likely have to contend with some morbidly curious looky-loos, says Bell. That’s not exactly what most folks want in their retirement. And its association with Paddock could make friends and family uncomfortable visiting.
“It can be very, very negative in terms of your quality of life,” says Bell.
Source: Housing Trends Feed