The Oracle of Spring Valley: Warren Buffett’s Childhood Home in DC To Hit the Market

• March 15, 2016

by Nena Perry-Brown

4211 49th Street NW

The Spring Valley house that Warren Buffett called home when he was a teenager in DC will hit the market later this week, UrbanTurf has learned. And the stories about the Oracle of Omaha’s years in the city are pretty incredible.

Buffett called the five-bedroom listing at 4211 49th Street NW (map) home as a teenager when his father, Howard Buffett, was serving in the U.S. House of Representatives. He attended Woodrow Wilson High School and, while there, was already showing flashes of the enterprising mind that became the key to his success. He ran a business selling soft drinks, earned $175 a month as a paperboy and even sold his own horse-racing tip sheet. The year he filed his first tax return, Buffett claimed his bike and watch as tax deductions.

“He and a friend purchased a used pinball machine for $25,” the owners of the home wrote to UrbanTurf. “They installed it in a barbershop, and within a few months the profits enabled them to buy other machines. Buffett owned machines in three different locations before he sold the business for $1,200.”

Buffett’s bedroom

It wasn’t until the current owners, Leyla and Anthony Serafino, were under contract on the home that they found out that Buffett once lived there. When they closed on the house, the Serafinos learned that Buffett had declined the listing agent’s offer to sell him his old abode, as he already owns a home in the city for when he visits.

But that’s not the end of the story. As the Serafinos were finishing up renovations, the stars aligned and they were able to strike up a correspondence with the wealthy investment mogul.

“Toward the end of our renovation, a friend from our kids’ elementary school who works for Microsoft frantically got in touch because her colleague who supports Bill Gates on his philanthropic work was with Mr. Buffett at an event in DC and somehow the topic his time living here came up,” the owners said. “A few hours and many text messages later resulted in Mr. Buffett requesting that we write him a letter about ourselves, our family and the renovation we were doing.”

The letter was sent on a Tuesday. They got this response back just three days later:

A 2014 renovation and expansion means that the home has changed quite a bit since its famous occupant lived there. But that doesn’t mean the next owners won’t have some great stories to tell their guests. Unfortunately, we doubt that the letter above conveys.

The home will be listed by Daryl Judy and Kimberly Casey of Washington Fine Properties for $1.55 million later this week.

This article originally published at http://dc.urbanturf.com/articles/blog/from_110_square_feet_to_66_billion_net_worth/10985