Most Expensive Home in Omaha

The home at 412 N Elmwood was purchased by Joe Ricketts for $6.5 million.

Joe Ricketts is an American entrepreneur, philanthropist, and conservative political activist. He is best known as the founder of TD Ameritrade, one of the largest online brokerage firms. In addition to his success in finance, Ricketts is also the patriarch of the family that owns the Chicago Cubs.

The home is located in the Fairacres neighborhood in midtown Omaha. It's not too far from another Omaha billionaire, Warren Buffett, who lives in the Dundee neighborhood. 

The Douglas County Assessor values the home at $5,136,900 as of 2023.

As of March 2023, Redfin valued the home at $11,584,973 and Zillow put a Zestimate on the home of $1,874,800.

Another reason you shouldn’t always trust Zestimates.

Mortgage on a $6.5 Million Home

What does a jumbo loan look like for a home this size?

Well let’s do some math.

Let’s assume you are going to put 20% down.

If you purchased this home today, you would have to bring almost $1.5 million to closing as a downpayment and to cover closing costs.

Property taxes alone on this home are about $100,000 per year.

Let’s say homeowners insurance will run you about $44,000 per year.

With a 6% APR you are looking at a monthly payment of about $43,000.

Let’s break down the monthly payment …
Principal and Interest - $31,176.63
Homeowners Insurance - $3,683.33
Property Taxes - $8,333.33

Total Monthly Payment - $43,193.29