Las Vegas Shooter Mesquite Home Sold for $425K, Price Near Market Value

Posted on: January 8, 2019, 08:25h. 

Last updated on: January 8, 2019, 08:25h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Las Vegas shooter Stephen Paddock’s Mesquite home has been sold for $425,000. The price is around real estate estimates for the 2,018-square-foot two-bedroom, two-bath property.

Las Vegas shooter Mesquite home
One of two Nevada homes owned by Las Vegas shooter Stephen Paddock has been sold. (Image: US Government/Zillow/Casino.org)

The home is in the 55-and-over Sun City Mesquite by Del Webb community roughly 80 miles northeast of Las Vegas. Clark County District Court Judge Gloria Sturman signed off on the sale last week.

The $425,000 will be directed to victims of the October 1, 2017, massacre that killed 58 people and injured hundreds of others. Clark County property records show that the buyers are Daniel and Bernadette Jones.

Casino.org first reported of the pending sale of the Mesquite home last week. Paddock’s nearly $1.4 million estate also includes a home in Reno, which remains on the market listed at $374,900.

Houses of Horrors

Paddock’s Mesquite home was originally listed for $449,000 in July. But after sitting for more than three months, the price was cut to $425,000 in November.

Online real estate site Zillow has its “Zestimate” for the house at $437,806. It’s worth noting that realtors typically despise online site assessments. However, Clark County has Paddock’s home at 1372 Babbling Brook Court assessed at $405,111 for the 2019-20 fiscal year.

Realtor Randall Bell isn’t the realtor to the stars, but the realtor to properties that served as sites of vicious crimes. He’s an expert in so-called “damaged real estate,” and has sold such homes as Nicole Brown Simpson’s Los Angeles condominium, JonBenet Ramsey’s Colorado house, and the LA mansion where Sharon Tate was stabbed to death by members of the Charles Manson “family.”

As for property values of damaged homes, Bell told VICE, “I’ve seen things where you actually have an expected increase in value. Take an extreme case like the Lizzie Borden house (the site of where a teen was accused of murdering her parents with an axe in the late 1800s). They actually rent that property out as a bed and breakfast.”

RJ journalist Eli Segall wrote this week that “after the attack, a few observers speculated that someone might acquire it as a novelty or out of a morbid fascination.” There’s been no comment from the Jones’ as to their motive.

State of Estate

Along with the two houses, Paddock’s $1.4 million estate includes bank accounts, Mandalay Bay casino vouchers, vehicles, weapons, and ammunition.

All of Paddock’s assets must be sold or liquidated before funds will be distributed to victims. The Mesquite house is reportedly the first item to sell.

Alice Denton, the attorney overseeing the estate, told the RJ that there’s no timetable as to when the possessions will be fully dissolved.

The US Department of Justice designated $17 million for shooting survivors in December. The Las Vegas Victims’ Fund collected $31.4 million in donations.

The committee overseeing disbursements has approved 532 claimants. Families of those who died in the attack or suffered permanent brain damage will receive $275,000 each.