Sean 'Diddy' Combs' Home Value Hits New High: $72,176,712

Rapper and business mogul Sean "Diddy" Combs' home value has hit a new high at $72,176,712, according to Realtor.com. The property is currently on the market for $61,500,000.

Why It Matters

Combs' 10-bedroom mansion is in Holmby Hills, a high-end Los Angeles neighborhood harboring iconic celebrity homes like the Playboy Mansion.

The residence is one of two homes owned by Combs that the Department of Homeland Security raided in March. Combs listed the Los Angeles home for sale after his September arrest on counts related to racketeering conspiracy, sex trafficking by force, fraud or coercion and transportation to engage in prostitution.

Sean "Diddy" Combs, whose Los Angeles home is for sale for $61.5 million. Getty Images/Dia Dipasupil

What To Know

Realtor.com utilizes Quantarium data to provide home valuations. According to Quantarium, its AI-powered valuation model has "an approximate match rate of 97% in independent 3rd party tests."

Redfin estimates that Comb's Los Angeles home will sell for $51,382,235—just over $10 million less than the current asking price and more than $20 million lower than Realtor.com's valuation. Redfin's home estimate takes into account what's known about the home as well as the local market. Redfin notes a median error rate of 1.96 percent.

California homes have a history of overvaluation. And given the alleged activities that took place in Combs' Los Angeles and Miami homes, potential buyers may be weary.

Belwood Investments CEO Bo Belmont submitted an offer of $30 million for the estate in November—about $30 million under the asking price.

What People Are Saying

Alex Beene, financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "We've seen properties [in] some major communities of traditionally wealthier clientele...see sizable price decreases over the last year. In our current economic climate, buyers just aren't enticed to either throw that much cash at one property or take on the highest interest rates in a decade. Make no mistake, the alleged issues on its owner won't help, but the problems of a sale go deeper."

Kevin Thompson, founder and CEO of 9i Capital Group, told Newsweek: "The home will likely sell below the current asking price due to the relationship with the previous owner and the current downturn in the luxury housing market. For the property to sell, the price would need to reach a level where it aligns with economic considerations, potentially influenced by what transpired within the residence."

Belwood Investments CEO Bo Belmont, in a press release: "I want to remove the stigma and focus on the charming elegance of this remarkable property."

What Happens Next

Time will tell if Combs' storied mansion will continue to climb in value or drop in the new year: "...It's unlikely, barring a real reversal in the visiting market, [the home] will sell at the current asking price," Beene said.