Home near Trump’s Mar-a-Lago lists at 32 times original price as area becomes most 'coveted' real estate
PALM BEACH, FLORIDA: A home near Donald Trump’s Mar-a-Lago estate has reportedly been put up for sale for 32 times more than its actual price at which it was first bought.
The 1952-built property was listed for $12.5 million on Tuesday, May 20. It was originally purchased in 1981 by a couple for $385,000—equivalent to $1,328,610 today, as reported by Newsweek.
The Algoma Road house, which is spread across three acres, consists of four bedrooms and four bathrooms.
Listed property located very close to Donald Trump’s Mar-a-Lago estate
The 2,493-square-foot property is owned by Joyce Vaughn and her late husband, Clother Hathaway Vaughn III, a management consulting executive.
The residence comes with a private pool and, as per Zillow, “With deeded beach access 245 feet away and sitting within the highly secure Presidential Security Zone.”
Since the property falls within the secured Presidential Security Zone, it is designated as the “east zone” under US Coast Guard regulations. Located third from the ocean, the home includes deeded beach access and is closed to through-traffic whenever President Trump is in residence at his Mar-a-Lago Club, reports Palm Beach Daily News.
Secret Service spends over $1.4 million in six months to secure Mar-a-Lago
In March, reports revealed the US Secret Service spent more than $1.4 million over six months to secure Mar-a-Lago.
The Federal Register reportedly said, “The Coast Guard will only enforce this rule when the President of the United States, members of the First Family, or other persons under the protection of the Secret Service are present or expected to be present.”
“This action is necessary to protect the official party, public, and surrounding waterways from terrorist acts, sabotage or other subversive acts, accidents, or other events of a similar nature,” they added.
When Trump is at Mar-a-Lago, security shuts down South Ocean Boulevard, allowing access only to property owners or their authorized visitors, representatives, or workers. The security zone extends north from the club property for seven blocks, about half a mile to South County Road.
Real estate expert highlights property’s place in a highly exclusive global location
Agent Margit Brandt of Premier Estate Properties holds the listing, who told the Palm Beach Daily News, “Looking at the market today, 112 Algoma is the only dry lot available for sale in Palm Beach’s Estate Section.”
“It is also the only piece of land publicly available (in the MLS’s land category) in the presidential security zone adjacent to Mar-a-Lago,” she mentioned.
“This presents a special opportunity for a buyer to build their dream home in one of the most coveted, exclusive locations in the world,” Brandt added.
Meanwhile, though Zillow has speculated that the residence will sell in between $5.2 million to $7.8 million, six residential properties in the Mar-a-Lago security zone has been bought at prices ranging from $12 million to $27.5 million since December 2024.
