The son of Dallas Cowboys owner Jerry Jones has placed his house on the market for $11.5 million. Team CEO Stephen Jones has lived like a king.
One has to wonder why Jones would dump such a palace. Maybe he and his family have outgrown the six-bedroom house. It has only 10,543 square feet.
The house sits in Highland Park, which has a number of multi-million dollar homes. The neighborhood is just north of Dallas, about 25 miles from AT&T Stadium where the Cowboys play. At least Jones does not have a brutal commute.
The home at 3900 Miramar Ave., Highland Park, sits on only 0.57 acres, so the land is unlikely to be the major component of the value. The house has six bedrooms, six full baths and two half-baths.
Picture perfect on a corner lot in the heart of HP! Built in 1996 & extensively updated, this home is truly exceptional with its quality of materials, fabulous layout & perfect mix of classic + contemporary details. The 1st fl has a rich library & pub room, guest rm, beautiful formals & flawless kitchen open to a breakfast rm & den. The 2nd fl holds a spacious 5 beds & playrm. The stunning backyard comes with a lovely pool, spa, pergola & loggia!
Realtor.com shows that the house has only been on the market for 20 days. Data from the real estate site show that the median home price in the town is $589,000. The median price of Texas homes is $235,000. Taxes on this home are $141,050, based on an assessment of $7,071,400.
Realtor.com also has made a simple calculation of what the monthly cost of the house is, based on a 20% down payment of $2.3 million and a mortgage rate of 3.57%. It is $65,152.
For a home left behind by one of the most visible figures in sports in the Dallas area, that seems like a lot of money. Particularly since Jones tired of it and wants to move somewhere else. Better to buy a home in his new neighborhood. As a resident, he might lift the value.