• FS1
    9:00 PM PST

    9:30 PM PST

Michael Phelps DUMPS Baltimore Condo At $400,000 Loss

8/2/2012 12:50 AM PDT

Michael Phelps DUMPS Baltimore Condo at $400,000 Loss


Michael Phelps didn't just take a beating in the 200m butterfly recently ... he also got his ASS kicked by the real estate market -- letting go of his swank Baltimore condo for $400,000 less than what he bought it for.

Phelps purchased the 4,080 sq. ft. home in Fells Point back in 2007 for $1.69 million -- but then the housing market crashed ... and so did the value of his home.

The 19-medal-winning swimmer listed the 3-bedroom pad earlier this year for $1.42 million -- but even that was asking too much ... because when he finally sold the place last week ... he could only get $1.25 mill.

For the mathematically challenged, that's a loss in value of $440,000 -- but it's just a drop in the bucket ... the guy's agent once predicted Phelps would earn roughly $100 million during his lifetime from endorsements.

Oh yeah, He's also THE GREATEST OLYMPIAN OF ALL TIME! Watch TMZ Sports on FS1 Get the new TMZ Sports app!


Click To View
Hot Video

More From

Around the Web