On a world-famous island known for its magnificent mansions, disgraced money manager Bernard Madoff's home lacks curb appeal.

The wood-frame exterior, circular gravel driveway and front-facing garage, all hidden by overgrown vegetation, might make the rich and famous wonder about coughing up anything close to the $8.49 million asking price.

``Very ordinary for Palm Beach standards,'' says longtime real-estate agent Douglas Rill, who toured the property at 410 N. Lake Way last week, though he is not involved in the sale.

But as soon as the mahogany front door opens, prospective buyers -- and there have been plenty -- realize the place has potential.

A long hallway with open-air atriums on either side leads to the living room, which overlooks the swimming pool and a deep-water dock on the Intracoastal Waterway.

Up the spiral staircase is a master suite, featuring 17-foot vaulted ceilings, his and her bathrooms, closets and dressing rooms and a balcony running the width of the five-bedroom, 7 ½-bath house.

``I think people are pleasantly surprised by the space and the condition,'' said Jim McCann, senior sales associate for Corcoran Group, the Palm Beach real-estate firm handling the listing for the U.S. Marshals Service.

``This is not going to be for a buyer who wants to make a statement,'' McCann added. ``It'll be for someone content to have a casual, tropical lifestyle who doesn't want to draw attention to themselves.''

Barry Golden, a spokesman for the Marshals, said the home has attracted lots of attention so far.

``Some offers have been made, but they have not been accepted,'' Golden said Wednesday.

The Marshals Service, which seized the home April 1, also is selling Madoff homes in Montauk, N.Y., and Manhattan. Madoff is serving a 150-year prison sentence after pleading guilty this year to defrauding clients of billions of dollars through the largest Ponzi scheme in history.

Industry observers figured the eventual buyer would tear down the home and rebuild, but McCann is confident Corcoran can find a buyer willing to live there.

To maximize the sale price and return more money to Madoff's victims, Corcoran says it will not accept its half of what could be a $500,000 commission.

Madoff's wife, Ruth, bought the Palm Beach home in 1994 for $3.8 million. It was appraised this year by Palm Beach County at $7.6 million.

The home was built in 1973 and renovated in the early 1990s by developer Michael Burrows. It's furnished, but items have been tagged and will be sold separately at an auction.

Rill speculates there will be plenty of people with a ``ghoulish perspective'' who want to tour the home because it belonged to Madoff. But McCann insists he is working with serious buyers.

``We show it almost on a daily basis,'' McCann said. ``We're in October now. I'd be surprised if it's still for sale by the end of the year.''

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