An older Amagansett home is to be sold at a bankruptcy auction with a minimum suggested bid of $1.1 million. Let’s see what the property has to offer and then decide if it’s worth it.
The major negative, as we see it, is the location: 107 Montauk Highway, on the north side. However, that stretch is mostly residential, so it’s not an insuperable obstacle.
There’s 0.60 of an acre plot, which includes a gunite pool and pool house. The house itself is in unknown condition (these auctions are always done as-is). But it looks from the photos like at least some renovation has been done, with a newer kitchen and bath visible. We’re not sure how old the house is, but judging from the width of those floor beams, we’d guess early nineteenth century. Ish. There are three fireplaces, three bedrooms and 3.5 bath, with a finished family room and laundry room in the lower level.
Now, price. The property has previously been offered at $2.25 million, with no takers. According to the auction information, the property has been appraised at $1.833 million, which sounds pretty fair. Therefore, we think this could represent a good deal for someone wanting a starter summer home, or for an investor. Your thoughts?
For more, click here. 107 Montauk Highway, Amagansett