Behind The Hedges 18.12.2018 19:05 A Perfect Summer Rental Cottage for Investors

A Perfect Summer Rental Cottage for Investors

March 08, 2018 By Laura Euler

This pint-sized cottage is perfect either as an affordable (for the Hamptons, anyway) summer/weekend pied-à-terre or as an investment. Asking price for the 700-square foot, two-bedroom, one-bath cottage is $1 million, which strikes us as pretty reasonable, given that the property, which is also teensy at 0.10 of an acre, is bayfront. What makes it an ideal investment, we think, is that unlike much of Lazy Point, there's no East Hampton residency requirement with this property. This property should easily rent for $35,000 Memorial Day-Labor Day.

All photos courtesy Elliman

Everything in the house looks to have been newly redone, with a nice deck overlooking the water and even a little fireplace to put candles in. It's represented by Susan Ceslow and Kim Fagerland at Elliman. Napeague's calm waters make the area very popular for paddleboarding or windsurfing. If you're less adventurous, you can dig for clams right out your front door. What say you? Worth a look?

DCIM100MEDIADJI_0083.JPG

For more, click here. 148 Shore Drive East, Amagansett

MORE TOP STORIES



Leave a Reply

1 Comment on "A Perfect Summer Rental Cottage for Investors"

Notify of
avatar
Sort by:   newest | oldest | most voted
Frank Dalene
Guest

Sorry, for an investment property this house is priced too high in relation to rent roll. Not enough income to support purchase price considering interest rates, taxes, insurance costs and maintenance costs. It is a loser from day one. Who wants to invest in a loser?