Usually, when a home is located "in the village" of East Hampton it's worth quite a bit more than one found in the town. We say "usually" because there are always exceptions. This 1000 sq. ft. home is one of them. Not only is it set on the corner of one of East Hampton's most annoying intersections (Collins and Accabonac), but it's located less than 200 feet from a train trestle.
These might be forgivable if the price reflected the less-than-desirable facets of the .16 acre property. Unfortunately, the $549K ask doesn't. In fact, at one point, the seller was looking for a mind-boggling $685K. We can see why the listing has bounced around several different agencies during its time on the market.
This is rather unfortunate, because it could be a great little home if the address didn't suck so thoroughly. As it stands right now, it looks like it will need to join the Under 500K club to find a buyer. Truth be told, even that probably won't make a difference.
But hey, at least it comes with a pass for the village beaches.