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$937.5K In East Hampton: A Pair Of Houses On 1.1 Acres

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[Photo credit: Prudential Douglas Elliman]

Where: 97 Three Mile Harbor, East Hampton
Price: $937,500
Sale Date: January 5, 2012
Bedrooms/Baths: 4/3 (front house) and 3/3 (back house)
Acreage: 1.1
The Skinny: We really have no idea what to make of this. The transaction involved the purchase of two houses on 1.1 acres in East Hampton. The most recent asking price was $1.5M, but the buyer somehow got the seller down to $937.5K. From the scant few photos available, both homes do look to be in the turnkey condition mentioned in the brokerbabble. The one in front boasts four bedrooms, three bathrooms and a two-car garage. The one out back is rocking three bedrooms, three bathrooms and a sweet looking pool. The listing also makes mention that this might work well as a rental opportunity?live in one and rent the other or just rent both?as the residences are both "private from each other". We're throwing this one out to the readers at home...what do you make of this rather unique sale?

· Listing: 97 Three Mile Harbor [Prudential Douglas Elliman]