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$950K On Shelter Island: A Three-Bedroom With Water Views

Where: 12 Bay Avenue, Shelter Island Heights
Price: $950,000
Sale Date: December 21, 2011
Bedrooms/Baths: 3/1.5
Acreage: 1.3
The Skinny: Located in the Heights of Shelter Island is this mid-century (it was built in 1952) cottage that commands some pretty striking elevated views of West Neck Harbor and Shelter Island Sound. Set on 1.3 acres with room for a pool, the brokerbabble touted this as "a rare opportunity to own such a large parcel in the Heights...." The residence itself offers a little less than 1900 sq. ft. of living space, a living room that capitalizes on the scenery, central AC and a full basement. It's also got a pretty solid location (well, as far as Shelter Island goes) as it's close to the ferry, tennis, the Beach Club, the Yacht Club and Heights restaurants and shops. It was only listed for about four months before its new owner?Elizabeth C. Bowyer?snapped at up at the $950,000 asking price. It's in dire need of a renovation (and someone with better taste in decor), but it seems like she got a pretty good deal. Thoughts?

· Listing: 12 Bay Avenue [Corcoran]