It's not every day that we come across an Under $500K listing with a Southampton zip code that's not only south of the highway, but offers water views. Granted, this particular two-bedroom cottage isn't in the village of Southampton?it's found a little west in Shinnecock Hills?but in this price range you've got to make some concessions.
The brokerbabble calls this "the perfect beach getaway or the building block for a new residence". While "perfect" is most definitely a stretch, we do agree that it could be a great starting point for a nice little place. Our biggest concern, though, is the lot that currently sits unoccupied across the street. If someone decides to build there, those "water views" won't exactly be something to brag about. At least "south of the highway" would still apply.
Listing: 27 Landing Lane, Southampton [Brown Harris Stevens]