Whenever we come across a south-of-the-highway listing under $1M, we tend to be a little wary. Unless it's close to Montauk, there's usually something that raises the red flags.
Sadly, that's the case with this cottage in Bridgehampton. The stats are there: set on .4 acres, the 1500 sq. ft. residence has a fireplace, screened-in porch, two-car garage, an outdoor shower, a koi pond and even room for a pool. However, forgetting that toile covered bedroom for a moment, the home suffers from a case of terrible locationitis. It's situated on a corner lot at the intersection of School Street, Church Lane and Hildreth Lane. This is most likely the reason the home has been on the market since 2006 and has seen its price chopped a full $400K.
· Listing: 7 School Street [Corcoran]