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Southampton's Toile House Makes Its Triumphant Return


Ah, Toile House. We just can't quit you. (Much as we'd like to.) The place first hit the market back in January 2012, asking $725K. The house, which combines a crappy location with truly frightening decoration, failed to find a buyer. Then came December 2013, when the property was relisted at an inexplicable $826,270. Undaunted by a lack of offers, Toile House is back again, now asking $750K.

The latest listing shows only one toile-free interior view, but we all know the toile is there lurking in the background. Now the house is being marketed as the "PERFECT INVESTMENT PROPERTY!!," boasting that "This Home is Currently Rented Year Round Through 2016 for $3,500/mo." Some quick back of the envelope calculations: $750,000 price. Say $150K down. At a mortgage rate of 4.135 %, the lucky new owner's monthly payment would be $3,728. Hmmm. On the other hand: wallpaper stripper is priceless.
· Perfect Investment Property!! [Kerrigan]