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Take a Look at the Cheapest House in the Hamptons

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Hey, the price is right

We decided to see what was out there for the least money, our criteria being east of the canal and a freestanding home (no mobile homes, condos, or co-ops). Well, this is the winner: 26 Herne Place in North Sea. For $360,000, there is a 948 square foot house with two bedrooms and one bath. There's a petite plot of land (0.09 of an acre) with a shed on it; the plus side is that the property is close to the bay.

Yes, of course it’s not amazing—it looks like Grandma last decorated when Nixon was president, and to mangle Oscar Wilde, either those suspended ceilings go or we do. But those midcentury houses tend to be quite well-built, so with some imagination and money spent on renovations, anyone can have a snug little place within walking distance to the water. And the price is right!