How About a Compound on Shelter Island with Tennis for $4.575M?

2.6 acres of waterfront on Ram Island is the attraction of this property--along with 300' of water frontage and sandy shoreline. There are also two buildings, both of which need updating (if not tearing down): a 2700sf beach cottage with three bedrooms, including a master with living room, fireplace and wet bar, and a 2400sf "pavilion" with "teak accents, fieldstone fireplace," two bedrooms and a "breathtaking master suite with vaulted ceilings, wraparound balcony overlooking the water, and a dressing area with basin and observation tower." Between the two is a gunite pool with mahogany decking, a path down to the beach, and a tennis court. Given the dearth of sales in the area, we have to admit we have no idea if this price is reasonable--any Shelter Island experts want to weigh in?

• Tranquil Ram Island Bay Front Compound with Pool and Tennis [Saunders]