Big Reveal: $3.295M for a renovated Water Mill cottage sitting south of the highway

This week on PriceSpotter, we asked readers to guess the asking price of this recently listed cottage in south-of-the-highway Water Mill. Built in 1966, the renovated home stands 2,100 square feet with three bedrooms and three full bathrooms. New features since the renovation include a new kitchen, new flooring, a new roof, and a fresh coat of paint.

On a half-acre of land, the property has mature landscaping and a heated gunite pool.

The home last sold in 2016 for $2,275,000. Most of our readers—about 42 percent—guessed the home was currently asking between $2 million and $3 million, even after the renovation. However, the home is listed for $3,295,000 under Sotheby’s International Realty agent Gioia DiPaolo.

About 22 percent of readers guessed in the correct category of between $3 million and $4 million, while 22 percent thought it was under $2 million. Only 6 percent of people went for the asking price being between $4 million and $5 million, while even less readers (2 percent), guessed that it was asking over $5 million.

The listing suggests expanding by adding a second floor to the home. Interior features include hardwood floors, a fireplace and skylights in the living room, sliding glass doors that lead out to the patio from the master suite, and his and hers dual vanities in the master bathroom.

Nearby on Cobb Road, a 10,500-square-foot home for sale with seven bedrooms and 10 bathrooms is asking $8.49 million. That home is on a slightly larger lot, but still under an acre at 0.83 acres—however, the house is five times the size of this one.

• 158 Cobb Road [Sotheby’s International Realty]
• How much for a renovated Water Mill cottage sitting south of the highway? [Curbed Hamptons]