Katharina Buczek
So, as you can imagine, the area is home to its fair share of beach mansions that are to die for. Last month, though, a new and downright small listing on Zillow raised questions about the ridiculous market value in the area.
The home is located at 2 Cabot Lane, and its sellers are asking for $2.095 million. But the real kicker is that the house is a one bedroom and one bedroom that is only three hundred and sixty square feet.
Sure, the outside of the home is well-maintained and features a quaint yard area. The inside of this single-story cottage is also updated with shiplap walls, new light hardwood floors, new appliances, and a tiled bath.
Zillow; pictured above is an interior view of the listing on Cabot Lane
Yet, doling out over $2 million dollars for a home that is smaller than most New York City apartments would likely sound utterly insane to most people.
After all, the estimated monthly mortgage payment on this property is over eleven thousand and two hundred dollars.
Interestingly, though, this home is not alone in its questionable size-to-price ratio. Yes, it is the smallest listing currently on the market in Nantucket– and with a higher price point than other larger homes.
But, another property located just over half a mile away at 7 W Chester Street is currently listed on Zillow for $1.995 million.
The house does have more square footage– seven hundred and eighty-eight square feet– but not much.
It also only has two bedrooms and one bathroom and does not boast any out-of-the-ordinary home features.
Why exactly these homes are valued either at or higher than the price of this third listing, located at 13 Daffodil Lane, remains to be seen.
This property’s sellers are also asking for $1.995 million, but the home is significantly larger– with four bedrooms and three bathrooms and over two thousand and one hundred square feet.
