Transaction Highlights, June 13

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By Phelan Wolf, Esq.

147 Great Hill Road, Unincorporated Southampton, $700,000

This property is located in the North Sea area of Southampton, which is directly north of Southampton Village, near the bay.

The lot is large, at 2 acres, and is mostly wooded, with the house accessed via a long private drive. It backs up to an even larger block of preserved woodlands but there is some industrial property nearby.

The house was built in 1983, which makes it 30 years old, though it is in good condition. It is a 2,100-square-foot Cape, with three bedrooms and three baths. That’s significantly larger than many similarly priced homes, and it shows inside, with a spacious living room with wood stove, newly renovated kitchen with cork floors, and sunny dining area with sliding glass doors close by. There is also a sunroom and a greenhouse for additional cheer and a two-car garage.

While there isn’t much yard or landscaping, near the house there are some attractive stone paths, and a water garden/fish pond. The lack of a significant yard makes for a low maintenance property, and with 2 acres of land there is plenty of room for a pool or perhaps a tennis court.

This property last sold 15 years ago, in 1998, for $315,000. Using rough numbers, it has appreciated at about 5.5 percent per year since that time. That’s around the national averages, and probably what can be expected in the future for a property like this one. While it may not offer a great deal of investment upside, this is a lot of house for the money today. A home that is larger than 2,000 square feet, on 2 acres bordering a reserve for $700,000 is a good deal by any measure.

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