This 288 sq. ft. tiny cottage for sale in Chatham, MA is used as a rental investment property.
In 2014 it brought the owners $15,000 in income. The asking price for the tiny home and property right now is $274,000.
It was built in 1963 and is located near beaches, farmers markets, and more. Please enjoy and re-share below.
288 Sq. Ft. Tiny Cottage For Sale in Chatham, MA
Images © Tony Guthrie and Robert Paul Properties on Zillow
Images © Tony Guthrie and Robert Paul Properties on Zillow
Learn more: http://www.zillow.com/homedetails/314-Orleans-Rd-Chatham-MA-02633/2107651808_zpid/
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Darling as can be but at $951/square foot, this is sheer insanity!!!! I’ll be the first person to defend a pricey tiny home on acres of land but THIS….are you kidding me?!?! I followed the zillow link and looked at the Bird’s Eye View of the street address: this tiny home sits smack dab in the middle of normal sized homes! No privacy, no escaping your neighbors…and your income is a measly $15,000.00 per year? It would take you 18.25 years to earn your money back on this “investment”.
A folly, for sure, despite how super cute it is. Hum-Bug, I say!
It must be Christmas… Cahow said HUMBUG!!! LOL
Even in New Zealand dollars, that is pricey for a 1 bedroom place. But, the rental rate is higher than you would get here in most places, apart from the expensive cities of Auckland, Wellington & Christchurch.
You want to see expensive? Look at this website
and then convert NZ dollars to US dollars.
Then prepare for your heart attack. Especially when you see the asking prices in Auckland & Christchurch.
Paul, you sure made me laugh, mate! Yes, I “hum-bugged” it sheerly because it’s Christmas. LOL
Wishing you a Merry, Merry Christmas among the heat and eucalyptus trees. 😀 We’ll be dreaming of a White Christmas in Michigan.
You will be more than dreaming of a white Christmas, you will be living it. Wish it was me living it, but Fresno, California would be praying for it, relentlessly, and still not get a white Christmas. When my oldest granddaughter was two years old, we did get about a quarter inch, that lasted less than an hour. She is nineteen now, and unless we move, she will near see any more. You are so lucky.
I have 1800 sf on a 1/4 acre lot in sunny Florida in an historic county and I paid no where near this amount, plus my property taxes are under $500.00/yr and I’m Homesteaded (so no ugly surprises).
Your not just buying the house your are also buying the land. You can’t say you are paying $951 per square foot. By your reasoning if it was just a vacant lot it would be $0
Sure it’s pricey and I like it a lot. But it’s in Chatham on Cape Cod, a desirable touristy area. There are many people who will jump at the chance to invest in a property like this. As I’ve moved around the country in the last 50 years or so, I’ve come to realize that the cost of things is completely relevant. Everyone needs to decide for himself or herself what is appropriate.
This so reminds me of the roadside tourist cabins back in the 50’s and 60’s before motels started to replace them.. I could live happily in something like this in a heart beat.. Love the big sliding back door..But I agree with Cahow. about the asking price…It is sheer insanity ..
On second look . I don’t see any closet space at all.. not even one small one. So where is one expected to hang their clothes or store stuff? And for that price they are asking..Is it insanity or just plain down right greediness? to see who will be foolish enough to throw away that kind of money on something like this….
The assessment of the home is only $164,300. Taxes are just over $800. Why the crazy price increase? Surely they aren’t banking on the fact that people don’t check these things prior to a huge purchase? Ick.
Hi everyone! I’m new to this whole scene and way of life. My wife and I are looking forward to buying or preferably building our own somewhat small home (500-700 sq. ft.) in the hopefully near future. I may not know property worth as much as the next person, I however feel that this is extremely over priced for such a small place. I would not spend this amount on a McMasion let alone a small cottage. Even at the assessment price it is far more than what I am willing to pay. It is nice but I have seen many much smaller homes with far less of a cost that offered more than this one does. Just my two cents worth. Have a great day everyone!
Well, if Chatham, MA is a 5-minute subway ride from Harvard Square, or if the house comes with a gardener, housekeeper, and a handwritten note from the sellers, thanking me every day for financing their his-and-hers yachts, maybe.
But they can always hope for that buyer who has more money than sense, and whose wallet starts hemorrhaging money whenever they see something cute.
No reflection on you, Alex–I think this is a great way to educate people as to what’s out there. Who knows? Maybe someone will snag a great DIY idea from looking at the photos.
I love the outdoor space but the inside leaves a lot to be desired. Look at the size of the actual kitchen in the context of what is next to and around it! Maybe the price is in line with the location, but I don’t think it’s worth it.
I get that some people are put off by the “high” price, but according to Zwillow, average price in that area is around 900K. So if you really wanted to live in that area, 230K might be how you do it. However, I have a feeling this place was purpose build for vacation/rental as an income generator.
this price for anywhere on Cape Cod is quite reasonable…..
Here’s what a random search for Chatham turned up: http://chathamrealestate.com/chatham-real-estate/chatham-ma-homes-with-land/
and to think this may be under water one day!
This would make a great week-ender for someone who works in downtown Boston, someone who owns a boat, or a writer’s abode. Chatham is beautiful but remote and all of Cape Cod is insanely priced so unless you don’t mind blowing a lot of money for a very tiny piece of heaven, this is not a good deal. (Really love the hydrangea!)
Well, it’s two years later (April of 2017) and I see this place still hasn’t sold. I’m not surprised. No one in their right mind would pay that much for so little. But then again, maybe the owners really don’t want to sell it or they would make the selling price more attractive. Or, maybe they are wanting an eccentric billionaire to become their neighbor. Who knows? But I expect in another two years this place still won’t have sold; not unless they do something about the price …
Lisa, it did sell: http://www.robertpaul.com/real-estate/314-orleans-road-chatham-ma-02633/21402787/18807648 And my family lives not far from Chatham. I know the price is high, but to be honest it’s VERY reasonable for the area.
Well, I can’t argue that the prices are high on the Cape. My family used to summer in Brewster; our main residence being out by Concord. I can remember when Cape property was dirt cheap. Now you’re lucky if you can afford to spend a weekend there. This happened as a result of the Republicans taking over MA, which originally was a cornerstone Blue State. I can’t imagine who laid out that kind of money for this cottage, but more power to them!
That’s Chatham for ya! We live in thenext town, and this was in the Sunday Cape Cod Times Real Estate section. My house is about 2 1/2 times bigger than this (and that’s still petty small), and it’s worth about 185,000. Wow. Speechless.
In my local market, commercial investment properties often trade at or near a 5.5% capitalization rate (income vs sale price). And I have to ask, what is land value in that neighbourhood? You can cart the house away in a day, so that $274,000 is essentially land. Possibly outrageous land, market dependent, but…..
I have a house right across the street from the Intracoastal waterway that is over 800 sq, feet on Oak Island for less than half that price! There must be gold under that house or fairy dust on the ceilings 🙂
Its lovely. I guess they can ask whatever they want for the place, but if they get that price is another story.
Nice floor plan but……. I didn’t see a bathroom.
This house, sitting on 20 acres in the remote mountains of Arkansas, would cost about 25k t0 35k. That would be just my speed. You might get a creek and a cave with the deal.
I get that it’s overpriced, but if I had the money I’d snap this up! And who cares about the rental income? You wouldn’t be able to pry me out of there with a crowbar. Gorgeous!
I call dibbs!
What a charming little place!
I LOVE the interior!
It’s my beach house!
Thanks for bringing this to our attention Alex. It’s a lovely little house. =)