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Madaket Waterfront Cottage with a Dock Chopped Below $4M

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Built in 1926, this two bedroom, one bath residence sits on .71 acres overlooking Madaket Harbor and, according to the brokerbabble, "commands a front row seat to the spectacular westend sunsets." Although currently a classically rustic waterfront cottage, the 987 sq. ft. Madaket abode comes with big plans - already approved by the HDC - by Botticelli and Pohl for a 2,800 sq. ft. three bedroom renovation/addition. The property last changed hands in 2008 for $4.15 million and returned to the market in August 2012 asking $4.295 million. Alas, even spectacular sunsets, a rebuilt dock - a sought-after amenity since there's a moratorium on future docks - and those big plans weren't enough to keep the pricechopper away. The listing now has a brand new springtime price of $3,750,000. Just next door, a former PriceSpotter is on the market as well - creating an opportunity for compound interests.

· 13 C Street, Nantucket [Great Point Properties via Zillow]
· Big Reveal: How Much For Sunset Views In Madaket? [Curbed Cape Cod]