Not yet on market - direct waterfront / teardown. Marshfield MA

[Charlie MacPherson]

I met with a potential client this morning who is about to list a 2 BR / 1 BA upgraded cottage at the junction of a river and the Atlantic ocean.

In the interest of full disclosure, I do NOT yet have a contract to market this property, but expect to have one within a few days.

This home has an astonishing 0.27 acres of waterfront land with spectacular ocean and river views.

It seems to me that the highest and best use is to tear down and build a 4 BR / 2 BA, ~2000 SF with upgraded decks to maximize the views.  

You could also rehab and flip.  It's currently 813 SF and has a 1 car garage under.

Of course, your own due diligence with town officials is required.

It's in a flood zone - most likely AE and with a tear down can probably be elevated above the flood plain fairly easily. The seller's niece (who has POA) tells me that the basement gets a small amount of surface water in flooding periods. Perhaps an inch or two according to her.

As a bonus, it's already on town sewer (no worries about private septic) and has natural gas.  Both are big selling features in this area.

COMP: 12 Parker St, Marshfield (Rexhame), MA.  4 BR / 2 BA, 1878 SF, 0.13 AC (less than half the land of the subject property). It sold in Jan 2015 at $635,000.

The client is not desperate - it's not a wholesale deal.  They have already turned down $320K.  However, they have prioritized closing quickly over maximizing income.

If this sounds like a flip or tear down that interests you, please message me ASAP through BP or text 781-412-4151. We plan to go to MLS shortly, unless we have an interested investor.

- Charlie MacPherson, Realtor.  Lydon Real Estate & Mortgage
Norwell, MA