Gorgeous Nantucket home that's set to be swept into ocean is still worth huge sum
Daily MailAn oceanfront home on Nantucket's rapidly eroding Sheep Pond Road is still valued at a significant sum despite the impeding coastal erosion. Two oceanfront homes on Nantucket's rapidly eroding Sheep Pond Road—one of which has been condemned—are still valued at significant sums despite the impeding coastal erosion The homes were set for foreclosure on Monday, but the auction was postponed after the owner filed for bankruptcy The second house on the property, which was recently declared uninhabitable due to the advancing coastline, was assessed at $693,700. The Sheep Pond Road homes were fetching as much as $16,000 per week in summer rentals, according to the Nantucket Current. The Sheep Pond Road homes in Nantucket were fetching as much as $16,000 per week in summer rentals, according to the Nantucket Current Over the last 40 to 50 years, erosion has claimed around a dozen homes in the area Another property at 28 Sheep Pond Road, assessed at nearly $2 million, sold in June for $200,000.
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Stunning beach-side Nantucket home sells for just $600,000, just three years after it was last listed for $2.3m - but there's one big reason for the discount. So, can you guess what it is?
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