At some price, this property may make sense; so far, that price has not been reached

10 Spring House Road dropped $249,000 today and can now be yours for just $3.250 million. It’s a dog’s breakfast of expansions and re-dos of a 1925 house and, so far, has failed to capture buyers’ hearts.

And it’s had time to do so; it started at $8.9 million in May, 2010. I visited it with a client in 2011 when it had already dropped to $5 million, and revisited it a year later at $4.450. No dice, and time and a few hard rentals don’t seem to have improved its charm since.

Land value, I suspect, though the value of five non-prime acres near the Merritt Parkway is probably less than the owner hopes.