Back after a time out, at same price

136 Parsonage Road is back on the market after a month off and remains priced at $5.695 million, which is considerably lower than the $8.295 it originally asked for in April 2017.

Whatever they ultimately get for this property the owners have surely lost money. They paid $4.2 for its 2.69 acres and a tear-down in 2007 (ah, the glory days), then built a 10,845 sq.ft. custom home with pool, guest house, and tennis court, and put in a geothermal system. Even at, say, a $5.5 sale price, that allows a budget of $1.3 for all that, less transaction costs. I don’t think even Mara Gay can make that math work out.

Interestingly, I see that in 2015 the town appraised this at $1.557, land, $3.905 structure, for a total of $5,462,900. That seemed low at the time, now it seems prescient.