Pending on Native American Road, Riverside

On what is temporarily known as Indian Head Road and soon to be rechristened “Red Skin Alley” (or “Indigenous People’s Boulevard” — the neighbors are still debating the issue) 85 Indian Head Road, asking $5.5 million, reports a pending sale. It’s been a heap long path to get here, Tonto.

Its 1.7 acres, a good chunk of which is quag (so much nicer a term than “swamp”), were purchased in 2006 for $2.335, then priced for resale in February 2011 at $2.995 before expiring unsold on December 31, 2012 at $2.750. The market being the fickle creature that it is, the property was again re-listed in June, 2013, for $3.195, and sold in 17 days.

But the saga didn’t end there. The new owners built a house on spec (“Camp Monakewago”) and listed it at $7.495 in July 2016; that attempt was abandoned in May 2018, while the house was priced at $6.750.

So it was rented out in 2019, and brought back in June ‘21 at $5.995. That dropped to the current $5.5 million, and now it’s finally found a buyer. Ugh. Given the cost of the land and construction, and the carrying costs since 2016, the builders have probably lost their scalps on this deal.