(Almost) Free at Last!

75 Fairfield Road (link goes to the rental listing) is reported pending this morning. Asking price $1.550 million. Its owners paid the full asking price of $1.675 million in 2004 ($2,627,116.46 in current dollars), put in a new kitchen and baths of middling quality, and returned it to the market in 2005 for $2.2 million. That price proved a tad aspirational, with the result that the property’s been on and off the market ever since, coming on for sale, then being rented out when no buyer appeared.

I assume that the rental income over the past 17 years has proved profitable, especially because maintenance costs appear to have been minimal.