The waterfront community of East Island was once J.P. Morgan's sprawling Glen Cove estate, which the financier built in 1913. It now has more than 140 homes, including a four-bedroom, three-bathroom farmhouse-style place that is on the market for $749,000.

"This is a modest home in a waterfront community that has mansions on the water," says Carolina Boucos of Daniel Gale Sotheby's International Realty, who is co-listing the property with Janine Fakiris.

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The 1958 home, which has an open floor plan and a private guest suite on the lower level, is a block from Dosoris Pond and a half-mile from Pryibil Beach.

There are winter water views from the half-acre property.

Called Matinecock Point, the Morgan estate was approached via a bridge with a guard house, which is still there. In 1915, Morgan was shot twice, but not killed, at his estate by a Cornell University German professor who was protesting World War I.