This home in Southold may look familiar to HGTV fans. On the market for $492,000, the three-bedroom, two-bathroom ranch was featured on the show "Vacation House for Free."

The show's host, Matt Blashaw, helps couples find homes that they can renovate and rent out to cover the cost of the mortgage. The episode filmed last summer, when the house was on the market for $535,000.

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The producers picked the house because it was well maintained and within walking distance of the beach, says listing agent Marie Bransfield of Town & Country Real Estate.

On the show, Blashaw provided suggestions for renovating the home, including moving a spiral staircase in the center of the living room off to the side and turning the upstairs loft area into a children's play room. The house also has an indoor spa with a hot tub, and Blashaw also had ideas for renovating the space.

The couple did like the open living area, vaulted ceilings and skylights, but ultimately decided to buy another home.