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A home in the Hamptons for less than $600,000

Heather Drive home in Remsenberg that is listed

Heather Drive home in Remsenberg that is listed for $549K with Mark Schindler of The Corcoran Group. Photo Credit: Corcoran Group

In the Hamptons, the homes that grab the real estate headlines sell for millions of dollars and come with amenities such as bowling alleys, tennis courts, spas and servants' quarters, like the Sandcastle estate in Bridgehampton, currently on the market for almost $50 million.

Although not all homes in the Hamptons come with stratospheric price tags, according to a report by Town & Country Real Estate, the median price for a house in the Hamptons market for the first quarter of 2010 was $1.1 million, making it one of the most expensive places to buy in the United States.

But there is hope out there for the rest of us, if you forgo the bowling alley and forget about the gunite pool. While some towns like Sagaponack and North Haven are untouchable for most buyers, there are plenty of good values in the Hamptons listed for $600,000 or less - about half the median price. Here are a few of those homes.


REMSENBERG, $549,000

WHAT Three-bedroom, 2 1/2-bath traditional with in-ground pool on .22 acres

WHERE Heather Drive

BANG FOR YOUR BUCK Located in a secluded section of Remsenberg, this 1968 traditional-style Cape offers a fireplace, freshly painted knotty wood pine floors, new decking, a gazebo and an in-ground pool. The closest village is Westhampton Beach, about 2 1/2 miles away. Listing agent Mark Schindler says that with the purchase of a pass, the homeowner has rights to the private beaches of Westhampton Beach. "It's the nicest home in the area in its price range," Schindler says, adding that neighboring homes are currently asking up to $125,000 more than this one.

LISTED WITH Mark Schindler, The Corcoran Group, Westhampton Beach, 631-723-4433



HAMPTON BAYS, $499,000

WHAT Three-bedroom, 2 1/2-bath traditional with in-ground pool on .22 acres

WHERE King Street

BANG FOR YOUR BUCK Channel your inner landlord: This property comes with two separate one-bedroom cottages, both legal rentals.

The first cottage is a one-bedroom with a renovated kitchen, a fireplace and a basement. The second cottage is a one-bedroom studio with a living room-kitchen combo. There is room to build a pool between the two cottages, says listing agent Jude Lyons, who suggests using the second cottage for guests. The homes are about a half-mile to the village and about three miles from the ocean, Lyons says.

LISTED WITH Jude Lyons, Fourth Neck Realty, East Quogue, 917-921-0597



MONTAUK, $499,000

WHAT One-bedroom, one-bath Leisurama beach cottage on .17 acres

WHERE Gannet Drive

BANG FOR YOUR BUCK In the early 1960s, you could walk into Macy's department store in Manhattan and purchase a vacation home in Montauk for about $12,000, complete with furniture, dishes, towels and even toothbrushes. About 200 of these turnkey Leisurama homes were built there; many have been updated and made into year-round residences. This renovated home still has the original kitchen table and chairs, as well as cathedral ceilings, a brick fireplace and new Andersen windows and doors. Listing agent Lynden Restrepo says the home is within walking distance of Gosman's dock and two beach entrances. "It's a nice area for families and kids," she says.

LISTED WITH Lynden Restrepo, Atlantic Beach Realty, Montauk, 516-443-0001



EAST QUOGUE, $599,500

WHAT Five-bedroom, two- bath Victorian on .3 acres

WHERE Bay Avenue

BANG FOR YOUR BUCK This 1920s Victorian is just down the street from the East Quogue town dock and close to East Quogue village and a Hamptons Jitney stop. Neighboring homes have commanded up to nearly $2 million, says listing agent Patrick Galway. The house retains some original touches, such as a stained-glass window and front and back stairways; the back stairway leads to the kitchen. There is room to build a pool on the property. Galway says the neighborhood is "low-key and laid-back," despite some prominent residents, including WABC news anchor Bill Ritter and actress Rebecca Schull, who starred in the sitcom "Wings."

LISTED WITH Patrick Galway, Town & Country Real Estate, Westhampton Beach, 917-748-2117



SPRINGS, $599,000

WHAT One-bedroom, one-bath beach cottage with a separate artist's studio and gardens on .10 acres

WHERE Richardson Avenue, in the Springs section of East Hampton

BANG FOR YOUR BUCK Built in 1932 as a fisherman's bungalow, this 600-square-foot cottage has been renovated and updated by the current owner, architect Glenn Leitch, who helped design the Elie Tahari store in East Hampton. Amenities include a state-of-the-art audiovisual system in the house and garden, as well as landscape irrigation and exterior lighting systems. There is a separate 170-square-foot studio, as well as a sleeping loft above the living room. "It's the most creative use of space I've seen," says listing agent Barbara Feldman. The home is within walking distance of Maidstone Beach and local restaurants, Feldman says.

LISTED WITH Barbara Feldman, Prudential Douglas Elliman Real Estate, Bridgehampton, 631-329-6722



NOYACK, $599,000

WHAT Three-bedroom, 2 1/2-bath cottage on .11 acres

WHERE Pine Neck Avenue

BANG FOR YOUR BUCK If it takes more than two minutes to walk to the water from this home, you're walking too slow, says listing agent Myles Reilly. Circle Beach is at the end of the block, and there is a boat launch across the street from the house. This home is in a private enclave off Gardiners Bay in the Pine Neck neighborhood. The exterior is a combination of clapboard and cedar shakes. There is a great room with a wood-burning stove, a loft and a courtyard perfect for barbecues.

LISTED WITH Myles Reilly, Saunders & Associates, Bridgehampton, 631-458-4907

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