Are We Getting Ripped Off Down Here?

123 Riding Ridge Road, Monroe, #@$%-ing CT, asked $649K, now has deal.

123 Riding Ridge Road, Monroe, #@$%-ing CT, asked $649K, now has deal.

Ok, I get it that it’s Monroe, Connecticut, and that’s not an easy commute to most places we work, but still, $649,000?? The land appears to have sold for $155,000, which down here in Greenwich is pretty much the price of a decent summer rental, but how does the builder make money with an ask of $649,000?

The house is listed at 2,889 square feet (1,200 unfinished, walk-out basement), land is 2.88 acres and, well, take a look at the photos…is it so bad? Even a snob like me must admit the house appears livable…nice, even!

And the cost to build was what, $150 per foot? No, that’s too much, there would be zero profit at that cost, so… Ok, I’m stumped, either we’re all getting ripped off down here, what with $400-$1,000/foot building costs, or the Monrovians have figured out how to build houses at $100/ft and they’re keeping it a secret.

Here’s what it looked like as a land listing: 123 Riding Ridge building lot.