The Only Affordable Property In NYC For $110,000……..But There’s a Catch

New York real estate is eye-wateringly expensive, but there’s one bargain up for grabs if you’re willing to make a few concessions. The average home in New York now costs $746,000, but there’s one property in Rockaway, Queens, that has just hit the market for an amazing $110,000, and it even comes with a waterfront view. The only catch is that the 2-story house that boasts 4 bedrooms, 3 bathrooms, and a full-size kitchen is actually in the water. The wooden paneled houseboat, currently docked at Marina 49 in the Queens neighborhood of Arverne, was built in the early 1980s and has had quite the life. From housing the crew of a famous sloop to surviving Hurricane Sandy and having editorials and TV shows filmed on it, this historic barge has seen it all. Buyers will need to keep in mind that the cost of much needed repairs is not included in that attractive price tag. The bathrooms, railings and potentially the siding all need updating. Docking fees run about $2,100 a month, but given that the average rent in New York City is $3,760 a month, it’s still a bargain. The listing is getting the rush of attention, proving the real estate landscape of New York City is possibly unlike anywhere else in the country.