35 Strickland Road has dropped, a little, from its first price and now asks $1.395 million. It's a nifty old (1912) bungalow the has great curb appeal, set high up (no flood zone issues) on beautiful lawn, but it really needs a complete gut job. There's also a barn, on a separate lot and its own driveway that, as the listing notes, "could be converted into living quarters". Problem with the place is the I-95 bridge just across the tidal inlet, which brings both noise and lower property prices - this was a far better location back in 1912.
I really haven't done any figuring on what a renovated house would be worth here - if you choose to retain me as your agent, I'll take the time to do so - but armed with a rough estimate of what that renovation might cost, a calculation could be made. Same thing with converting the barn to a rental unit. I wouldn't, I don't think, spend the money to tear both structures down and take advantage of the huge FAR allowance here to build a huge house.
Not unless the Swedes manage to permanently ban vehicular traffic on I-95.