A trailer which seems to be standing the test of time, despite its run-down appearance, is also trying to stand the test of a nearby housing market boom and sell for $1.2 million.
Yes, that's right, 1.2 million. Dollars.
At first glance, the trailer, a 700-square-foot home, looks like it could possibly be found anywhere but in the Hamptons. In fact, the trailer is sitting in the Hamptons, right next to a wealthy section called Indian Wells Beach.
Owner Richard Lester, a 79-year-old fisherman, told the New York Post he bought the property in 1956 for $300. A short time later, he was able to purchase the trailer for $15,000.
Lester and his wife, Tess, hope to sell the now run-down trailer, which sits on 0.36 acres of land near neighbors like Paul McCartney and other famous people.
The wood-paneled trailer was once something Lester worked very hard to earn, but now he knows he's living on a gold mine.
"I had to work my a** off to get that," claims Lester.
However, the gold mine isn't the trailer, of course. It's the land.
Douglas Elliman Real Estate agent Ray Lord is eager to sell the land but knows the run-down mobile home can be a bit off-putting to some buyers.
"Erase the trailer from your mind and it's $1 million for land...No one, I imagine, would build less than a three-bedroom, three-bathroom house."The property comes with a shed which could be used as a pool house, and the listing suggests the new owners could possibly live in the small trailer while their mansion is built on the property.
According to Yahoo Spaces, the run-down trailer was first listed in October for $1.6 million.
The trailer and land did have a potential buyer, but the husband and wife could not agree on purchasing the property, according to Lord. The wife "was not keen on the idea."
Richard Lester would make a huge profit if he were to sell his old home and land for $1.2 million at the Amagansett South site, and he never once dreamed he could make so much money.
"Not in God's world. I think it's ridiculous!" exclaimed Lester.
The run-down trailer sits on a lot behind another home without much of a view, but Lester is hopeful there is a wealthy person out there who is ready to shed a million to grab up the land before too long.
[Photos by Yahoo Homes/Douglas Elliman Real Estate]