Tiny Cape Cod Cottage That Spans Less Than 800 Square Feet Is Listed for a Huge Price

A petite Cape Cod residence offering less than 800 square feet of living space has just hit the market in Provincetown, MA, for the sky-high asking price of $1.5 million.

The asking price for the 788-square-foot residence translates to an astronomical $1,897 per square foot.

But while that price tag might seem extraordinary, it is is far from an anomaly in Provincetown's surging real estate market because of the area's high demand and limited housing supply.

In fact, in a community where the median listing price sits at $1,458,750—and where condos are currently on the market for as much as $5.3 million, there are many who are more than willing to pay a pretty premium for a private residence of this nature.

"Provincetown has always kind of commanded high prices for these type of homes because there is a large pool of people who don't want to live in a condo," says listing agent Brett Holmes of Berkshire Hathaway HomeServices Robert Paul Properties.

"A freestyle home like this is the next best thing to a single-family residence."

Holmes adds that Provincetown has little to offer in the way of budget-friendly homes, explaining that single-family homes are typically listed with multimillion-dollar asking prices, meaning that smaller, more compact abodes such as 56A W Franklin Street often command upward of $1 million.

"You can find a $3 million single-family home, but when you go into smaller properties, finding something like this is not uncommon," he notes. "Our market is dictated by price points rather than per square foot."

Nestled in the coveted West End neighborhood, steps away from bustling Commercial Street and the Boatslip, the property was originally built in 1960 and has had a steady stream of owners over the years.

Ideally located near restaurants, cafes, beaches, and shops, the property could be used as a year-round residence, seasonal getaway, or investment opportunity.

"The West End, from Winthrop Street to the Red Inn on Commercial Street, is a pocket that has the highest demands," he adds. "It commands a higher price point. West End proper, also known as the Golden Triangle per se, starts the trend for the rest of the area."

Found inside the newly renovated, petite pad boasting no association fees are a great room with vaulted ceilings that opens to a modern kitchen with quartz countertops, stainless steel appliances, and a spacious island.

"The sellers purchased the property about a year ago, did some renovating, and use it as an Airbnb," Holmes says. "They reworked the living spaces, moving the bedroom to the front and the living space to the back. There is also a new kitchen and new bathroom, and they also changed out the landscape."

A dining area has access to sliders that open up to a deck in the private yard that features an outdoor shower.

The sun-soaked, king-size bedroom is surrounded by windows and has an oversized closet. A renovated bathroom offers a walk-in shower.

And while the structure itself might be diminutive in size, the lot on which it sits is much more sizable, spanning just over 4,350 square feet, allowing ample room for outdoor entertaining, dining, and relaxing.

There is also plenty of potential in the dwelling, which Holmes says would be suitable for a wide range of buyers, whether they are seeking to settle down in Provincetown full time, find a turnkey vacation abode, or secure a lucrative rental opportunity.

"It's definitely a year-round property," he notes. "The gentleman who lived there prior to the sellers lived in the home full-time.

"I envision the next buyer to be looking for a second home, maybe someone from Boston, L.A., New York, or Atlanta, looking to split their time between Provincetown and another location.

"It has a Title V septic system designed for two bedrooms, so there is an opportunity to expand, subject to town approvals."

Another coveted feature of the home is plenty of available parking on property.

"The majority of homeowners in Provincetown are secondary homeowners," he adds. "The ferry is very convenient to come in from Boston in just an hour and a half. You can also fly in on a 15-minute flight on Cape Air from Boston, which is much easier than a three-hour drive from Boston."