Although located only 120 feet from a residence that was demolished due to beach erosion, a home situated on a coastal stretch in a well-known summer destination is on the market.

And the owner wants millions.

The Nantucket, MA, property, a four-bedroom, three-bathroom house, is in the company of notable summer residents such as Dave Portnoy, Bill Belichick, Ben Stiller, and the Soros family. It stands adjacent to a home that was dismantled in 2023 because erosion rendered it unsafe.

Positioned at 22 Sheep Pond Road, the house is on land known for homes being dismantled as the Atlantic Ocean advances, eroding what was a pristine shoreline.

It hit the market for $2.395 million.

Despite the risky location and uncertain timeline of the home, the listing makes no mention of the problem.

Instead, the description gushes about the ‘unobstructed ocean views’ and proximity to the water.

‘Listen to the surf from every room. Walk just steps to the sandy, pristine beach, accessible only to residents of Sheep Pond Road.’

The listing suggests: ‘Stroll down the beach to Millies for a meal, dessert, or ice cream, or relax at home with drinks and enjoy the famous Madaket sunsets from the spacious bluestone patio featuring a firepit or from the elevated porch.’

It fails to mention that the views that are only unobstructed because the house across the street was razed before it crumbled into the sea. 

Since 2014, seven structures along Sheep Pond Road have been demolished, according to the Nantucket Current.

Three others managed to pick up their homes and move them inland as they had around a year’s notice to move them or see them destroyed.

The island’s Department of Natural Resources reports that the area loses between seven to 10 feet of land annually. However, earlier this year, certain sections eroded by as much as three to five feet within a few months.

All this could make one wonder why anyone would be interested in buying a home there.

According to island realtor Gary Winn, the erosion issue is quite nuanced. He tells the Daily Mail that although locals are not in a state of panic, purchasing a Nantucket home is still considered ‘a gamble.’

‘The erosion has been consistently about 10 feet a year for 30 years,’ Winn says.

‘Sometimes there are five-year periods when we haven’t had an inch of erosion. And other areas, like Surfside, have actually grown the shore out hundreds of feet.’

Still, when huge storms hit the area, that is when rapid erosion can worry residents, he says.

‘These houses have always been a gamble. Some were moved back years ago, and everyone knew eventually they were going to go.’

He said that investors who can rent out the homes are the ones buying the at-risk properties. 

‘Many of them still get huge rental incomes that can pay for the house in just a few years.’

Winn said a home like the latest one for sale can rake in $150,000 to $200,000 for the summer season alone.

He has his own listing on the same street, just a few doors down at 36 Sheep Pond Road. It is a four-bedroom selling for $2.99 million, but it has been on the market for 1,120 days now.

Winn says there are five homes that have been at risk over the last 15 years.

In 2023, 21 Sheep Pond Road was demolished after a storm destroyed the southeast corner of the home.

In 2024, 4 and 6 Sheep Pond Road were sold for just $600,000 each after the seller grew desperate. The original asking price had been $2.2 million each. 

The home at 19 Sheep Pond Road did not even need to be demolished as it simply collapsed into the ocean.  

And in 2010, 3 Sheep Pond Road fell off the cliff into the sea.

Yet, Winn insists the new home for sale could still be a bargain.

‘That house for sale is more than 400 feet from the water. It’s probably got 35 years,’ he said.

‘For $2,995,000, that’s a great house.

‘Other homes might have 10 years left, or three. You just don’t know. But even those under a million can make over $150,000 a summer in rent — so some buyers are willing to risk it.’

Some buyers wait for a seller who slashes the price to rock bottom before making their move.

In May, both 35 and 37 Sheep Pond Road sold for $400,000 — less than half their asking price.

But the listing warned: ‘Property is subject to coastal erosion.’

At nearby 334 Madaket Road, a house recently lifted and moved back from the ocean is still listed for $1,895,000 — up from $1.495 million last year, while its sandy old foundation sits empty just feet away.

Overall, the median sale price in Nantucket has dropped from $3 million in May 2024 to $2.5 million in May 2025.

Local officials are trying to fix part of the problem. 

As the southwestern shoreline continues to erode, threatening to cut off portions of Sheep Pond Road completely, the town is working through a process to create an alternative access road for residents.

The goal is to create an unpaved section of Sheep Pond Road that runs behind existing homes, according to the Nantucket Current. But the permits and construction come with complicated red tape. 

Concerned locals have also formed a group which has seen special beach defenses erected in the hopes of holding back powerful waves.

These Geotubes, also known as geotextile tubes, are strong permeable structures that are filled with sand to weigh them down. They are often sand-colored so they blend into the beach and do not become an eyesore.

But the installation is causing a war. 

Some residents want to see them expanded, while others feel they should be removed entirely because they can just shift the erosion problem further down the shore to areas not protected by them.

Still, Winn insists people will buy.

‘Very few houses are truly at risk in the next 10 years. Maybe five total,’ he said.

‘And some have room to move back. This has been going on forever — people have always gambled with these homes. But I don’t see any emergency right now.’