My parents sold their lakefront property in the late 80's for 250K (prime spot 200' of shore frontage) the buyer flipped the property and sold at a profit to someone that took down the house except for the stone fireplace, hearth, and chimney, and built a new house. Last year's assessment was 1.2m. You can't go wrong with lakefront! BUT! if you look at it as an investment, it is a normal equity holding.
