In doing some research, I found that there is only one dwelling unit with fee-simple ownership, currently on the market, under $500,000 on the entire island. This is quite a change from one year ago. There are a number of condominium units below $500,000 listed for sale but only one that is not a condo. It is 78 Arkansas Avenue, an attached townhouse unit at Tristram’s Landing in Madaket and is listed by Great Point Properties.