Trailer in the Hamptons is listed for $1.1 million

There's only one mantra in real estate that really matters: location, location, location.

It's why this run-down trailer in the Hamptons is on the market for $1.1 million.

The 400-square-foot space boasts one bedroom and one bathroom.

This property wasn't always this expensive. The New York Post talked to Richard Lester, the current owner. He said he originally bought the land - which is less than half an acre - in 1956 for just $300.

Talk about inflation! The $1.1 million price tag sort of makes sense when you look at the prices nearby homes have sold for.

Like the five-bedroom house that sold for just under $4 million in the summer of 2014.

An 8,000-square-foot stunner, which is currently being built, is on the market for almost $16 million.

Celebrities like Jerry Seinfeld and Martha Stewart also have homes in the area.

The trailer's price is actually lower than the average listing price in the Hamptons, which is now around $1.7 million, according to CNBC.

If trailers really aren't your thing, though, just do as the listing says and "Use it as it is now, while you plan for your 4,000 square foot new house with [a] 20 foot x 50 foot swimming pool."

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