You may laugh, but when I first moved here I couldn't believe people paid more to live on the water. Where I came from that's where the poor people lived because it smelled bad in the summer and was likely to get flooded out in the fall. Water street in every town was not a place you wanted to hang out.
My aunt paid 15k for water front on Kent Island, sold it in the late 70's for 45k. Can't imagine what it's worth now. And it was behind Holly's. Who remembers Holly's for an early breakfast before going crabbing?