New construction has crept west across Chimney Rock Rd. and onto this Richmond Plaza street south of Bissonnet. Plans for this builder-owned ladder-to-little-loft property, however, may have changed recently. Last week it was relisted with an asking price of $299,000. That’s a big, big price reduction from the $799,000 sought in the previous 6-month listing — perhaps for something new built on the site? (Back in 2010, the 1950 home hit the market at $328,000.) Meanwhile, the lot remains listed by Blum Custom Builders as a potential new home site.

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“Live in or tear down,” the listing says, invitingly. Either way, the location is zoned to Condit Elementary School and Bellaire High School. At 1,451 sq. ft., the existing home has 3 bedrooms with hardwood floors, a full bathroom, formal living and dining rooms, a kitchen (above) with tile countertops, and a den, pictured below.

The 8,662-sq.-ft. lot currently accommodates a backyard deck, the remains of a pergola, and a storage shed. Out front, the driveway ends at a retired garage, converted into interior space.

• 5502 Grand Lake St. [HAR]