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OTRC: Taylor Swift buys Cape Cod home near Conor Kennedy's grandmother?

Taylor Swift has reportedly bought a waterfront home on Cape Cod in Hyannis Port, Massachusetts ... right across the street from her rumored boyfriend Conor Kennedy's grandmother, Ethel.

The 4,440 square-foot Colonial-style property sits on 1.11 acres and contains seven bedrooms and five bathrooms. The home also has its own private beach and overlooks the Nantucket Sound area of the Atlantic Ocean, near Cape Cod. Real estate records show that its most recent listing price was $4.9 million, which is what Swift paid for it last week, according to People magazine.

Swift, 22, has not commented about the sale. The house, which was put on the market last year and taken off public listings recently, is located near the famous Kennedy Compound, which includes several properties, including Ethel's and one said to have been used as a summer home by the late John F. Kennedy when he served as president.

Swift and Conor, his nephew Robert's 18-year-old son, have been linked together romantically since at least late July. The two have not confirmed a relationship but were recently pictured together and in one photo, featured in People magazine, Kennedy could been seen with his hand clasped around Swift's waist.

Swift, who grew up in Wyomissing, Pennsylvania and Nashville, Tennessee, was recently named at the top of Forbes' list of Highest Paid Stars Under 30. The singer earned $57 million between May 2011 and May 2012 to help her land at the top spot.

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