SAN DIEGO -- There are questions being asked about the sale of a house boat by U.S. Rep. Randy "Duke" Cunningham, in addition to the investigations of his buying and selling real estate, 10News reported.

Read: Cunningham's Statement Regarding Sale Of Home

The houseboat in question is 65 feet long, sitting in a dry dock at a New York City shipyard.

Cunningham sold the boat and piloted it to Glen Cove Marina for the new owner to take possession.

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Cunningham lived aboard the Kelly C for five years, buying it for $200,000 in 1997 and selling it in 2002 for $600,000.

He sold it to a Long Island businessman convicted of bid-rigging who wanted advice on how to seek a presidential pardon, a transaction called unusual or questionable.

"I mean you can buy a $200,000 boat and sell it for $600,000 -- that's not a problem, but how much money do you have to spend to make it worth $600,000? Seems extraordinary, what went on," yacht broker Neal Esterly said.

Some repairs have been made to the Kelly C, like a new coat of paint, but it's less than pristine.

"Boats generally depreciate -- that's the norm. The newer the boat, the faster it depreciates. Typically, an older boat won't depreciate as fast -- usually about 5 or 10 percent a year," Esterly said.

Congressman Cunningham spoke out for the first time since his home sale controversy at a private Rotary Club luncheon.

"The only thing investigations can do is help us so we can get this behind us," Cunningham said.