This home offers flexibility you just don't find every day, especially in the historic district. This 2,160 SF, two-story home has a proven layout for multi-use living, income potential, or both. With 4 bedrooms and 2.5 baths, the home is currently configured as two separate living spaces. Downstairs is 3 beds/2 bath, and upstairs is a 1 Bed/1 Bath (with 5th bed potential), plus a 2nd kitchen. Live on one level and rent the other, create a multi-generational setup, or explore a duplex conversion and rent both floors. The home sits on a generous 1/3-acre lot with both front street and rear alley access, with a fenced backyard,. It's just minutes to downtown DeFuniak Springs, Lake DeFuniak, Walton Middle, and offers quick access to Hwy 331 South, putting the beaches About 30 min away. This is not a teardown, and it's not pretending to be fully renovated either. The important pieces are in place, including a new water heater, a roof approximately 10 years old, and electrical and plumbing updates completed over time. While the home does need cosmetic updates, features like the original craftsman stone lends authentic charm. And according to the owner, original tongue-and-groove walls are hiding behind paneling and wallpaper, just waiting for someone to uncover. Window units are used throughout, and the property has a history of an upstairs rental. This is a chance to buy into the historic district with multiple exit strategies, and without paying finished-home pricing. If you're looking for charm, potential, and a property that can evolve with your plans, this one is worth a closer look.