Waterfront Home on Elmer Davis Lake, Priced Below Appraised Value Some lake homes just feel right the moment you arrive, and this is one of them. This 2-bedroom, 2-bath waterfront home sits on five wooded lots along the quiet shores of Elmer Davis Lake, in a private, gated lake community in Owen County, Kentucky. Inside, rustic charm meets modern comfort, with open living spaces and unobstructed lake views from the main living area. Outside, mature trees and a gentle slope to the water give you both privacy and easy shoreline access, plus a private dock for kayaking, fishing, and slow mornings by the water. Here's what makes this a rare find. The home recently passed full FHA underwriting, including foundation engineer certification, and it's being offered below its most recent appraised value of at least $250,000. Adjacent lots and a second dwelling are also available to the buyer, giving you room to grow, host, or simply protect your privacy for years to come. Weekend retreat or full-time residence, this is a rare chance to own a true Kentucky lakefront home, private, peaceful, and still just an hour from Lexington, Louisville, and Cincinnati.