A beautiful waterfront personal residence + a turnkey income-generating private cottage for four or two exceptional waterfront dwellings for your multi-generational living or retreat, with opportunity for supplementary income when not occupied by your personal guests. Or both! This rare property features a 2056 sq. ft. main home and sleeps eight. It was completely renewed in 2024. Its highly rated private turnkey modern Airbnb cottage sleeps four. The main residence is 90% furnished, has a chef's stainless kitchen adjacent to the expansive sunlit open concept living and dining room, with a main floor bedroom, and a recreation room ideal for entertaining, hobbies, or creative space. It has three bedrooms up, another full bathroom, and a balcony leading off the primary-upstairs bedroom. 2024 upgrades included new: heating system, hot water heater, reverse-cycle AC, appliances, and new first-floor cupboards, walls, floors, bathroom fixtures, doors, electrical wiring and plumbing systems. Truly exceptional. With a 2 car garage, it sits on the channel feeding all-sports 250 acre Townline Lake. Perennially landscaped, it enjoys a 32 ft. boat dock, private deck, and endless opportunity to enjoy lake living. The modern guest cottage has a private deck, its own dock, and parking, a private entrance, downstairs queen bed, loft with twin beds, kitchenette, parking, full bath, comes furnished and turnkey, with a proven rental history. Outside, features a setting that is truly special. Two spacious waterfront lots are filled with colorful perennial gardens and lush greenery that create a peaceful, private retreat. Enjoy your morning coffee while listening to songbirds, spend afternoons watching wildlife throughout the property, and relax in the evenings as the channel provides a beautiful backdrop. It is one river bend from the lake - easy to enjoy everything Townline Lake has to offer. Properties offering two homes, waterfront living, established rental income, and this tranquil setting are exceptionally rare. Whether you're looking for a full-time residence, a seasonal getaway, or an investment with outstanding flexibility, this remarkable property offers a lifestyle that's difficult to find and impossible to duplicate.