Welcome to 125 Water Street a spacious 1850 Greek Revival Farmhouse in the heart of Franklin, NY, where the charm of small-town living meets big potential. Located on a quiet corner lot just steps from the Franklin Stage Company, parks, shops, and the town pool, this property is ideally situated within a village undergoing an exciting transformation fueled by incoming creative endeavors and a newly awarded Main Street revitalization grant. A renovation on the home has started with the heavy lifting already done: a solid foundation, upgraded electric and plumbing, new insulation, and water systems are in place. What remains is a unique opportunity to finish the renovation with your own vision and style. Period woodwork and architectural details remain intact, offering warmth and texture that's hard to replicate. The front of the home has a large kitchen and dining area that has a door to the wrap around porch. There are two large living spaces on this level, and a large architectural staircase leads up to the second floor primary. In the rear of the home, a massive garage/studio offers endless possibilities tall enough for an RV, boat, diesel truck, or even multiple vehicles. With flexible zoning and ample square footage, the unfinished portion of the home also presents the potential to add 2-4 separate apartments ideal for rental income, extended family, a massive creative studio, or a live/work compound. Franklin is a picturesque and quietly buzzing village surrounded by the rolling hills of the western Catskills. If you're looking for a spacious home with room to dream, design, and grow 125 Water Street is ready to become your next chapter. Minutes to Oneonta, Cooperstown All Star Village, 1 hr 15 minutes to ski resorts and 3 hrs 15 mins to NYC. The property is being sold, as-is.