Two living spaces, one incredible opportunity, and a location that's hard to beat! Welcome to 21 Waumbeck Road in Wolfeboro, where income potential meets endless possibilities just 2 miles from downtown and beautiful Lake Winnipesaukee! Situated on a level, one-acre lot, this spacious two-family property offers the flexibility to live in one unit while renting the other, accommodate extended family, or add to your investment portfolio. The updated second-floor apartment features two bedrooms, a private entrance, new windows, hardwood and tile flooring, a mini-split system. Downstairs, discover generous living space with vaulted ceilings, three spacious bedrooms, first-floor laundry, an updated bathroom, and plenty of opportunity to make it your own! A stunning primary bedroom accented by pine V-groove walls and exposed hemlock beams. Recent improvements include foundation perimeter drainage, updated finishes, and more. Outside, enjoy a sprawling, level backyard surrounded by mature trees, a 12' x 16' storage shed, and plenty of room for gardens, entertaining, or outdoor activities. With renovations underway, this property is being sold as-is, offering the perfect opportunity to build equity while creating something special. Minutes from Wolfeboro's charming shops, restaurants, schools, and year-round recreation, this isn't just a home with potential. It's an opportunity with options!