Tucked into the heart of Milford Bay, this waterfront property offers the kind of versatility that's hard to find. Whether you're looking for a year-round home, a seasonal cottage, or an income-generating investment, this one checks all the boxes. Set on the iconic Lake Muskoka, this 4-bedroom, 2-bathroom home offers space, sunlight, and serious potential. With three separate entrances, there's flexibility to create multiple self-contained units ideal for long-term rentals, Airbnb, or even a home-based business (thanks to the accommodating zoning). The upper level has been tastefully renovated within the last three years, while a spacious lower addition was completed in 2020, adding even more functionality to the layout. Outside, the lot offers western exposure, giving you full-day sun and golden-hour views that never get old. The property also includes a boathouse with potential for a single-slip setup, and dock space perfect for anyone looking to offer mainland water access or add to the rental appeal. Location-wise, Milford Bay hits the sweet spot. You're just 10 minutes from Port Carling or Bracebridge by car or 20 minutes by boat. The area is rich with lifestyle perks: golf courses, a public beach, marina, community center, endless trails, and the popular Huckleberry Rock Lookout are all just around the corner. Families will appreciate the convenient school bus route making everyday life just that much easier. Connected to the Big 3 lake chain, surrounded by natural beauty, and full of opportunity this property offers more than just a place to live. It's a lifestyle with built-in potential for families, cottagers, and entrepreneurs alike.