Waterfront Coastal Retreat with Income Potential in Hernando Beach! Welcome to this versatile 2-story coastal home situated right on an Intracoastal canal in desirable Hernando Beach! Offering breathtaking western exposures, this property delivers front-row seats to spectacular Florida sunsets over the water every single evening. Whether you are looking for a primary residence with an income-generating rental unit, a multi-generational living setup, or a dual-purpose vacation home, this property's flexible layout offers endless possibilities. Upstairs Main Residence (2 Bed / 1 Bath) Spacious Living: A bright and airy 2-bedroom, 1-bathroom layout with comfortable living spaces. Wrap-Around Deck: Step outside onto your expansive wrap-around deck overlooking the water-the ultimate spot for morning coffee, outdoor dining, and evening sunset watching. Part of the deck is covered and enclosed and part is open so you can take in the air and sights however you prefer. Enjoy complete privacy with its own dedicated staircase and entrance. Downstairs Studio Suite (Studio / 1 Bath) A private studio apartment featuring a full bathroom and a convenient kitchenette. Walk straight out to a ground-level patio right along the canal, perfect for waterfront lounging and entertaining. Independent access makes this space ideal for long-term tenants, short-term rentals, or visiting guests. Convenient laundry area located in the hallway off the garage bay, accessible from both units. Located in Hernando Beach with direct water access, close to local restaurants, marinas, and Gulf waters. Don't miss this rare waterfront gem with dual living spaces and unbeatable sunset views! Upstairs is currently leased with lease in place until the end of August 2027. Community has a boat lift for use.