Set just outside the city limits in Fredericksburg's ETJ, this versatile 4.1 acre property offers exceptional investment potential with two homes, a workshop, and scenic outdoor features; all just minutes from town, shopping, the hospital, and the area's renowned wineries. The main two-story home features 3 bedrooms, 2 bathrooms, an office, with a beautiful skylight in the kitchen. A cozy gas fireplace adds warmth to the living space, while a full basement, approximately the footprint of the home, provides abundant storage and easy access to plumbing and electrical systems. An attached two-car drive-through garage and circular driveway enhance both convenience and curb appeal. The second two-story home includes 2 bedrooms and 2 bathrooms, making it ideal for guests, extended family, or rental income. The property's natural setting is equally impressive, with a peaceful pond and small fishing dock, mature pecan and oak trees, and a striking magnolia tree that adds charm and shade. A large workshop with covered storage offers ample space for equipment, hobbies, or projects. Utilities include city water and sewer for the smaller home, and city water, two private wells, and a septic system for the main residence; delivering a unique blend of country living and city convenience. Located just outside Fredericksburg city limits, this property presents a rare opportunity for a B&B, wedding venue, business venture, or multi-generational living in one of the Hill Country's most desirable areas.