Welcome to your Canyon Lake retreat! Truly two homes in one with breathtaking lake views. Nestled on a .35-acre lot shaded by mature oak trees, this beautifully maintained property offers flexibility, privacy, and exceptional investment potential. The main level lives as the primary residence, featuring 2 bedrooms, 1.5 bathrooms, and an open-concept design that maximizes natural light and captures stunning lake views through soaring ceilings and expansive windows. Laminate flooring and a wood-burning fireplace with blower fan create warmth and charm, while double doors lead to a spacious patio deck, the perfect place to relax and soak in the views. A dedicated laundry room sits conveniently off the kitchen. Connected by an interior spiral staircase, yet also accessible through its own private exterior entrance, the lower level functions as a fully self-contained second home. Complete with 2 bedrooms, 1 full bath, a full kitchen, dining area, living room, and its own laundry room, this space is ideal for multi-generational living, hosting guests, or generating income as a short-term rental. Outside, enjoy two separate driveways, including boat-friendly parking, front and back porches to capture lake views throughout the day, a storage shed, and a grassy yard perfect for relaxing or entertaining. With HOA amenities including tennis courts and a clubhouse, minimal restrictions, and short-term rentals allowed, this property offers both lifestyle and income potential, just minutes from the boat ramp, shopping, and dining. A rare opportunity to own a versatile lake-view property in one of Canyon Lake's most desirable areas.