Income potential meets exceptional Whidbey Island living! Located in the sought-after Honeymoon Lake community, this rare property features a fully permitted daylight basement ADU with its own private entrance-an incredible opportunity for rental income, multi-generational living, long-term guests, or more. Whether you're looking to offset your mortgage or invest in a property with built-in flexibility, this home delivers. The main residence is filled with natural light and features hickory hardwood floors, stone countertops, and a bright, timeless interior. Enjoy peaceful wooded surroundings overlooking the lake and peekaboo bay views from the deck; the embodiment of Island Life. Thoughtfully maintained and truly move-in ready, the home also offers a recently installed 40-year roof and central A/C for lasting comfort and peace of mind. With four bedrooms, a dedicated office, and multiple flexible living spaces, there's plenty of room for today's evolving needs, future proofing this home for generations to come. Residents of Honeymoon Lake enjoy an outstanding collection of amenities, including a private beach, dock, stocked fishing lake, swimming pool, and clubhouse-adding even more value. Whether you're seeking a primary residence with supplemental income, an investment opportunity, or a home that offers unmatched flexibility, this property checks every box. The neighboring lot is also available for purchase (MLS #2555843), don't miss this rare and exciting opportunity!