109 E College captures everything buyers love about Fredericksburg: charm, flexibility and spaces designed for gathering and unwinding. Currently operating as a successful short-term rental, this thoughtfully updated 2 bedroom, 2 bath home with separate guest house, blends historic character with modern improvements all just minutes from Main Street's restaurants, shopping, wineries and entertainment. Inside, warm hardwood floors, updated bathrooms and a refreshed kitchen create spaces that feel welcoming, comfortable, and intentionally designed for both everyday living and memorable guest stays. Recent upgrades include fresh interior paint throughout, updated lighting and ceiling fans, refinished kitchen cabinetry, leathered quartz countertops, new hardware, smart locks and a brand-new HVAC system installed in January 2026. The outdoor spaces were completely reimagined with entertaining and low-maintenance living in mind. Extensive landscaping improvements include decomposed granite grounds, updated drainage, turf, a custom putting green, fresh plantings, a heated cowboy pool and multiple gathering areas that invite guests to linger long after sunset. Stone patios, fire pit seating, game areas and charming outdoor dining spaces create the kind of experience visitors come to Fredericksburg seeking. Adding exceptional versatility is the renovated guest suite featuring its own private entrance, living space, kitchenette, and bath. Completed through the City of Fredericksburg and Historic District approval process, the additional space is ideally suited for private owner's quarters or a long-term rental opportunity, offering flexibility and supplemental income potential. The guest suite/converted garage is not approved for short-term rental use. With more than $70K in recent improvements. Proven short-term rental appeal, and an unbeatable in-town location, 109 E College offers an outstanding combination of investment potential, lifestyle flexibility, and authentic Hill Country charm.