Fully renovated Perdido Key property offering flexible living space and excellent rental potential on Innerarity Point. This unique home provides approximately 2,300 square feet with 5 bedrooms and 3 bathrooms, making it ideal as a full-time residence, vacation home, or income-producing investment. The upper level (1,384 sq ft) features 3 bedrooms, 2 bathrooms, a bright living area, dining space, full kitchen, and laundry. The lower level (920 sq ft) offers its own private entrance, driveway, and fenced yard, along with 2 bedrooms, 1 bathroom, a full kitchen, living room, and laundry room. The layout allows owners to live in one level while renting the other, accommodate extended family, or rent both levels for short-term income. The home has been completely renovated from top to bottom, including new Hardie siding, new roof, new windows and doors with fabric hurricane shutters, new HVAC systems, luxury vinyl plank flooring, fresh interior and exterior paint, interior doors and trim, solid wood cabinetry with soft-close doors, quartzite countertops, and KitchenAid appliances in the upper kitchen. Exterior features include a fenced backyard, one-car garage, large driveway, and a 20x40 workshop/boat garage with plenty of space for your boat and coastal gear. The property sits across the street from public Intracoastal Waterway access and approximately half a mile from Galvez Landing Boat Ramp and Innerarity Point Park. Popular Perdido Key restaurants including Hub Stacy’s, Fisherman’s Corner, Bushwacker’s Landing, The Point Restaurant, and Salty Pearl Raw Bar are all nearby, along with Publix, Ace Hardware, fishing charters, and a local seafood market. The white sand beaches of Perdido Key are just across the bridge, and the property is not located in a flood zone. This is a rare Innerarity Point opportunity offering versatility, location, and strong investment potential.