With $250,000 investment you could have $1.5 million home! Price reflects need for boathouse, dock, retaining wall repairs or replacements, as well as interior and exterior updating. Waterfront home sitting on one of the largest waterfront lots (.5 ac above 355 elev, .73 ac to water) in Emerald Bay. Large kitchen with island, breakfast bar and butler's pantry. Downstairs offers a second large living room with wood burning fireplace, two more bedrooms and hall bath. Updates include roof in 2013. sprinkler system controls 2021, main floor HVAC system 2021, lift station pump 2022. Exterior brick ledge repaired and re-bricked along garage and front. Emerald Bay Resort offers controlled access security gated entrance, member only golf course, plus practice area with driving range, dining and club facilities, pro shop, community church, community playground, picnic area and boat launch. Initiation fee of $18,737.50 includes tax and $2000 initiation fee for MUD. $352.11 monthly HOA fee.