Gulf access, rental income, and the colorful charm of Matlacha-all in one property. This updated duplex features two 1-bedroom, 1-bath units just steps from the island's shops, galleries, and restaurants. One unit currently has an annual tenant, while the other operates as a vacation rental, offering flexibility for an investor or an owner who wants to live in one side and rent the other. Both units feature stainless steel appliances, tile flooring throughout, and freshly painted interiors. The entire duplex underwent mitigation and updates in 2024. Side A features concrete or Durock wall surfaces, while Side B features fiber-cement board along the lower four feet of the walls. Side B has been used as a successful vacation rental for many years and has excellent reviews online with many renters returning to visit the island year after year. A private dock and Gulf access make it easy to enjoy the surrounding waterways, with a community boat ramp providing additional boating convenience. Whether you're looking for an income-producing property, an island getaway, or a combination of both, this Matlacha duplex offers a compelling opportunity to make waterfront ownership work for you. Seller willing to offer financing to well qualified buyers.