Updated historic cottage offers a walkable location adjacent to protected greenspace on a quiet cul-de-sac and yet steps from vibrant downtown Fairhope. This 2BD/1BA long-term rental property offers immediate income producing potential and/or a unique site for a future build. Step inside and discover the thoughtfully remodeled interior with vaulted ceilings and an open floorplan with a free-standing fireplace -- perfect for both daily living and entertaining. The bathroom plumbing, all flooring, countertops and appliances were replaced in 2020. New HVAC and grinder pump were installed in 2019. While the home is appealing, the outstanding feature of this offering is the property on which it sits. The generously sized lot borders the undeveloped city park land of historic Bayou Charbon (aka Big Mouth Gully) and provides an ideal spot for a custom residence tailored and built to any Buyer's individual preferences. If owner occupancy is of interest, there is an existing clause in the current lease allowing for Tenant's removal with due notice. However you choose to proceed, don't miss this rare opportunity to be a part of this award-winning community. Also available for purchase is the adjacent property, 517 Equality Ave. (MLS#356550). Make this charming property yours and the possibilities are unlimited.