Priced Below Assessed Value! Rare opportunity to own nearly 2 acres within the Port Townsend city limits with excellent investment and equestrian potential. Surrounded by established horse properties & stables, this property offers a unique opportunity for those looking for space for horses, animals, gardening, hobbies, or future improvements while still being close to town. This home includes a bonus suite with a separate entrance offering flexibility for guests, extended living, workspace, or potential rental use. With your TLC his property also provides an opportunity to build equity & create a property tailored to your vision. South-facing windows and the back deck take advantage of peaceful territorial views overlooking mature trees, mountains, and surrounding farmland. Featuring a detached shop with wood stove, an approximately 800 sq ft open barn/carport & fenced pasture, offering plenty of possibilities for storage, animals, equipment, hobbies or other uses. Zoned R-II (SF), the property's nearly 2-acre setting within the city limits offers an uncommon combination of land and convenience. Buyers should verify development, zoning & permitted uses with the City of P.T. Close to shopping, dining, services, and amenities. Private financing may be available to qualified buyers—ask for details. Whether you're looking for an investment opportunity, an equestrian property, or a home with room to create something special, this property offers tremendous potential.