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.