Rare investment opportunity. This well-maintained multi-family property features two existing homes on a level 0.20-acre, fully fenced and gated lot zoned R3-MH, allowing up to three homes on the property. Potential rental income is $2,200 per month, making this an excellent investment or owner-occupant opportunity. The beautifully landscaped property offers mature shade trees, meadow views, low maintenance, and a quiet neighborhood just minutes from downtown, schools, shopping, and restaurants. The Main House, currently rented, offers approximately 640 sq. ft. of living space plus 225 sq. ft. of screened in and covered porches. This cabin was built to thoughtfully integrated into 2 large slab and stick built additions for a bedroom and living room, a pristine original insulated four-season Liberty Coach Company, Inc, Spence Craft 1957 Mobile Home (approximately 284 sq. ft.) manufactured in Bremen Indiana by Craftsmen home builders. It features a bright eat-in kitchen, full bath, spacious living room, large bedroom with built-in wardrobe and drawers, full bath, inside laundry, and beautiful meadow views. Recent upgrades include two mini-split systems, a central propane furnace, hot water heater, and an airtight wood-burning stove. The Guest House/Studio is a stick-built approximately 240 sq. ft. completely remodeled in 2023. It features wood flooring, a new kitchenette and living area, a bedroom large enough for a queen-size bed, bath, mini-split heating and cooling system, a 15-gallon hot water heater, abundant natural light, and peaceful meadow views. Both homes live much larger than their square footage suggests. Whether you're looking for rental income, multi-generational living, or future development potential, this unique property offers exceptional value. Come experience this charming property tucked away on a quiet, tree-lined street in one of downtown Payson's most desirable neighborhoods.