Rare South Fallsburg Main Street investment opportunity, ideally offered together with adjoining 5033 Main Street. Sitting on approximately 0.70 acres, this property features flexible B3 zoning with potential for residential, commercial, mixed-use, mobile-home-related uses, and other future-use possibilities, all subject to municipal approvals. This zoning creates strong long-term potential for investors, owner-users, builders, or buyers seeking a well-located Main Street property with income and future upside. The property includes three residential structures: a primary two-unit home with main and lower-level units, plus an additional renovated bungalow/cottage. Current rent is approximately $4,000/month with possible upside. The main unit was recently painted and had basic updates, offering kitchen, dining area, living area, 3 bedrooms on one floor, plus a staircase to a spacious attic room. The lower-level unit was completely renovated recently and is in beautiful, like-new condition, featuring porcelain tile flooring throughout, a new kitchen, spacious rooms, and 2 bathrooms. The rear bungalow/cottage was also renovated and includes a new kitchen. Recent improvements include a brand-new septic system, new fence, and swing set/playground area. Prime location near Main Street amenities, seasonal communities, bungalow colonies, camps, resorts and other nearby attractions. Adjoining 5033 Main Street MLS#000029 is also available and ideally offered together with this property, creating a larger Main Street package totaling approximately 1.46 acres with approximately $6,000/month in combined reported rental income. Buyer to verify zoning, permitted uses, COs, legal unit count, rents, leases, square footage, taxes, septic, utilities, and municipal requirements.