Back on the market and priced below appraisal, offering immediate equity potential for the next owner. Situated on Fort Loudoun Lake in Lenoir City, this waterfront property presents a rare opportunity for investors, renovators, or buyers seeking to create a custom lakefront retreat in an area where surrounding homes approach the $1M price point. The home offers a traditional floor plan with 2 bedrooms and 2 bathrooms on the main level, along with a sunroom and flexible bonus space off the kitchen. The walk-out basement includes an additional bedroom, full bathroom, bonus room, family room, and attached workshop--providing ample space for expansion, entertaining, or value-add improvements. Outdoor living is centered around the lake lifestyle, featuring a screened-in porch with hot tub just steps from the private boat dock and slip. Scenic farmland views across the street create a peaceful backdrop while remaining only minutes from Fort Loudoun Marina for boating, dining, and lake amenities. Whether you're searching for a full-time residence, second home, or investment property with upside potential, this Fort Loudoun Lake property offers location, waterfront access, and opportunity in one of East Tennessee's most desirable lake communities.