Positioned just one block from the Rappahannock River, steps from the Gari Melchers Home and Studio at Belmont, and a 10-minute walk to Falmouth Beach, 125 Washington St offers a rare blend of historic charm and modern lifestyle. Located five minutes from I-95 and minutes from historic downtown Fredericksburg, this home features original oak hardwood floors, two main-level bedrooms, an updated full bath, a connecting deck, a private backyard, and a dedicated driveway. The property also includes a standalone 16' x 24' detached workshop and storage building...ideal for hobbies, projects, or additional storage. Whether you are searching for a charming, cozy primary residence or an adaptable layout with a mother-in-law suite, the main floor provides complete single-level living convenience in a high-demand location. For the strategic investor, this turn-key property represents a proven dual-income engine with high-leverage tax advantages. The main level currently operates as a high-performing short-term rental commanding over $3,000 per month, while the fully finished lower-level studio suite features its own separate entrance, full kitchen, full bath, and private bottom patio...allowing for independent rental streams or an optimized owner-occupant house-hack model. Acquiring this income-producing asset before year-end provides a prime opportunity to capitalize on accelerated bonus depreciation, offsetting passive income while building long-term equity in a high-demand Fredericksburg corridor. Home is being sold fully furnished as well!