Located in the heart of charming Smiths Falls, this exceptional duplex presents an incredible opportunity for investors, multi-generational living, or owner-occupants looking to offset their mortgage with rental income. Just steps from downtown shops, restaurants, parks, schools, and amenities, this centrally located property offers the perfect blend of convenience, flexibility, and long-term potential. The spacious front unit features an impressive two-storey layout with 3 large bedrooms and 1.5 bathrooms, offering the feel and function of a full family home. Bright, generous living spaces and a practical floor plan make this unit highly desirable for families or professional tenants alike. Following recent water damage, the front unit is undergoing a complete renovation beginning June 1st, giving the next owner the advantage of fresh, modern updates and increased rental value without the hassle of organizing the work themselves. Tucked privately at the rear of the property is a well-appointed two-storey 1-bedroom plus den unit, ideal for singles, couples, or a home office setup. The current tenants of this unit are moving out at the end of June, creating a fantastic opportunity to set your own rents, select new tenants, or occupy either unit yourself. Both units are fully self-contained and highly functional, each offering in-unit laundry, separate hydro meters, separate gas meters, and individual forced-air gas furnaces - a rare and valuable feature that keeps operating costs streamlined and tenant responsibilities clearly divided. Whether you're expanding your investment portfolio, entering the real estate market with income support, or searching for a versatile property in a growing community, this duplex checks all the boxes. Opportunities like this - with vacant possession potential, major renovations underway, and unbeatable walkability - are hard to find in today's market.