197 SHREVEPORT Street Properties like this rarely come available on Lake O' The Pines. Tucked away in the highly sought-after Johnson Creek area, this exceptional waterfront retreat offers the perfect blend of privacy, versatility, and income potential with TWO separate residences on one beautifully improved property. Whether you're searching for a multi-generational family compound, a weekend lake retreat, a retirement setup with space for loved ones, or an investment opportunity for short-term rentals, this property checks every box. The primary residence has been extensively updated over the last two years with a new metal roof, new siding with moisture barrier, dual-pane windows, premium flooring throughout, remodeled bathrooms, updated HVAC components, seamless gutters with leaf guards, fresh exterior paint, and numerous additional improvements. The detached cottage, completed in 2025, offers approximately 986 square feet of independent living space complete with its own driveway, aerobic septic system, water, power, automatic sprinkler system, and extensive site preparation. Over $30, 000 was invested in professional excavation, retaining walls, and drainage improvements, creating a separate and functional living environment ideal for guests, extended family, or rental income. Outdoor amenities are equally impressive. Enjoy direct waterfront access with an 88-foot boat dock, a large RV, multiple outbuildings, a spacious shop featuring an EF5-rated tornado shelter, remote electric gated entry, and a private well in addition to city water service. Surrounded beautifully maintained grounds, this one-of-a-kind waterfront estate provides the rare opportunity to own a true family compound on one of East Texas' most desirable lakes. Properties offering two homes, waterfront access, extensive improvements, and income-producing potential are nearly impossible to find. Schedule your private showing today and experience everything this remarkable Lake O' The Pines property has to offer.