507 Cora Three blocks from Main Street in Fredericksburg's Historic District is the kind of address people spend years waiting for - and this one comes with a guest house. Walkable to Fredericksburg's wine tasting rooms, restaurants, boutique shops, live music venues, and galleries, the location alone sets this property apart. But the house earns it. Inside, tall ceilings, hardwood floors, and large black-framed windows give the main house a clean, modern Hill Country feel without losing the character you'd expect from the Historic District. The primary bath features quality fixtures and custom tile work. The secondary bath is the showstopper - a walk-in shower with arched custom tile work that's worth a second look. Out back, a detached guest house sits in its own fenced yard shaded by mature trees. It has a full living area, kitchenette, private bedroom, and finished bath - the kind of flexible space that works as a guest suite, home office, studio, or rental unit. The main house currently holds an active Fredericksburg STR permit, making this a strong candidate for a vacation rental, short-term rental investment, or Hill Country second home. Buyers should verify permit transferability with the city. The outdoor living spaces - covered back porch, oversized deck, and a private courtyard with a fire feature - are a genuine surprise for a property this close to downtown Fredericksburg. The property is also available for long-term lease at $6, 000 per month for those not ready to buy but looking to put down roots in the heart of Fredericksburg. Whether you're searching for a Fredericksburg home in the Historic District, a Texas Hill Country vacation property, or an income-producing STR investment, this one checks every box.