An incredibly RARE OPPORTUNITY on one of Fairfield's most coveted streets in the sought-after beach area! Just a few homes from the beach, this FEMA-compliant 3-bedroom, 2-bath cottage was completely rebuilt/renovated in 2013 and offers the perfect combination of coastal living, investment potential, and future possibilities. Enjoy the home as your own beach retreat while generating exceptional income from its established academic rental (leased for the 2026-2027 school year). Also explore the potential for lucrative summer rentals or year-round income while planning a future custom home, taking advantage of the existing raised foundation, decreasing building costs. Whether you're seeking a personal getaway, an income-producing property, or a long-term investment, this home offers unmatched flexibility. The deep backyard overlooks the marsh, providing added privacy, and features a garage, storage sheds, and a spacious covered loggia beneath the home, ideal for entertaining, recreation, parking, or additional storage. Located just steps from the beach, town center, restaurants, shops & train, the property also includes private association beach access. Features include new heating/AC (2013), tankless water heater, foam insulation, and new electrical and plumbing. A truly unique opportunity to enjoy the Fairfield shoreline lifestyle today while building equity and exploring future possibilities in one of the area's most desirable coastal neighborhoods.