Exceptional income-producing opportunity in Peterborough's desirable north end! This fully updated all-brick bungalow features a legal secondary suite, making it an ideal turnkey investment or an excellent option for buyers looking to significantly offset their mortgage with rental income. The main level offers a bright and modern 3-bedroom layout with beautiful hardwood flooring throughout, an updated kitchen featuring quartz countertops and contemporary cabinetry, and an inviting living space. The professionally constructed legal lower-level apartment offers a completely self-contained 2-bedroom suite with its own private entrance, full kitchen, bathroom, and spacious living area. Built with permits and city approval, this legal unit provides peace of mind and outstanding long-term income potential. Major mechanical updates include a newer furnace and central air (2018), on-demand hot water, electrical upgrades, tiled entryways and laundry area, and quality finish updates throughout, making this a true move-in-ready property. Located just off Chemong Road, this property is close to shopping, restaurants, schools, parks, and everyday amenities, while being situated directly on a city bus route, a major advantage for tenants, including students attending Trent University and Fleming College. Whether you're building your investment portfolio, or seeking a property with excellent cash flow potential, this two unit home offers the versatility, location, and strong income fundamentals that today's buyers are looking for.