A four-bedroom, two-bathroom waterfront home in south Freeport village with three income-producing boat slips is on the market for $399,000.

An outside slip accommodates a 38-foot vessel with a 15-foot beam, a middle slip fits up to a 25-foot vessel, and an inside slip is large enough for a 28-foot vessel. Each slip has been earning anywhere from $1,500 to $2,000 each summer.

Updates have been made throughout the home. It features a new roof, heating system and low-maintenance outdoor landscaping.

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The second story's kitchen opens onto a new Trex deck, with tranquil water views for warm weather entertaining and barbecues.

"It is within walking distance to Nautical Mile, which offers many dining options as well as live entertainment," says Jeannemarie Anzelone of Above Board Real Estate, the listing agent.