Now offered at $61,000 below the appraised value of $900,000, this exceptional waterfront home presents an outstanding opportunity to own in the highly sought-after boating community of Captain's Cove on Pine Island. As the only waterfront property currently available in this price range, it offers an unmatched combination of value, location, and direct Gulf access. Situated on the widest canal in Bokeelia, this elevated stilt home provides immediate, no-bridge access to Jug Creek in approximately one minute, with direct boating to Pine Island Sound, Charlotte Harbor, Boca Grande Pass, and the Gulf of Mexico. The upper level features an open, light-filled floor plan with three bedrooms, a den, two full bathrooms, and spacious living, dining, and kitchen areas that open to a large rear deck overlooking the canal—perfect for entertaining or enjoying breathtaking sunsets. The updated kitchen includes brand new 2025 appliances, including the refrigerator, range, microwave, and dishwasher. The lower level offers incredible flexibility with its own private entrance, full kitchen, living area, bedroom, full bath, laundry room, enclosed patio, workshop with sliding barn doors, and abundant storage. Ideal for guests, extended family, a home office, or potential rental opportunities. Designed for the waterfront lifestyle, the private dock features a 10,000-pound boat lift with a Coastline Boat Lift Covers steel-framed canopy, blue dock lighting, and a KayaArm kayak launch system. The property also offers ample space for vehicles, an RV, boat trailer, and recreational equipment, along with an oversized 80' x 20' limestone driveway with professional underlayment and mature clusia privacy hedges. Over $100,000 in recent improvements include more than 60 clusia privacy plants, hibiscus landscaping, a producing navel orange tree, screened rear porch, enclosed carport conversion with future living potential, granite walkways with custom edging, decorative shutters, lighthouse mailbox, remodeled upstairs bathroom, and a newer upstairs A/C system with updated ductwork. Combining immediate Gulf access, one of Pine Island's widest canals, flexible living space, and extensive upgrades, this move-in-ready home offers an exceptional opportunity to enjoy the Southwest Florida waterfront lifestyle.