Enjoy the good life on the shores of the Nomini Bay.

This week's featured listing is a bit of a handyman's special, with a price tag to match. Built in 1848, this classic Colonial is a gracious home on a breathtaking piece of land.

Listed for just $599,900 by Carter Braxton Preferred Properties, this 5-bedroom, 2-bath home is quite a bargain with its 3.92 acres facing the bay. It has a stand-alone 2-car garage and its own wooden dock.

Just look at the view from the living room. No artwork could rival it! All you'd have to do is polish up those floors and update those windows a bit. The pass-through window to the kitchen could also be expanded to create a breakfast bar.

With the money you'd save, you could easily modernize the kitchen, but how great is that retro fridge? You have all the basics you'd need, so you can take your time to get any upgrades done just right.

Upstairs, some of the bedrooms make the most of the incomparable view. There's even a quirky loft on the top story!

Out back, a sizable deck is perfect for dining al fresco or cooking out with a prime view of the water. Have a stone grilling deck put in at its base and you're good to go.

This week's dream home is located at 606 Beales Wharf Road in Montross, Virginia. The surrounding acreage is also available for sale, in 16 separate lots totalling 127 acres. For more information, or to schedule a tour of the property, check out the original listing.

**The photos in this article are courtesy of Carter Braxton Preferred Properties.

How would you make the most of this modest waterfront home? Put in formal gardens or maybe a cherry orchard? Convert the garage into a guest house? Let us know in the comments!