Tucked away on the water at Hallowell Mills Cove, this rare 4.7 acre holding offers a combination of land, location, and legacy that is seldom available in Prince Edward County. With direct waterfront, dramatic natural features, and immediate proximity to the Picton Golf & Country Club, the property delivers both privacy and connection in equal measure. The landscape is defined by movement and sound, as two waterfalls cross the site- one carving a deep rock gorge, the other flowing gently toward the cove. Spread across the grounds are several distinct structures, creating a compound-like setting with flexibility for personal use, guest accommodation, or future planning. At the center of the property is a five-bedroom, 2.5 bath residence filled with authentic character, including wide pine floors and striking ceiling heights throughout. Nearby, a substantial three-story boathouse- originally designed to accommodate large yachts - has been partially reimagined as a refined one-bedroom suite finished in rich rosewood and positioned directly over the water. A separate winterized cabin adds yet another layer of versatility. Anchoring the site is the original mill infrastructure, a visible reminder of the property's role in the area's early industrial history, where water power once supported both grist and lumber operations. Whether envisioned as a private waterfront retreat, a multi-use family compound, or a long-term investment in a rapidly envolving area of Picton, this is a property defined by scale, setting, and opportunity.