Versatile, income-producing opportunity in the heart of the Penrose neighborhood! This unique property offers a rare zoning variance allowing a daycare for up to 18 children on the main level, making it ideal for an owner-operator, entrepreneur, or investor seeking flexible use and strong upside. The upper unit already has a tenant in place, providing immediate rental income—perfect for an investor or a savvy buyer looking to house-hack by living on-site while offsetting expenses. Whether you envision running a daycare below, adding another rental, or creating a live/work setup, the possibilities are exponential. Situated on a quieter one-way street, the home features a fenced-in yard ideal for outdoor play or private enjoyment, plus a garage accessed from the rear alley for convenient off-street parking and storage. The layout and exterior setup support both residential comfort and business functionality. Located in the Penrose neighborhood, this property enjoys close proximity to public transportation, including multiple bus routes, making commuting and accessibility easy for residents, tenants, employees, or daycare families. Outdoor and community amenities are a standout, including Penrose Park, WC Handy Park, and Tink Bradley Playground, all offering green space, play areas, and neighborhood gathering spots. Nearby community gardens add to the strong sense of local connection and provide opportunities for gardening, wellness, and neighborhood engagement. Just minutes away, Fairground Park expands recreational options with lakes, trails, and expansive open green space. The area also benefits from quick access to I-70, I-55, and downtown St. Louis, placing major employment centers, hospitals, and educational institutions within easy reach. Neighborhood conveniences include local schools, community centers, churches, and everyday retail, with additional shopping and dining options a short drive away. Whether you’re an investor seeking steady cash flow, a buyer looking to live affordably while generating income, or someone ready to operate a licensed daycare, 4655 Farlin Avenue delivers flexibility, community connection, and opportunity in a well-established North St. Louis neighborhood.