Mallet's Bay Lakefront Year Round Home This Mallet s Bay lakefront bungalow has loads of potential at a great price. 28 year lease is the most affordable in Colchester with some of the best lease terms. Investors take note, this property is a true money maker and the owner says bring all offers. Owner financing available!! Charming 3 bedrooms with loft and beautiful sandy beach with mooring rights makes this a perfect primary residence or vacation home.