Metaline is a rather small rural town in Pend Oreille County, Washington, with approximately 200 or so people. Most residences own their homes and due to the size of this town, tend to commute to nearby areas for work and recreational activities. Finding available residential land here is relatively easy when there’s a surplus of land for sale. Presently, however, there’s only one parcel of land for sale in Metaline. Thus, if you got your heart set on this rural town, then you should check out the current land plot for sale - Highway 31, Metaline, WA, 99152. Of course, before you purchase the only available parcel of land here, you should take the necessary steps to ensure this property is right for you.
This Highway 31 parcel is comprised of 10 acres of pristine Metaline land. Here, you will find a varied topography including, southern exposure, rolling / beaches, steep terrain, and sloped land. This 10-acre lot also has lush green pastures that overlook the Pend Oreille River, which is a great selling point for buyers and sellers. What’s more, prime river frontage equals convenient access for watersports and other recreational activities. Highway 31 also provides ample hunting, borders US National Forestry, and comes equipped with nearby utilities. Overall, this 10-acre lot is perfect for building a vacation home or adding a small hunting cabin / lodge. This Metaline property is also located within the Selkirk school district, which means you could even build a single-family home as well. The current price for these 10-acres is $42,500.
Now that you know what this available Metaline parcel has to offer, the next step in purchasing this property should involve some investigation work on your part. For instance, as a potential buyer, you need to evaluate the overall purchase. To assess the total investment, you need to look at the property’s ownership history, property taxes, usage restrictions, property survey, building requirements, road access, and any possible zoning/re-zoning issues. By doing so, you can make an informed land purchase and get a better idea of the cost associated with this property. Ultimately, this will ensure you stay within your budget, and allow for more clear-cut construction / residential building.
After your evaluation, it’s time to decide if you should pay cash for this available property or if you should secure other funding. Of course, if you have the funds available, purchasing land with money may save you a lot of time and effort. For starters, banks look at undeveloped or “raw land” as a risk investment, especially in comparison to already developed property. Thus, purchasing land with cash means you’ve cut out the middle man. Furthermore, paying cash means your only major expenses are the cost of construction, utilities, and property taxes. Alternatively, securing financing involves more research and the possibility of less funding due to the lender’s risk assessment. Ultimately, with borrowed funding, you will need to figure out which loan options are right for you (land/lot loans, conventional or owner financing).
Lastly, after you’ve purchased this Metaline property, you may feel it’s an either-or situation when it comes to making a profit or utilizing the land for your personal use. But the truth is, with so much acreage, you can make use of your estate while making a profit, especially if your property is already zoned for it. Moreover, you don’t have to lease out a portion of your acreage to see a return if you don’t want to; instead, you can improve on the property and hold long-term till the market allows for a lucrative return. Other available options worth considering include flipping the property or having the property re-zoned to its highest and best use.