Land with Home for Sale in Coeur d'Alene, Idaho

Price Improved -- Two dwellings on 4.87 wooded acres with mountain views in the sought-after Cougar Gulch area, approximately 10 minutes from downtown Coeur d'Alene. Acreage properties offering privacy, multiple living spaces, and proximity to town are becoming increasingly difficult to find. The layout works well for multi-generational living, guest accommodations, or buyers seeking to create equity through renovation. The property includes a 1,824 sq ft main home and a separate 990 sq ft guest house with office space, providing natural separation for extended living, workspace, or potential rental use. This configuration also presents a strong opportunity for short-term rental or hybrid use, allowing an owner to occupy one residence while generating income from the other, or create a private compound-style setup. An unfinished loft above the garage adds flexibility for a future bedroom, studio, or additional living space. Engineering and architectural plans are already completed to reconfigure the stair layout and open the kitchen, giving the next owner a defined path to modernize the main home and unlock additional value. The county assessor currently values the property at $960,000, highlighting the potential value gap between the current opportunity price and stabilized value once improvements are completed. A contractor repair estimate is available to help buyers better understand the scope of improvements. The property is served by a private well with pump house, 3,000-gallon water storage, and deeded access to a spring. Quiet wooded setting offering privacy and space while remaining minutes from downtown Coeur d'Alene, shopping, dining, and lake access. The main home has completed professional water remediation by Allklean with the source corrected. Interior sheetrock and flooring were removed approximately two feet as part of the remediation process, creating a defined starting point for renovation.