Rare Lake Stevens development & investment opportunity! An existing home with substantial unfinished space and multiple potential development paths makes this property especially compelling. The 2004-built home features a new roof installed in 2024, an open main living area, primary and guest bedrooms on the main level, and an additional bedroom and bath downstairs. More value potential available in easy home updates. Approximately 1,200 sq ft of unfinished daylight basement provides an opportunity to expand the home's finished living space and/or potentially create ADU space. The property also offers potential for additional development, including a single-family residence, detached ADU or duplex. A large waterproof deck provides covered outdoor space below, and a separate sun/potting room adds even more versatility. Tucked away beside Catherine Creek with mature vegetation and exceptional privacy, this property offers a unique combination of an existing residence, expansion potential and future development possibilities.