Unlock the development potential of this 5-acre parcel located in the peaceful Lyman area on the southeast outskirts of Rexburg. Surrounded by open farmland and just 2.5 miles from the Snake River, this property offers a rare opportunity for small-scale development, a multi-home family compound, or country living with room to grow. Up to 3 lot splits are available (see preliminary parcel map for example on lot split potential), providing flexibility for builders or investors looking to maximize the land’s potential. The seller will install a driveway entrance, at seller's cost up to 275 ft as part of the transaction. See attached document for driveway ideas. The property includes valuable water rights, a flood irrigation system, and is bordered by a ditch on two sides, making it well-suited for agricultural use or rural living. Livestock is permitted, and there are no covenants or restrictions (CC&Rs), allowing you to develop without limitations. Great access, and the location provides a quiet rural setting while remaining conveniently close to town. Whether you're a builder, investor, or someone looking for open space, this is a great opportunity in one of southeast Idaho’s desirable countryside areas.