Should I buy this parcel of land just because I can afford to?

[Timothy Metra]

There's a parcel of land in an area of town that is on the lower end of the city, but the marketability is starting to expand outwards towards the parcel. Houses in this area sell for about $50 - $60k. "C" rated area.

0.25 acres for $3,000. Seems like a good investment for me to buy and just hold onto, but not sure if I should play the appreciation game. I can afford a $3,000 loss, if that helps you understand my situation a little better.

Also in the process of saving capital for my business ventures, though. A buddy told me about the land in a conversation, so I was just looking a little into it.