Found a vacant lot I am interested in, is it any good?

[Yeisly Perez]

My name is Yeisly Perez and I am a first time investor in real estate (or otherwise). I was looking around my area for good deals and found a vacant lot, about a quarter acre, in a decent neighborhood that seems like a good choice for building an investment property. I looked at other houses in that area and found they are renting for about $1,500 and could probably build either a single family or a multifamily home in the space for roughly $300,000. The quarter acre lot is going for $9,900 and I wanted some advice on whether or not this is a good deal or any suggestions on what I should offer on it?