Based on Comps, Is This A Good Investment for Wholesaling?

[Nigel Witherspoon]

I have a seller who want's to sell the land for 20K or above. When I ran the real comps (not the one you are seeing from Zillow), the land is appraised at 10,500 from 2017. The homes (as pictured below) are going for 250K and above (this counts for an actual CMA that I ran as well). The goal is to sell the contract to an infill developer who would then build on the land. The street that the land is in is VERY old and undeveloped as these homes have been sitting in families for generations. The crime rate is very low and this generalized area is a wealthier side of where I invest. The street hasn't been developed YET, but I'm wondering if putting a brand new home in the area would spark the development of renovations for the surrounding homes on the street.

Based on his wanting price for 20K (not including the assignment fee), the high homes comps, and the cost of building a new home there, would this be a bad deal to get into? Especially since the homes comps are very high.