What makes a good land deal?

[Nick J.]

I had a seller call me about a parcel of land, I've never done a land deal and don't really plan on becoming a land investor, so I thought I'd ask. He's selling it for 70k, tax assessor says the land value for 2010 is 128k. It's in a neighborhood surrounded by million dollar homes.

anything about that sound like it would be worth optioning him for and assigning it for a few bucks?