New Construction opportunity - need advice

[Lafi S.]

I thought I can share the details of a deal I came across in hopes anyone can point me in the right direction. I have NO experience in building so my main concern is what it's going to cost to build from the ground up.

So the asking price is $295,000(negotiable) on .43 acres. It's a 86 x 240 lot and zoned for a Single Family. The only thing I do know is that the next door lot was in a similar situation in 2011. The land was purchased for 280,000 and the developer put up a 5 bed 3.1 bath which sold for $640,000 with 60DOM. Although this lot was on .47 acres.

All I'm trying to figure it out is what the costs would be in between the expected resale and the purchase price.

Any advice is appreciated...