Direct Mail to 300 people...Thoughts

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Good morning, 

After months of sitting on the sidelines and learning I am about to get started with Direct Mail to Absentee owners. Below is my criteria which has pulled about 300 addresses for a 5 mile radius around my zip code. Do you think this is to small of a list to get one deal? Its only a 5 mile radius and I will mail to the consistently over the next 6 moths (5-7 mailings). 

Criteria:

• Zip 01501 +5 miles
• Minimum of 40% equity
• Minimum of 30k equity
• SFR with Minimum of 3 Beds
• Exclude Trustee and Corporate 
• Absentee in and out of state

Should I pull the trigger and try to get my first deal?