New Haven Wholesale - Listing

[Jamie Ginsburg]

Hello BP members. I am new to investing and was hoping to get some advice for a specific deal I am working on here in New Haven,CT. 

The property is a two floor, 3 bedroom, single family home that was built in 2005 in the hill area of New Haven. It needs to sell for 150k. The home that was on the previously on the property and demo'd was a two family. It's on a lot size that allows a three family ( I confirmed this with building dept). The closest comps for three families are about 15 yrs older and 330-340k

The previous owner got a grant from the city from the Livable City Initiative for the construction and that put a UDAG deed restriction on the property. The restriction is in place until 2025 and states the property has to be owner occupant. 

Is this a property that an investor or developer would want to build on or is the deed restriction too much of a hassle?

Thank you for any advice/thoughts in advance!