Take away the +1 to an ability score and lip-reading. The character simply gets a +5 bonus to passive perception (not investigation) and advantage on active perception checks.
If I am understanding your suggestion correctly, That would not be worthy of a feat...
+5 to passive perception is what you get if you have advantage on active perception. So really what the feat would give you, the way I understand what you wrote, is simply advantage on perception checks.
Advantage on perception checks is somewhat easy to get ( using inspiration, some spells, or simply getting an ally to aid you)
