Help Me Negotiate This Duplex! In Realtime!
I am negotiating for a duplex in the Southside neighborhood of Pittsburgh which was originally listed at $325K. I own a comparable property 9 blocks away from this one which I closed on for $240.5K in Nov of '14. The duplex brings in $2400/month in gross rent (please, don't bring up the 2% rule) in a neighborhood that has an average vacancy rate in the mid-to-low single digits. There is ALWAYS demand.
I am asking for the BP Community help me make my next counter-offer.
FACTS:
Originally listed at $325K.
My original "low-ball" offer: $230K
Seller's counter: $299K
My Counter: $240.5K (what I paid for my duplex)
Seller's counter: $285K.
My Counter: TBD. Help me! I think the absolute most I would pay for this property is around $255-$260K. How can I get them to continue coming down into this range??