I found a BRRRR, need help with an offer!

[Anna Marcotte]

Good afternoon investors, I need a bit of assistance! 

Quick backstory - I want to get involved in real estate investing and I also need a primary residence (currently renting). I decided that a BRRRR property would be the best of both worlds since I can utilize my cash out refi for more properties (multi family is hard to come by in my area so house hacking is not a reliable option)

ANYWHO I found a BRRRR property I really like. It is in a favorable neighborhood (I live in the Jersey Shore area). It is currently listed at 285k. It was foreclosed on in 2019 for 120k, I am unable to find liens on the property with public records. From the photos, it looks pretty beat up and dirty. Honestly I'm not sure if it's even habitable at this current time. It's 1200 sq ft and 3 bed 2 bath. In the surrounding market, houses for this size are selling around 400k (on average). The house next door to it is a flip, bought for 160k in 2022 and now listed at 330k (of course will sell much higher in this spicy market). I think this property has a ton of potential, however 285 is pretty steep for something not even habitable. How did the next house over sell for 160k and how do I lower this list price of 285.
thanks in advance :) 

[Larry Turowski]

@Anna Marcotte I can almost guarantee the house next door was bough off market. Put in a lowball offer, as another said. It can’t hurt and honestly is easier to do with the separation a realtor brings.

In a competitive (the house is listed) sellers market it is difficult to buy at a sensible price as an investor.