When properties are listed do people generally expect to get offers significantly less?

[Travis Bill]

From browsing this site iv learned a lot about what makes a good real estate investment ie things like the 2 percent rule.

In my area (Wisconsin) on the mls i see many deals and i cant understand what people are thinking.

for example a 120 year old duplex with 900 a month gross rents for 100k.

.9% rule for anyone?

or for 120k you can get a 80 year old converted duplex with 975 in gross rents.

Are there people who would actually buy these?

The asking prices seem so unrealistic