Help me make an offer!

[Lindsey Vargas]

Buying my first 1/2 duplex to be used as a rental property. It has been on the market for just over 200 days. It is listed for $110k. In my area, I could rent it for $1,100 a month. It only needs cosmetic rehab that I know of. 

For my numbers to work and to get positive cash flow, I'd like to buy this place for $85k. I feel like because it's been on the market so long, it's priced too high. 

This link tells you about the property but I think I might be reading it wrong because it says the market value is in the $50k range. 

https://www.bcpao.us/PropertySearch/#/parcel/2423476?sortColumn=account

We offered 82k and the listing agent would like us to rethink our offer before she submits it to the seller.

Here are the comps in the area including the listing I'm interested in. 

http://www.flexmls.com/link.html?1g0y08t9kprl%2C15%2C1%2C39632

She told us in the email that the seller paid $127,000 in 2005 for this property and currently still owes more than the offer amount submitted.  (I honestly don't know why I'm supposed to care about this.)

Is this deal not going to happen or should we come back just a little higher?