How low should I make my offer?

[Jim Coleman]

Found a house I want to live in for 2 to 3 years while I upgrade it before selling or renting out. It is a 2br,2bath, large basement, 2 car garage, a small den , and new kitchen and bathroom. It’s been on the market for a year which my biggest concern and it’s current price is 120k and price hasn’t dropped since it hit the market. I’m thinking of offering 110k. Just asking for thoughts since I’m new to this process and will be looking at the home tomorrow morning. Thanks.