flip won't sell - backup strategies

[Rick Fowler]

I'm looking for advice on what to do with my flip that won't sell. It's 1375 Locust St, Denver. Because of extra rehab and holding, I'm getting close to my breakeven, so I'm looking for my best options. Here's what I've thought so far

- drop the price faster until I sell it and take a loss (but at least get some of my money back to invest elsewhere)

- refi and rent it (rents 2500-3200/mo); maybe a renter will care less about the busy street? Still have the selling problem eventually
- refi and sell with lease option; maybe a tenant/buyer is having a tougher time buying in this market because most sellers don't have to fiddle with buyers who aren't ready? This strategy looks like the best numbers to me.

- work harder to find the ideal buyer who wouldn't care about the busy street; who might this be at this price point?
Two questions: 1. If lease/option is a good strategy, then I'd like to discuss with someone who's done them since this would be my first 2. What other strategies should I consider?

Some facts
- 4 bed, 2 bath, 1 car detached garage, alley access - it's on the corner of 14th and Locust; 14th is busy, not like Colorado or Monaco - 80+ showings since week before Thanksgiving - Original list: 474,950, lowered to 459,900 early January - consistent feedback: love the rehab; hate that 14th St is busy and gas station behind the alley; priced about right or slightly high
- the flip next door sold for 432k in January but is not as big or as nice a rehab; gave a concession for landscaping to accommodate for gas station behind the alley (my listing includes this concession as well)

I am grateful for any insights. Thanks!

Rick Fowler