Advice on this one pls

[Naseera Mohamed]

This is a house in a great school district in ,xNorth Jersey that has come back on the market after coming out of contract. The price has dropped from 249K to 199K. Sellers are motivated. 3bdr/1bath. Great Move-in condition . Taxes 8800$ -can be appealed to lower after purchase.

I think the reason for the low price is the location-it's just overlooking the river. If not for this, we see similar houses listed in the range of 400k in this town.

How much can I make an offer considering it came back from a contract for 249k?