OVERPAY FOR A PROPERTY SMART IDEA?

[Sebastian Hernandez]

Good morning Community! 

I am reviewing a deal here is Nothern New Jersey to buy a duplex and in my analysis I find the following. Based on the data gather through Zillow and the tax assessor website, I find that similar properties have sold for $340k and some below. However, there is substantial amount of competition in the area for multi family properties.

Any thoughts/advice on overpaying for a property in a competitive market? The property would still Casflow and I would pay about $10k above asking price so about 350k. 

Really appreciate your help community!!