There is a lot of competition in the market.The city is historically very very tenant friendly.

My nearest competition is two houses, one a few doors away, same age, also stucco, slightly larger, with people in it, at 165K last I looked, and another one, slightly larger, block, a few blocks away, 11 years older at $135K.

You need to determine what is the competition?

There's less competition on the garbage properties, and the banks seem to be more eager to get these pieces of crap off of their books.

Just try to buy a foreclosure the competition is crazy...

Account ClosedShould I only sell it if I can get a competitive price for it or should I sacrifice maybe 1-2K to just get rid of it , have a fuel efficient vehicle, and 15-17K cash?

Especially dense populated areas with heavy competition.

They actually had very competitive rates too. 

The cap rate seems good for the area, however I'm not quite familiar with evaluating competitive cap rates for Long Island.

The downside is that your offer may be less competitive than another buyer.I made an offer on a 4-plex on Monday and went through the listing agent even though I had contact information on seller.