I suppose my non answer answer is, how bad do you want it?
Are you buying it becasue you like it and want it then it is worth the asking price. If you are buying it becasue you want to profit from it then it's a totally different story.

Brings to mind friends telling me what they paid for their houses and what the are worth no not considering that most houses in their communities escalated at the same rate. Sell it and do what....All the caves in my neck of the woods are already occupied