My apologies on getting the location wrong.
I looked up your listing and see that it is comparable in structure, features and amenities to already sold 2-flats in the area. Though, those that have sold in your area are closer to the $350's. The ones sold above that offer a full finished basement and/or central air/heat/separate furnaces. That can be a big value to an investor because each tenant pays its own utilities.
Is your building located along an alley, by chance (hard to tell by the photo)? Those can be much harder to sell.
Also, the dimensions don't reflect a double lot. If this is indeed a double lot, it might behoove you to have your Realtor specify that, since there is value in land.
Wish I could offer more insight, sorry!
Is there anything about this residence that would make it unattractive to buyers? Has it been appraised? Does it need expensive updates with the plumbing, electrical - things that make it more expensive to a buyer and less competitive with the rest of the market.
A couple of simple suggestions: have it staged, have it appraised, have a home inspection, keep informed on the market, offer to cover all closing costs, increase buyer's commission by a %, etc... you don't need to do everything I listed, but they were listed to provide some examples of setting the home apart from its competition.
I would also question how the home is being marketed. I think it's been stated that 70% - 80% of home buyers go to the internet when searching for their home. Does it have a strong internet presence?
Hopefully more Realtors can provide some insight for you. Good luck.
Woodlawn has had 45 closing on multi-family units in the past year, with prices ranging as low as $100,000 to as high as the mid-$300s. Current active listings range from the below $100 to the high $400s.
Without knowing what type of 2-flat you have (bedrooms/baths, etc.), the location in Woodlawn (remember, a few blocks can make a huge difference in value), and other specifics, it's impossible to know where your building should fall within the market, but it does appear you are on the higher end of the market with your current pricing.
If you are working with a Realtor, she should be able to consult you further.
If you are not, then the problem might very well be in your marketing (or lack thereof) of your property, and that your perception of the building's value is off. I fully support FSBOs, but it can be difficult to separate personal attachment to ones own property when selling, which can lead to inlflated perceived value.
If you have not talked to a Realtor at all during this process, I strongly recommend that you do for this very reason. Many offer complimentary Comparative Market Analysis; you might find that in just talking to one you will figure out what is wrong, and be inspired to utilize their services and expertise.
If you have, and are working with one, it's time to dig down into your current strategy and tweak what is not working, reevaluate the marketing, the price, everything.
Best of luck to you!
It is not what you have put into the house, but what it can sell for.
To maximise your coverage, Is it listed with a Realtor and on the MLS?
You never mentioned it if you're selling the residence yourself or with a Realtor. You never mentioned how it's being marketed. If you're selling it yourself with a sign in the yard, no Realtor, without offering a commission to the buyer's agent, without doing a comparative market analysis, etc... then I'm not surprised it's still on the market.
A little clarification from you would help us provide you some insight, advice or a referral to a Realtor in your community.