The best way to find out about a realistic price on any property for sale is to make an offer.
In terms of the research required to feel you are in the ballpark I looked up some information for you. The property in question appears for sale in the Multiple Listing Service and the MLS indicates that it has been for sale for more than 500 days. The last sales in Townhomes at the Oceans were a similar unit in May 08 for 295,000 & another in April 08 for 245,000.
In these times where mortgages can be challenging, a cash buyer definitely has a leg up. However, the rock bottom that any seller may accept can be solely a matter of their motiivation to sell and/or how much they have invested in the property and it may have nothing to do with realistic comparables.
Please do not hesitate to contact me directly if I may be of assistance to you in this transaction. My email is email@example.com and my website is http://www.EverythingDaytonaBeach.com.
Beach & Luxury Realty