$200 seems like a good price to me on this name...but a couple things you need to consider...
1. how much you paid for it.
2. do you intend to develop it
3. It is the opening offer.
if my answers to 1&2 were 1. under $50 and 2. no...
I would consider
#3 and counter with 3x what they initially asked....they will accept it or counter somewhere in the middle.
Good luck.