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Vashon Waterfront with View of Mt. Rainier

Does $535,000 seem like a fair price for a 4-BR, 1.5-bath house close to the ferry dock on Vashon? Hard to say, since it's been on the market for five months and the sellers just dropped the price by $30K, but to us this looks like a classic island property: old-growth cedar construction, wrap-around sleeping porch, no-bank waterfront. If it were on Bainbridge, the price would be triple, don't you think?
· 11536 Dolphin Point Trail SW, Vashon [Windmere]