Well for starters if you have a full sized SUV you won't make it as the railroad tressel is real low but joking aside the house will be in the flood zone. That has 2 strikes against it. For starters you will have to pay flood insurance which could be as much as $100 a month. Secondly you face the possibility of having a swimming pool in the basement on a regular basis ( either that or tie up a canoe to the fornt door so you can get to work!).
There are several areas in Wayne that are in the flood zone and on the face of it the prices seem very reasonable. Not sure if the house you are looking at is the one on the Mls for $219,000 but that is a very reasonable price for the town but theres a reason. Most people do not want to deal with the hassle of living in a flood area. And houses are very difficult to sell.
Sorry to be so negative but thats the truth.

Hi Jlindner,
My best advice to you is to contact a local professional Realtor who can help you through the buying and offering process. Be sure to choose a Realtor, because they have agreed to abide by a strict code of ethics and will always keep your best interest in mind. Only a local Realtor to your area will be able to answer your question with any accuracy.

If you're a first-time buyer, don't forget about the $8k tax credit that is also currently available.

Good luck and enjoy the home buying process!

--Tim