That is not a bad price for the home.
I would suggest you have a good home inspector
to check out the home.If you write an offer on this property
you should have it contingent upon a satisfactory inspection.
Could be,or it could not be../// What condition is the property in. If it was build in 1920 what about the structure of the house? I would have a professional home inspertor do a thorough inspection of the property. This could save you a lot of money in the future. You can have the home inspection put in the purchase contract as a contingency,also have the purchase price contingent on appraisal of property either equal or above purchase price.