Why don't you get a free market snapshot at http://www.carolworks4you.com. It will be sent directly to your email. The report will show you recent sales, homes on the market, etc. in that particular area.
When you are ready for some personal consultation, please contact me as I would be glad to help you.
Carol Murray Cei
ReMax Action Realty
Sounds as if you have interest in purchasing this property. Without knowing the asking price it could not be determined if it is being offered at fair market value. Updating a kitchen is a major renovation but cost will depend on its size etc. Does it need new cabinets, countertops, flooring, appliances? If the heater is 75 years old even if it is working it is probably not very efficient and replacement would be a good idea. There may be other repairs you are unaware of and that is why I always reccomend a home inspection to my buyers. If you are not currently working with an agent, I would be happy to asssit you in your real estate pursuit. I live in Upper Hanover Twp, Mongomery Co. and know the area well.