It may be.
It probably is not:
If you are truly interested in the property, and not just the price, please contact a Realtor:
A Buyer's Agent costs you nothing, and the help can be worth a lot to you.
That price is probably just a starting point, to attract offers.
If that was really the value of the house, it would be a "tear down" and you surely do not want to go there.
Good luck and may God bless