UTHorn, without knowing more specifics such as the area, finish out quality, where you got your comps from, etc., etc., this is pretty much an impossible question to answer. And don't forget, even at $115 per square foot, that is just an asking price.
What I believe you need is the help of a qualified, experienced Realtor such as myself to run accurate comps and examine your specific situation and goals, and try to help you figure if this house is the right house for you, or if you should be looking at something else. Your question only exposes the tip of the iceberg and without a lot more information, nobody can really give you a qualified answer.
If you're not yet working with a Realtor, please give me a call and we can discuss working together. I represent buyers like you at no cost, and I have a lot of experience as a Realtor, Investor, and owner of a home building company that can be of great value to you. I also represent buyers at no cost to you as well.
Feel free to click on my name, review my Credentials and Client Testimonials, and let me know if I may be of assistance.
Joe Jarusinsky, Realtor/Master Instructor, Keller Williams Realty, Austin's #1 Real Estate Company, Ranked #1 by Buyers and Sellers (JD Power & Assoc. 2012)