There are any number of reasons a home may have what looks like a low asking price. The home may be in poor condition and need work to make it truly livable again, or it may need some significant updating. It may be this home is a short sale or a foreclosure, both of which generally are sold at a discount. Or this may be a home that is in the pre-foreclosure state and it may have been posted by a service that publishes the addresses of these properties whether or not they are being offered for sale by the bank or the owner and the asking price may not be an asking price at all, but the amount of a lien on the property.
If you are interested in purchasing a home, at any price, the smartest thing you can do is find a good realtor to work with. They will be able to answer all your questions on every property, or at least know where to find the answers.