The answer to your question would depend on many factors. Based on the description of the property, it has been recently updated. So, the market value of the house would be based on recent sales of similarly updated homes.
Are you working with a Realtor who has shown you this house? And, if so, is that person representing you or the homeowner? The listing agent cannot help you to determine fair market value because they have an obligation to the seller.
If you are not currently working with a Buyer's Broker, I would be happy to represent you on this or any other house you would like to see. I have been representing buyers since 2000 and have helped many families get happily moved into their new home. Please call me at 516-410-3000 if you are interested.