House "longevity"

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I'm new, so forgive me if this is going to be a naive question.

"How long does a house typically last?"

I'm looking at turnkey buy and hold properties and the houses offered are typically older (built 1960-70s).  I know there could be lead and asbestos issues but if the home I'm buying is free of those and passes inspection, is it reasonable to think that it'll last 30+ years?  Or, am I going to have to sink $$$ for upkeep?  

At what point does a house need to be overhauled or rebuilt?  It can't last indefinitely right?