HELP, Is it worth it to buy a flooded house?

[Herbert MacDonald]

This Saturday, I'm going to look at 4/3 house that has flooded twice; once in 2016 before Harvey (13") then in 2017 because of Harvey (42"). The house is cleared out and cleaned, 2727 Sq' on 2.75 acres, (home owners are claiming 3239 Sq' living space), newly built 60x40 barn in 2015, Well water, Clear septic system 200 Gallon Propane Tank for gas just outside the city limits.

What can I realistically asses the repair costs to be? At $40/foot its $110K ($130k @ 3239 Sq'), but not sure if it's accurate. I am calculating the property taxes to be ARV since its flooded twice.

Any advise would be greatly appreciated.