Flood Zone Property?

[Vance Wyly]

First time post here.

I found 3/2 1,700 sqft foreclosure. Asking price is 60k. Comps are 95-100k in the area. House is in good shape and needs a roof and interior paint. I was moving along and preparing my bid when I discovered it is in the Flood Zone (100 year). I am getting pricing for insurance and researching the area (talking to neighbors and the city) about any previous flooding in the area. The neighborhood was built in 1969 and there are no signs of any issues. What else should I consider? Should this impact my bid? Is buying in a flood zone a immediate no go? Any input is appreciated.