Help me evaluate this deal - What would you offer?

[Keith Lutz]

Subject property - 4 bed / 1.5 bath 1920's home. 2,208 sq ft. Lot=7,500. Total Gut rehab estmated at 150k-200k

http://www.zillow.com/homedetails/30-Bradford-Ave-Montclair-NJ-07043/38680935_zpid/

Recent comps:
4 Windsor Place, 4 bed / 3/1 bath 2,341 sq ft. acreage = .3, sold on 11/21/2011 for $769,000

403 Upper Mountain Rd., 5 bed / 2 bath, 3,000 sq feet; lot = 15,000 feet; sold on 11/28/2011 for $740,000

182 Highland Ave., 4 bed / 3/1 bath 2,178 sq ft. lot = 36,000; sold on 12/06/2011 for $740,000

over 6 months:
250 Highland Ave, 4 bed / 3 bath, 2,271 sq ft. acreage = .91, sold on 9/26/2011 for $620,000

337 Highland Ave, 4 bed / 3 bath, 3,086 sq ft. acreage = .3125, sold on 7/28/2011 for $675,000

Other known information, has below ground oil tank, that has pinhole leakage estimated at $6,000 (but you do not know till you get in there), seller has limited/no money to fix. (After lady passed, four family members stayed in home for 4 years, using the two fireplaces for heat in winter).

This is SOLD info on Trulia - http://www.trulia.com/sold/Montclair,NJ/16_zm/40.838924,40.847149,-74.220436,-74.198934_xy/x_map/date;d_sort/9_srl