Need help with an honest bid price for a house in Irving , TX

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There is a house for sale in Irving, TX that has been gutted down to the studs I found on Zillow. The asking price is 158,999. The tax assessment for the property the last 3 years has been at 59,00! My question is how much would you bid for this house? The comps around it are for high 1’s to low 2’s. I’m not going to buy it because I’m new...as in this would be my first... and don’t want to get too deep on my first. But if tax assessment is 59k, I thought a reasonable number would be 35-50k max. Any thoughts on this?