These cars are plentiful with many many very nice lower mileage examples in the 3-4k range. I'd say wait for a better example unless this one is in excellent cosmetic condition, and has some major repairs recorded, such as the AC evaporator, valve seals,head gasket, transmission. It sounds like the PO is letting things go, though, which means you inherit all of his deferred maintenance.

If its pretty, it may be worth what you're offering.

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1985 500SL Euro w/ AMG bits 130k
1984 300SD Turbodiesel 192k
1980 240D Stick China 188k
2001 CLK55 AMG 101k
2007 S600 Biturbo 149k Overheated Project, IT'S ALIVE!!!