thoughts on this property

Would love to hear peoples thoughts' on this property.

http://www.arthurconias.com.au/property-details.aspx?propertyid=1163&suburb=Indooroopilly&propref=INDH46

Is the price right?

Things not stated on the ad

was recently flooded and submerged in water 3/4's of the way up the walls. Would it be wise to ask the owner to raise the property above flood levels as a condition of sale?

Healthy Regards