Offline$68,000
3bd 1.5ba
2.3k sq. ft
2 story unfinished basement and 1car garage. Oil heating.
avg price homes sell $101 sq. ft. with typically 130 days on market.
ARV $100-$115k
Built in the '30s as well as many other homes in the area. Some built in 1913 but updated.
But I have never even HEARD of oil heating before!
Should it be kept or replaced?
Your thoughts?
Note: I'm not looking for insight on if it's a deal or no deal but I'm scouting this downtown area and if I come across a motivated seller that does have oil heating I'd like to know what I should think about that....Other than it stinks. 
__________________
"A man who has never lost himself in a cause bigger than himself has missed one of life's mountaintop experiences." Richard Nixon
Years ago, we moved from Texas (natural gas country) to Cape Cod. I'd never heard of oil being delivered by a truck to fill up a tank in the basement. It sounded crazy.
Oil heating isn't a bad thing, unless it's the only house in the area that still has it. Some parts of the country have homes that are almost all heated by oil furnaces, and there's a dislike for natural gas or electric heat.
As long as the heating system works well and there are heating oil companies in the area, don't sweat it.
Good luck!
My back ground is a co-owner of family Plumbing and Heating business.
Oil Heat is very common in the northeast were there historically there is no Natural Gas, that is now being piped in from Canada an western states to the major cities, mills and factories, we also have LP gas in all of the states.
In any heat system you want to evaluate the age of the equipment. If it is more than 20 yrs old replace it. It is a upgrade that buyers will appreciate. Put in modern efficient equipment don't mess around replacing old equipment with similar equipment it wont be any more efficient than what you took out. If you don't upgrade the buyers here in the northeast will deduct that upgrade , $7,500 to $12,500 depending on scope of work, from the retail price of a house.
Oil heat is more economical to operate than LP Gas or Electric heat. Oil has more btu's per gallon ( 142,000+-)in it than the other forms of heat. Lp gas has 92,000btu's / gal so you need to buy a 1-1/2 gal to do the same job as oil. How ever natural gas is cheap enough that even though it has less btu's / gal it is a better buy than oil. It all boils down to btu's/$. Here in Maine its still oil.
Hope this helps.
Dan