The price is way too high. I'd use the blue book if i really wanted the car for some reason. And honestly, the ONLY car i'd even consider buying with milage this high, is a Camry (I've owned two and I was a fleet mechanic for 40 years, the Camrys were bar none the best, most reliable and durable cars in the fleet). You need to know, if possible, the maintenance done to it, especially since it's not unusual for a car of this mileage to have had a new engine put in at some point. (Even then that doesn't automatically make it a good buy, a lot of engine rebuilders cut a lot of corners during rebuilds making for a less reliable engine).
Only reason I'd actually consider getting a high mileage camry is because this is the only car I know that might still be worth owning by then. Never seen a car that wears so well especially if the owner babies it. And so if the car's been kept up, you might get another 50,000 trouble-free miles before you really had to start spending money on it. If you really want the car offer them half that amount, if the owner is delusional and stands firm find another car, one with less than 100K miles.