I had an '84 SR5 4WD wagon about 12-13 years ago. Absolutely one of the best vehicles I've ever owned, plus one of my favorites.
I can't say much for mileage as back then I didn't care much for mileage PLUS the only reason I got it was my POS Mercedes crapped out. I had a neighbor that owned it and it died on him, as long as it wasn't German I was game so I offered him $100 for it. He said he was quoted from a "mechanic" that it would be $500 minimum to fix it. Ten minutes and a $10 air filter later I was on the road with it.
If you have no history I would swap the timing belt. About a 2-3 hour job less if you don't get as picky as me. I got a U-Pickit junk yard radiator that I swapped out at the same time plus fuel filter, dist cap/wires (one piece), rotor & plugs. Essentially I had about $400 total in the car (including CD player) and sold it for $2500 after I put around 15k miles on it. It was in great shape, gold/tan w/ a brown bottom and brown plaid interior.
I think you need to post pics of the interior once you get it. I know a few people will be VERY jealous of that little EOC helper on top of the dash
Show people what I'm talking about Friday. YOU ARE SO LUCKY!! I've actually done quite a few nationwide searches for one of those in nice condition - no luck.
The '88 Tercel is Apples and Oranges. I've had an '87, two '88's, an '89 and a '90 - the SR5/4WD is a different animal.