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
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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.